INDIANAPOLIS — Indiana announced five developments have received millions in awards from the Low-Income Housing Tax Credit program.
The funding is used to incentivize developers to fund the acquisition, rehabilitation and construction of affordable housing.
“Affordable housing is critical to Indiana’s success, and this investment is a huge piece of our state’s infrastructure growth,” said Lt. Gov. Suzanne Crouch. “We strive every day to continue making Indiana a place for people to live, work and play.”
The properties receiving bonds and tax credits are listed below:
- City Heights Apartment Homes in Indianapolis will receive $33 million in tax exempt bonds and $3,196,024 in tax credits to create 200 units of affordable housing
- The Mill in Shelbyville will receive $22 million in tax exempt bonds and $1,689,717 in tax credits to create 168 affordable housing units
- Village Premier Apartments in Fort Wayne will receive $25 million in tax exempt bonds and $2,114,048 in tax credits to create 208 units of affordable housing
- Tower Multifamily Portfolio, which includes three existing properties in Petersburg, Princeton and Mount Vernon, will receive $10.9 million in tax exempt bonds and $688,065 in tax credits to rehabilitate 200 units of affordable housing across three properties
- Tower Senior Portfolio, which includes three existing senior properties in Petersburg, Haubstadt and Owensville, will receive $5.3 million in tax exempt bonds and $342,688 in tax credits to preserve 112 units of affordable housing across three properties
Click here for more information regarding the program.
