INDIANAPOLIS – The Indiana Housing and Community Development Authority (IHCDA) on Monday announced five developments, including The Mill in Shelbyville, have received awards from the Low-Income Housing Tax Credit (LIHTC) program, in conjunction with Multifamily Tax Exempt Bonds.
The money incentivizes private developers to fund the acquisition, rehabilitation, and construction of affordable housing communities throughout Indiana. The Mill will receive $22 million in tax-exempt bonds and $1,689,717 in tax credits to create 168 affordable housing units.
IHCDA has administered the LIHTC program to facilitate the creation and preservation of more than 150,000 units in the state since 1987. Click here for more information regarding IHCDA or the LIHTC program.
