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CATEGORIES:Press Releases
DESCRIPTION:INDIANAPOLIS – The Indiana Housing and Community Development Au
 thority (IHCDA) announced today plans for the Moving Forward Rural Developm
 ent (RD) program. Using the Moving Forward model developed in 2015\, IHCDA 
 in partnership with Energy Systems Network (ESN) will take on the challenge
  to  preserve a minimum of 30 USDA Rural Development (RD) properties at ris
 k of losing their affordability by 2020.\n\n“The purpose of Moving Forward 
 Rural Development is to invite developers to create and implement long-term
  strategies to overcome challenges\," said Lt. Governor Suzanne Crouch\, wh
 o serves as board chair of IHCDA. "Specifically\, we believe the issues cur
 rently facing rural communities can be addressed by preserving housing that
  increases quality of life while decreasing the cost of living for low to m
 oderate income individuals and families." \n\nThere are 472 USDA RD propert
 ies located in Indiana that represent 12\,838 units. Many of these units ta
 rget Indiana’s elderly population. As these properties mature and leave the
  program\, their affordability goes away and it jeopardizes our most vulner
 able population’s ability to maintain housing that is safe\, decent\, and a
 ffordable and located in our rural communities. \n\nThe Moving Forward Prog
 ram\, launched in 2015 by IHCDA and Energy Systems Network (ESN)\, is desig
 ned to create affordable housing that increases quality of life while decre
 asing the cost of living for low to moderate income individuals and familie
 s. To date\, six teams have participated in the program with housing develo
 pments planned or currently underway in Bloomington\, Fort Wayne\, Lafayett
 e\, Indianapolis\, East Chicago and Gary.\n\n“We are excited to begin the n
 ext iteration of Moving Forward\,” said Jacob Sipe\, Executive Director of 
 IHCDA. “Previously\, this program has been used primarily for new construct
 ion. However\, just as important as creating new affordable housing is to p
 reserve our existing affordable housing stock.”\n\nAlong with this announce
 ment\, a Request for Qualifications (RFQ) for the Moving Forward RD Program
  has been released. It can be accessed on the Moving Forward webpage here. 
 Requests to this RFQ are due by June 11\, 2018.\n\nOnce the three developme
 nt teams are selected\, they will participate in a series of workshops and 
 meetings in which IHCDA\, ESN and other assembled subject matter experts cr
 eate their plans to bundle at least 10 properties into one multifamily port
 folio. Each developer will be eligible to receive a combined amount of up t
 o approximately 10%* of the 2019 credit cap\, a $1 million soft loan\, up t
 o $25 million in multifamily bonds and approximately $10 million in 4% cred
 its.\n\nClick here for more information about the Moving Forward RD Program
 .\n\n*Per the 2018-19 Qualified Allocation Plan (QAP)\, IHCDA will reserve 
 10% of its RHTC for the IHCDA General Set-aside. Under this set-aside\, IHC
 DA reserves credits for developments that further the Authority’s mission\,
  goals\, initiatives\, and priorities irrespective of the ranking by evalua
 tion factors. The QAP states that the Authority will exercise its sole disc
 retion in the allocation of the IHCDA General Set-aside.\n\n\n\n\n\n\n\n\n\
 n\n\n\n\n\n\n###\n\nIHCDA\, chaired by Lt. Governor Suzanne Crouch\, provid
 es housing opportunities\, promotes self-sufficiency and strengthens commun
 ities in order to build an Indiana with a sustainable quality of life for a
 ll Hoosiers in the community of their choice. For more information\, visit 
 www.ihcda.in.gov or www.in.gov/myihcda.
DTEND:20180502T040000Z
DTSTAMP:20260308T133740Z
DTSTART:20180501T040000Z
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SUMMARY:IHCDA\, ESN announce Moving Forward Rural Development (RD) Program
UID:tag:localist.com\,2008:EventInstance_34935196641857
URL:https://events.in.gov/event/ihcda-esn-announce-moving-forward-rural-dev
 elopment-rd-program
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