Recently, seven Indiana communities and one county closed on more than $25 million in housing loans from the Indiana Finance Authority in the latest round of financing to expand housing throughout the state.
The loans were provided through the Indiana Residential Housing Infrastructure Assistance Program, which helps local governments cover the costs of housing infrastructure like water distribution systems, electric or gas distribution lines and new streets, roads and bridges. These infrastructure projects can be costly and impede housing development.
This round's low-interest loan awardees include:
Since the program was established in 2023 by a law championed by House Republicans, the Indiana Finance Authority has closed on more than $87 million in loans for housing developments in 20 cities and towns throughout the state. Hoosier communities have added over 3,000 housing units since 2023 through the program.
Seventy percent of the financing is dedicated to communities with populations under 50,000, where lack of housing is more prevalent. The remaining 30 percent is available for communities with populations greater than 50,000.
This year, House Republicans led further efforts through House Enrolled Act 1001 to expand housing availability, lower costs and help more Hoosiers pursue the American dream of homeownership.
To see the full list of cities and learn more about the Residential Housing Infrastructure Assistance Program and application process, visit https://www.in.gov/ifa/residential-housing-infrastructure-assistance-program/.
