Developer Kevin Berger told the Plymouth City Council members this week that survey work is complete and tax credit paperwork is underway on the Riverside Commons project. He hopes to close on that part of the project August 1 with construction starting soon after closing.
The Riverside Commons project in Plymouth and a similar project in Lapaz were awarded assistance through the 2021 Low-Income Housing Tax Credit program. 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.
The Riverside Commons Project in Plymouth and the Riverside Commons project in Lapaz were awarded $1.2 million, plus a $500,000 Development Fund Loan. The low-income housing projects are listed among several projects in the Marshall County Crossroads Regional Stellar Initiative’s Regional Development Plan.
