(INDIANAPOLIS) – The Board of Directors for the Indiana Housing and Community Development Authority (IHCDA) recently approved up to $4 million aimed at addressing Indiana’s workforce housing shortage.The new Anchor Employer Workforce Housing Program will create public-private partnerships to invest in workforce housing.
“Indiana’s unemployment rate remains well below the national average,” said Indiana Lt. Governor Suzanne Crouch, who serves as board chair of IHCDA. “Without sufficient housing options, it is difficult for employers to attract and retain talent. By partnering with anchor employers, we can work together to meet this growing need for affordable housing.”
In a Request for Proposals (RFP) released earlier today, IHCDA is seeking to partner with anchor employers* to establish a plan to encourage workforce housing opportunities in their communities. While they can request up to $1 million each, the employers must match or exceed the investment made by IHCDA.
“This program allows us to work closely with key employers to meet the workforce housing needs in their communities,” said Jacob Sipe, Executive Director of IHCDA. “Instead of defining the type of activity, we are asking employers to think creatively and develop a proposal specifically tailored to the needs of their community.”
Each selected employer will submit a Workforce Housing Investment Strategy to IHCDA that includes the final program design, an investment plan, and metrics for tracking success.
In addition to this RFP, IHCDA announced in April a Modular Workforce Housing Pilot Program. Through this program, two not-for-profit respondents will establish a homeownership revolving housing fund of up to $500,000 to construct modular, single-family homes working with Indiana-based manufacturers.