(INDIANAPOLIS) – The Board of Directors for the Indiana Housing and Community Development Authority (IHCDA) approved last week over $13 million in financing through their 2019-2020 HOME Investment Partnerships (HOME) round for the new construction or preservation of affordable housing across nine rural Indiana counties. Together, these developments will create or preserve 216 units of affordable housing.
“The need for safe, decent, and affordable housing has never been more pressing across rural parts of Indiana,” said Indiana Lt. Governor Suzanne Crouch, who serves as board chair of IHCDA. “This funding will not only support the creation or preservation of affordable units but will also leverage additional investment into these communities.”
The purpose of this HOME program is to provide subsidies in the form of grants and loans to selected applicants for the acquisition, rehabilitation and/or new construction of rental housing for low and moderate-income people.
Since 2016, over 600 units of affordable housing have been created or preserved through the HOME program in Indiana. Click here for more information.