10/11/2005
Media Contact:
Justin Ohlemiller, [317] 327-6709 |
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Mayor praises council for approval of $1.5 million allocation of fed funding for affordable housing
Council vote also gives green light for city to begin allocating $800,000 from Housing Trust Fund Indianapolis – Mayor Bart Peterson today praised the Indianapolis City-County Council for approving two proposals that will support the city's efforts to create more affordable housing opportunities in Indianapolis. Last night, the council voted to allocate $1.5 million in federal grant funding that will be invested in a number of initiatives to aid low-income households – including those on the brink of homelessness – afford and maintain quality housing.
The council also took action to appropriate $800,000 from the Indianapolis Housing Trust fund, giving the city the green light to begin investing that money in affordable housing initiatives.
"A fundamental aspect of a healthy, vibrant community is providing residents – of all income levels – access to quality housing opportunities," Mayor Peterson said. "The funding that the City-County Council signed-off on last night will provide hope and opportunity for a range of people, from those trying to achieve the dream of homeownership, to households struggling to make ends meet and facing the possibility of homelessness."
Decisions on how the Housing Trust Fund money will be utilized will be determined in the coming months with the input of a trust fund oversight committee. Some of the federal funding has already been earmarked for specific initiatives, including:
H Rink-Savoy redevelopment - $235,000: Located Downtown on the Northeast corner of Illinois and Vermont Streets, this long-vacant historic building is being redeveloped into 62 rental units and five condominiums. All housing units will be targeted to low-income households, including 18 rentals reserved for residents earning at or below 30 percent of the area's median income. These units, coupled with supportive services provided by the John H. Boner Community Center, are consistent with the Blueprint to End Homelessness, the city's ambitious plan released in 2002 to end chronic homelessness in Indianapolis. The Blueprint calls for an approach that not only places chronically homeless individuals and families in affordable housing, but also works to prevent future homelessness by helping them obtain the skills and resources they need to remain in their current housing.
H Westside Community Devevelopment Corp. - $248,000: This funding will go to support the construction of 23 new homes on the city's near-Westside. The project is part of a neighborhood revitalization initiative, and all of the houses will be sold to low-income households.
The remainder of the federal entitlement funding provided by the U.S. Department of Housing and Urban Development will be awarded in the coming months to non-profit community organizations through a competitive application process.
Since the Blueprint to End Homelessness was announced, the city has invested nearly $19 million of its annual appropriation from HUD in projects and initiatives that assist very low-income households find and maintain quality, affordable housing. As a result of this investment, more than 1100 very affordable units are being constructed, rehabilitated, rented or preserved.
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