Sixteen developments have been selected to receive low-income housing tax credit (LIHTC) reservations in Indiana.
The $12.5 million in reservations will fund 809 housing units and could leverage up to $112 million in private development capital. Ten of the selected developments will also receive more than $5.1 million in additional Indiana Housing and Community Development Authority (IHCDA) financing.
In November, IHCDA received 52 applications requesting more than $43.3 million in tax credits and $16 million in other funding.
Flagstone Village, a 76-unit development in Hammond, received the largest LIHTC award of $1.2 million. Homestead Enterprise Housing is the developer.
Miller-Valentine Group also received just shy of $1.2 million in LIHTCs for its 67-unit Jasper Lofts development in Jasper. The adaptive-reuse project also received $500,000 in additional financing from IHCDA.
For a full list of developments receiving LIHTCs, visit the IHCDA website.