Two local affordable rental unit projects are receiving funding.
Lt. Gov. Suzanne Crouch and the Board of Directors for the Indiana Housing and Community Development Authority announced nine projects have received awards from the HOME Investment Partnerships Program. This funding is used for the construction and/or rehabilitation of affordable rental housing for low and moderate-income residents.
The two local projects that will be receiving funding are:
- Oakland Gardens, developed by New Hope Development Services Inc., will receive $1.5 million in HOME awards and will build 8 affordable rental units in Oakland City;
- And White River Landing, developed by New Hope Development Services Inc., will receive $1,440,000 in HOME awards and will build 6 affordable rental units in Petersburg.
Award applicants were required to attend an intensive HOME Project Development Training that focused on rental housing development, navigating federal requirements, design and implementation of permanent housing with supportive services, as well as supplemental training on planning, rental assistance resources, and subsidy layering requirements.
For more information on the HOME program, visit in.gov/IHCDA/developers.
