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Development Teams present plans in East Chicago for the Moving Forward 3.0 Program

Monday, August 7, 2017 12:00am to 12:00am

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EAST CHICAGO – Six development teams today presented their plans to create a new affordable housing development in Lake County. Each of the teams responded to the Request for Qualifications (RFQ) released by the Indiana Housing and Community Development Authority (IHCDA) earlier this year to participate in the Moving Forward 3.0 Program.

"I was very impressed with the talent and expertise of the development teams that presented today," said Jacob Sipe, Executive Director ofIHCDA. "At this stage we are focused on identifying the best teams with the best discipline in the areas of housing, transportation, energy and poverty. These developments are an important next step in the future of East Chicago and Lake County."

The two development teams selected to participate in Moving Forward 3.0 will be announced later this month. They will begin the development phase during an intensive two-day workshop in November. At least one of these new affordable housing developments, which will likely break ground in 2019, will be located in East Chicago.

In February, Indiana Governor Eric Holcomb issued an Executive Order for Declaration of Disaster Emergency in East Chicago. One of his requests in this order was for IHCDA to find ways to encourage the new development of affordable rental housing in the East Chicago area.

The Moving Forward Program, launched in 2015 by IHCDA and Energy Systems Network (ESN), uses a systems approach to create affordable housing that increases quality of life while decreasing the cost of living for low to moderate income individuals and families. To date, four teams have participated in the program with housing developments planned or currently underway in Bloomington, Fort Wayne, Lafayette and Indianapolis.

Click here for more information about the Moving Forward Program.

Click here for additional information and updates regarding the Disaster Emergency in East Chicago.

*Per the 2016-17 Qualified Allocation Plan (QAP), IHCDA reserves 10% of its Rental Housing Tax Credits (RHTC) for the IHCDA General Set-aside. Under this set-aside, IHCDA reserves credits for developments that further the Authority’s mission, goals, initiatives, and priorities irrespective of the ranking by evaluation factors.The QAP states that the Authority will exercise its sole discretion in the allocation of the IHCDA General Set-aside. These two developments will be eligible to apply for tax credits that will be announced in February 2018.

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IHCDA, chaired by Lt. Governor Suzanne Crouch, provides housing opportunities, promotes self-sufficiency andstrengthens communities in order to build an Indiana with a sustainable quality of life for all Hoosiers in the community of their choice. For more information, visit www.ihcda.in.gov or www.in.gov/myihcda.

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