Indiana Affordable Housing and Community Development Fund
Indiana Housing and Community Development Authority
Indiana
The Development Fund provides gap financing for LIHTC and HOME projects in the maximum amount of $750,000. Current interest rate is 1.5%, 15 year term, 30 year amortization. It can also be used as a stand-alone loan source. This program is funded by a portion of the tax on smokeless tobacco.
Contact
Jerri Bain
IHCDA
[email protected]
317-233-6667
Other Eligibility Requirements
Persons experiencing or at risk of homelessness; Victims of domestic violence; Persons with mental illness; Persons with disabilities; Elderly; Youth; Children or youth exiting foster care; Applicants on Medicaid
Eligibility Limitations
Does not limit eligibility on these criteria
Priority Populations
Very low-income households (income less than 50% AMI); Victims of domestic violence; Persons with mental illness; Persons with disabilities; Elderly; Youth
Total Funding
$150,000,000
Funding Source
Dedicated funding stream - Sales tax
How Provided?
Development loans
Data Collected by Program
Does not collect data on income, race, ethnicity, disability status, or age
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