Statewide Celebration for the 30th Anniversary of the LIHTC Program
INDIANAPOLIS – The Indiana Housing and Community Development Authority (IHCDA), who administers the Low-Income Housing Tax Credit (LIHTC) program in Indiana, hosted a Statewide Celebration today to commemorate the 30-year anniversary of the program. The celebration included remarks from local, state and federal representatives working on the LIHTC program at Millikan on Mass, a tax credit property in Downtown Indianapolis.
“We are fortunate to have an outstanding network of developers in Indiana," said Jacob Sipe, Executive Director at IHCDA. "Their hard work and commitment has allowed us to provide affordable housing to thousands of Hoosiers throughout the state."
Millikan on Mass, which is part of the Barton Block operated by Insight Development Corporation, was the site of the Statewide Celebration. At the 2016 Indiana Housing Conference, the Barton Block received the Lt. Governor's Excellence in Affordable Urban Housing award for their unique mix of commercial businesses, market rate and affordable housing.
October 22, 2016 will mark the 30th Anniversary of LIHTC program. Also referred to as the Rental Housing Tax Credits (RHTC) in Indiana, this program has helped to develop and preserve over 50,000 units of affordable housing in Indiana. This has generated an estimated $2.22 billion in local income and $5.64 billion in tax revenue.