IHCDA Board Approves Funding To Preserve Affordable Housing

(BLOOMINGTON) – During the March meeting of the Indiana Housing & Community Development Authority Board of Directors, the board approved bond volume/4 percent credits to preserve more than 800 units of affordable housing in the cities of Bloomington, Evansville, and Indianapolis, with a total development cost of $78 million.

  • Limestone Crossing Apartments is the rehabilitation of the existing Canterbury House Apartments tax credit project in Bloomington. The 208 unit project was awarded $18,890,000 in bond volume and $852,100 in low-income housing tax credit (LIHTC).
  • Regency Park Apartments is the rehabilitation of an apartment complex on the south side of Indianapolis creating 304 units of affordable housing. The project was awarded $19,000,000 in bond volume, $1,276,118 in LIHTC and $1,000,000 in Development Fund.
  • Carriage House Evansville is the rehabilitation of two existing properties with project-based Section 8 vouchers to preserve 307 total units. It was awarded $21,800,000 in bond volume and $1,168,024 in LIHTC.
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