Funding will go towards the creation or preservation of over 200 units of affordable housing in Indiana.
(Indianapolis, Ind.) - Last week, the Indiana Housing and Community Development Authority (IHCDA) Board of Directors approved more than $13 million through the 2019-2020 HOME Investment Partnerships (HOME).
This round of funding will offer new construction or preservation of affordable housing across nine rural Indiana counties. In total, the developments will create or preserve 216 units of affordable housing in the Hoosier state, including a development in Dearborn County.
Locally, the Fairhaven West Apartments in Lawrenceburg will receive funding for their 26 unit complex.
"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 HOME program provides grants and loans to selected applicants for the acquisition, rehabilitation, and/or new construction of rental housing for low and moderate-income community members.
Since 2016, more than 600 units have been created or preserved through the HOME program in Indiana.
Find more information on the program here.
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