Celebrating 30 Years of the LIHTC Program in South Bend
SOUTH BEND – The Indiana Housing and Community Development Authority (IHCDA) joined local and state officials yesterday at the St. Joseph County YWCA Residence in South Bend to bring greater awareness to the Low-Income Housing Tax Credit (LIHTC) program. At the event, organized to celebrate the 30-year anniversary of the LIHTC program, representatives from the development team shared the importance of the property of providing affordable housing and support services.
“LIHTC is the most important tool we have for creating affordable housing in our state,” said Jacob Sipe, Executive Director of the IHCDA. “The St. Joseph County YWCA’s Residence is a prime example of how LIHTC can help support and leverage other public as well as private funds to provide affordable housing.”
Opened in 2004, the YWCA North Central Indiana offers 30 units of safe, affordable, low-income housing for women and children at the YWCA Women’s Shelter. In addition to private rooms, communal dining and on-site child care, the development offers transitional and permanent housing and support services.
“We were happy to join with IHCDA to mark and celebrate the anniversary of the LIHTC program," said YWCA President & CEO Linda Baechle. "Without this program we could have never built this facility which has been a safe home and a place to grow for so many women and their children."
Nearly 20,000 women and children have found safe shelter and stability at YWCA.
"I can't imagine what my life would be like today if I didn't have the YWCA," said Jennifer (last name withheld for privacy). " I am not only safe inside these walls but I have learned so much about myself and about what my future can look like."
The LIHTC program is administered in Indiana by IHCDA. The program is also referred to as the Rental Housing Tax Credit (RHTC) program. Since its inception in 1986, it has helped to develop and preserve over 50,000 units of affordable housing in the United States. This has resulted in an estimated $2.22 billion in local income and $5.64 billion in tax revenue.
IHCDA has plans to travel to several other tax credit properties this fall to celebrate the 30-year anniversary of the LIHTC program which is October 22, 2016.