Ellspermann announces $14M rental tax credit

INDIANAPOLIS (WISH) - Indiana is giving $14.3 M in rental housing tax credits to 20 multi-family housing developments, says Lt. Gov. Sue Ellspermann.

The announcement, which was made Thursday, will allow development agencies to preserve historic building, rehabilitate, conversion existing structures and new construction. It is funded through the Internal Revenue Service Section 42 Rental Housing Tax Credit program.

The allocation will fund around 800 housing units and could leverage up to $130M in private development capital.

Developments receiving the credit include The Villages at Van Cleve, Allen Randall Lofts, McKinley School Apartments, Historic Greensburg Square, Walnut Commons, Historic Jennings Apartments, Hawks Arts and Enterprise Center, Prince Street Cottages, Clark's Crossing, Clifton Square, Merici Village, Senior Housing at Anderson YMCA, The Retreat on Washington, The Point on Fall Creek II, Downtown Terrace, RomWeber Flats II, Valley Apartments, Cedar Trace Senior Apartments, Vermillion Meadow Park Apartments and Warren Village.