For immediate release:
Feb. 27, 2007
House approves Bardon plan for affordable
Housing & Community Development Fund
INDIANAPOLIS — State Rep. Jeb Bardon (D-Indianapolis) gained approval from the Indiana House on House Bill 1351, a plan to redistribute additional money towards the Affordable Housing and Community Development Fund (AHCDF).
Established in 1989, the Affordable Housing and Community Development Fund exclusively benefits low-income Hoosier households. Since its inception, the fund has enabled the development of more than 1,400 units of affordable housing.
The bill provides that any interest collected from the Property Custody Fund and the Abandoned Property Fund be transferred towards the AHCDF starting on July 1, 2007. Under current state law, any interest earned on the Property Custody Fund and the Affordable Housing and Community Fund is transferred to other state funds.
"Affordable housing is a serious issue for many Hoosiers," Bardon said. "It is becoming increasingly difficult for low-income families to find homes that suit their needs. The intent of this legislation is to assist these families, helping them to find homes of a suitable standard.
"I'm very pleased that the members of the House overwhelmingly supported this initiative," he added. "It shows that the General Assembly is concerned about affordable housing in Indiana. I'm optimistic that this legislation will be equally as well received in the Senate."
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