INDIANAPOLIS — Area lawmakers are urging local communities to apply for the next round of funding from the Residential Housing Infrastructure Assistance Program, which helps communities finance infrastructure projects to support residential housing development.
Applications for the next round of funding are due by Oct. 6.
State Rep. David Abbott said the program is aimed at helping growing Indiana communities meet the high demand for housing by lowering costs and reducing barriers that can impede housing projects. Abbott supported House Enrolled Act 1005, a House Republican priority bill this year, boosting support for the program.
“Affordable home ownership has always been the American dream, it must be available to more Hoosiers,” Abbott said. “With newly increased housing options, communities can attract and retain residents, thereby increasing their workforce that will help to support the local economies.”
State Rep. Joanna King said through the fund, municipal governments can apply for loans for certain infrastructure projects, like electric or gas distribution lines, that are related to residential housing and can be costly and impede development initiatives.
“Public infrastructure is costly when it comes to building new housing,” King said. “By partnering with the state to fund some of these costs, local communities can add to available housing and put more families in their forever homes.”
State Rep. Doug Miller, author of House Enrolled Act 1005, said $82 million in funding during the first two rounds of the program helped Hoosier communities add over 3,000 housing units. Under the new state budget, $50 million was appropriated to the Residential Housing Infrastructure Loan Program over the next two years to continue these efforts.
“The Residential Housing Infrastructure Assistance Program provides local units of government a tremendous opportunity to increase housing stock in their communities and bring additional economic development,” Miller said. “It’s been an honor to work on establishing this program over the past couple years and I’m excited about the new housing we’ve been able to help facilitate.”
“We want to reduce these costs as much as possible for Hoosiers,” said State Rep. Tim Wesco. “With this revolving loan fund, communities can more easily cover the cost of local infrastructure projects, which will help developers build more needed housing.”
House Enrolled Act 1005 also cuts red tape and streamlines the regulatory process to remove timely and costly barriers to housing development. Participants in the Residential Housing Infrastructure Assistance Program will receive priority if they support and prioritize affordable, pro-housing policies.
To learn more about the Residential Housing Infrastructure Assistance Program and application process, visit https://www.in.gov/ifa/residential-housing-infrastructure-assistance-program/.