INDIANAPOLIS — Four developments have received awards from the Low-Income Housing Tax Credit (LIHTC) program, in conjunction with the Multifamily Tax Exempt Bonds. This funding is used to incentivize private developers to fund the construction, acquisition and rehabilitation of affordable housing communities throughout Indiana.
More than $72 million in Housing Tax Credits and $110 million in Multifamily Bonds were awarded to four developments to create and preserve 969 affordable units that will serve individuals and families across Indiana in Clarksville, Fort Wayne and Indianapolis.
In Indianapolis, Forty Six Flats (46th and Allisonville Rd.) was awarded funding for new construction of 173 units. Also, Bradford Lake (E. Stop 10 and Madison Ave.) received funding for rehabilitation of 357 units.