Lt. Gov. Crouch, IHCDA announce $15.7 million in grants and loans for affordable housing.
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INDIANAPOLIS – Lt. Governor Suzanne Crouch and the Board of Directors for the Indiana Housing and Community Development Authority (IHCDA) announced nine projects have received awards from the Home Investment Partnership Program (HOME).
The funding is used for construction and/or rehabilitation of affordable rental housing for low and moderate-income residents.
Locally, the following projects received funding:
- Milan Senior Housing Rehab, developed by Milan Housing for the Elderly, Inc., will receive $1.5 million in HOME awards and will rehabilitate 34 affordable rental units in Milan.
- Switzer Square Senior Rental Rehab Project, developed by Switzerland County Housing Inc., will receive $828,601 in HOME awards and will rehabilitate 41 affordable rental units in Vevay.
"Affordable housing is vital to a community’s vibrancy," said Lt. Gov. Crouch, Indiana’s Secretary of Agriculture and Rural Development. "Through HOME funding, these projects will create and restore hundreds of units, greatly benefitting the Hoosiers who live, work and play in those communities."
HOME funding can also be used for capacity building activities for Community Housing Development Organizations (CHDOs). CHDOs are IHCDA-certified not-for-profit housing organizations that meet certain HOME regulations and are eligible to receive HOME funds to use as an operating supplement when carrying out a HOME-funded development.
For more information on the HOME program, visit IHCDA’s website.
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