On Friday, February 26th, Lt. Governor Sue Ellspermann announced the state is awarding more than $14.3 million in rental housing tax credits to 18 multi-family housing developments throughout Indiana. Project activities include new construction, rehabilitation, adaptive reuse (conversion of existing structures), and the preservation of historic buildings funded through the Internal Revenue Service Section 42 Rental Housing Tax Credit (RHTC) program.
The proposed Plymouth Ridge Housing Project, located on Jefferson Street at the former Norwayne Lumber site, was not funded. The Plymouth project would have constructed 80 new rental units for low income families. The reason given for denial is that the project did not score highly enough to be funded. There were fifty applications received by the Indiana Housing and Community Development Authority, the agency that administers this program.
