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X-WR-CALNAME:IHCDA announces Emerging Developers for Rental Housing Tax Cr
 edit General Set-Aside
X-WR-TIMEZONE:Indiana (East)
BEGIN:VEVENT
DTSTAMP:20260715T014601Z
UID:tag:localist.com\,2008:EventInstance_42296006461545
DTSTART:20230202T110000Z
DTEND:20230202T120000Z
DESCRIPTION:Two developers selected to receive rental housing tax credit fi
 nancing\n\nINDIANAPOLIS (Feb. 2\, 2023) – The Indiana Housing and Commun
 ity Development Authority (IHCDA) has announced the selection of two emerg
 ing\, first-time developers to participate in the 2023 Rental Housing Tax 
 Credit (RHTC) General Set-Aside. On January 12\, 2023\, developers present
 ed to a selection committee consisting of IHCDA’s Executive Director and
  four single parents currently enrolled at Ivy Tech Community College.\n\n
 Developers were required to propose a detailed housing concept that identi
 fies and addresses challenges present in their community. The committee se
 lected two developers to receive financing from IHCDA: \n\n2 Thirty-Eight 
 Properties\, LLC. is a newly formed housing development company of Frederi
 ck “Fred” Yeakey\, who has a background in education and community bui
 lding that spans over 16 years.\nHousing Concept: Anthony Grimes Apartment
 s & Family Center\, a new housing community using tax credits where famili
 es can recover and heal together from addiction. The proposed location is 
 1435 E. Mickley Avenue in Indianapolis and will create up to 34 units for 
 single parents and their children.      \n\nChateaux 14 Development\, LLC.
  is a housing development company owned by Devereaux Peters with a mission
  of “relentlessly seeking financial solutions for underserved communitie
 s through development.”\nHousing Concept: The Monreaux Apartments will a
 ddress the need to create and support more budding small businesses and en
 trepreneurs while creating affordable housing for low- and moderate-income
  families in the newly revitalized downtown South Bend area.\n\nThe proces
 s targeted developers who are Minority Business Enterprise (MBE)\, Women B
 usiness Enterprise (WBE)\, Veteran-Owned Small Business (VOSB)\, or Servic
 e-Disabled Small Business (SDVOSB). An emerging\, first-time developer is 
 defined as a developer that has never received an allocation of tax credit
 s.\n\nFirst-time RHTC developers often face financial and institutional ba
 rriers to entering the development industry and obtaining financial resour
 ces. Through this initiative\, IHCDA seeks to intentionally build capacity
  for emerging developers.\n\n“Affordable housing is critical to Indiana
 ’s success\, and is a huge piece in fulfilling IHCDA's mission\," said J
 acob Sipe\, Executive Director of IHCDA. "We are always thrilled to work w
 ith new partners in pursuit of that mission\, and I am particularly proud 
 of the overwhelming response we received on this project. Developers from 
 around the state constructed innovative\, collaborative housing solutions 
 to community challenges\, and it was heartening to review so many great co
 ncepts."\n\nSipe described the perspectives and experiences of the selecti
 on committee\, which chose the two finalists from eight presentations\, as
  invaluable to the process: "These single parent students know firsthand w
 hat opportunities and challenges their communities face and how decent\, s
 afe\, and affordable housing can help families to thrive in their neighbor
 hoods\, schools\, and jobs.”\n\nThe students on the selection committee 
 are participants in the Ivy Parents Achieve Success with Support (I.PASS) 
 Program at Ivy Tech Community College Muncie-Henry County.\n\n"We are exci
 ted that IHCDA selected Muncie Ivy Tech students as selection committee pa
 rticipants\,” said Ivy Tech Community College Chancellor Jeffrey D. Scot
 t. “We continue to encourage our students to build social capital and ne
 twork while they are taking courses at Ivy Tech. We know our students have
  positive impact in their communities\, and the state of Indiana now and i
 nto the future. We are committed to providing valuable marketable student 
 experiences as they build their resumes.”\n\nThe next step for the selec
 ted developers is to finalize their housing concepts and submit that infor
 mation to IHCDA. All developers not selected will receive technical assist
 ance and training from IHCDA to assist them as they continue implementing 
 solutions in their communities. \n\nClick here for more information regard
 ing IHCDA and the Rental Housing Tax Credits.
LOCATION:
SUMMARY:IHCDA announces Emerging Developers for Rental Housing Tax Credit 
 General Set-Aside
URL;VALUE=URI:https://events.in.gov/event/ihcda_announces_emerging_develope
 rs_forrental_housing_tax_credit_general_set-aside
CATEGORIES:Press Releases
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