INDIANAPOLIS — The Indiana Housing and Community Development Authority (IHCDA) recently awarded more than $13.9 million in Rental Housing Tax Credits (RHTCs) and $5.8 million in additional funding from the Development Fund, HOME, and Housing Trust Fund towards 16 multi-family housing developments throughout Indiana. IHCDA administers and manages the federal credits, which provide incentives for private developers for affordable housing in the state. The allocation will fund over 700 housing units.
Project activities include new construction, rehabilitation, adaptive reuse (conversion of existing structures), and the preservation of historic buildings funded through the Internal Revenue Service Section 42 RHTC program.
Local developments receiving credits include Broadway Flats in Greenfield for new construction, the Minnie Hartmann Center reuse and new construction project from Near East Area Renewal, new construction on South Parker for the elderly through Englewood Community Development Corp., and IndyEast Homes, through the John H. Boner Community Center, for rehabilitation and new construction on several east side sites.