The Riverside Commons project in Plymouth and in LaPaz is among the 19 recipients awarded assistance through the 2021 Low-Income Housing Tax Credit program.
These tax credits will help create or rehabilitate 929 affordable units in the state that will serve individuals, families, seniors, individuals with disabilities, and individuals experiencing homelessness.
The credits incentivize private developers to fund the construction, acquisition and rehabilitation of affordable housing and communities in the state, according to the Indiana Housing and Community Development Authority.
There were 51 applications received and 19 developments were awarded tax credits. Some were even awarded Development Fund loans, and money from the Housing Trust Fund.
The Riverside Commons Project in Plymouth and the project in LaPaz were awarded $1.2 million, plus a $500,000 Development Fund Loan.
The LaPaz project will be located on the southeast corner Michigan Road and Troyer Street. Eight units of rental housing will be built there. The Plymouth Riverside Commons project will be on the northwest corner of Baker Street and Richter Road near Riverside Intermediate School and the Greenway Trail. There will be a combination of townhouses and apartments at that location.
The low-income housing projects are listed among several projects in the Marshall County Crossroads Regional Stellar Initiative’s Regional Development Plan.
