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VERSION:2.0
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CALSCALE:GREGORIAN
X-WR-CALNAME:Three Developers selected to participate in the Moving Forward
  Rural Development (RD) Program
X-WR-TIMEZONE:Indiana (East)
BEGIN:VEVENT
DTSTAMP:20260615T150520Z
UID:tag:localist.com\,2008:EventInstance_34935196997243
DTSTART;VALUE=DATE:20180816
DESCRIPTION:INDIANAPOLIS - The Indiana Housing and Community Development Au
 thority (IHCDA) announced today that Biggs Development\, Justice Property 
 Management & Greystone Affordable Development and Woda Cooper Companies we
 re selected to participate in the Moving Forward Rural Development (RD) Pr
 ogram. IHCDA\, in partnership with Energy Systems Network (ESN)\, will wor
 k with these three groups to take on the challenge to preserve a minimum o
 f 30 USDA Rural Development (RD) properties.\n\n \n\n“The purpose of Mov
 ing Forward Rural Development is to create and implement long-term strateg
 ies to overcome challenges\," said Lt. Governor Suzanne Crouch\, who serve
 s as board chair of IHCDA. "Through innovative financing and support we ca
 n ensure that much needed affordable housing is preserved across our state
  and available for years to come."\n\n \n\nThere are 472 USDA RD propertie
 s located in Indiana that represent 12\,838 units. Many of these units tar
 get Indiana’s elderly population. As these properties mature and leave t
 he program\, their affordability goes away and it jeopardizes our most vul
 nerable population’s ability to maintain housing that is safe\, decent\,
  and affordable and located in our rural communities.\n\n \n\nTo help addr
 ess this problem\, the groups selected will be provided technical assistan
 ce from IHCDA\, ESN and other subject matter experts as they develop their
  plans to bundle at least 10 properties each into one multifamily portfoli
 o. Additionally\, each developer will be eligible to receive low-income ho
 using tax credits* that have been reserved as well as multifamily bonds.\n
 \n \n\n“We are excited to begin the next iteration of Moving Forward\,
 ” said Jacob Sipe\, Executive Director of IHCDA. “Previously\, this pr
 ogram has been used primarily for new construction. However\, just as impo
 rtant as creating new affordable housing is to preserve our existing affor
 dable housing stock.”\n\n \n\nThe Moving Forward Program\, launched in 2
 015 by IHCDA and Energy Systems Network (ESN)\, is designed to create affo
 rdable housing that increases quality of life while decreasing the cost of
  living for low to moderate income individuals and families. To date\, six
  teams have participated in the program with housing developments planned 
 or currently underway in Bloomington\, Fort Wayne\, Lafayette\, Indianapol
 is\, East Chicago and Gary.\n\n \n\nClick here for more information about 
 the Moving Forward RD Program.\n\n*Per the 2018-19 Qualified Allocation Pl
 an (QAP)\, IHCDA will reserve 10% of its RHTC for the IHCDA General Set-as
 ide. Under this set-aside\, IHCDA reserves credits for developments that f
 urther the Authority’s mission\, goals\, initiatives\, and priorities ir
 respective of the ranking by evaluation factors. The QAP states that the A
 uthority will exercise its sole discretion in the allocation of the IHCDA 
 General Set-aside.\n\n###\n\nIHCDA\, chaired by Lt. Governor Suzanne Crouc
 h\, provides housing opportunities\, promotes self-sufficiency and strengt
 hens communities in order to build an Indiana with a sustainable quality o
 f life for all Hoosiers in the community of their choice. For more informa
 tion\, visit www.ihcda.in.gov or www.in.gov/myihcda.
LOCATION:
SUMMARY:Three Developers selected to participate in the Moving Forward Rura
 l Development (RD) Program
URL;VALUE=URI:https://events.in.gov/event/three-developers-selected-to-part
 icipate-in-the-moving-forward-rural-development-rd-program
CATEGORIES:Press Releases
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