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Tax Credits Awarded To Apartments For Homeless And Disabled

By Kyle Clayton

Posted August 25, 2012

Bloomington's Life Designs, organization that provides assistance to those who have developmental disabilities, is one step closer to building housing for the homeless and disabled after receiving roughly four million dollars in tax credits.

Chief Executive Officer of Life Designs Susan Rinne says this is one of four funding sources going towards the construction.

"It is really the big piece that we've been waiting for, we've gotten funding from the City of Bloomington, and some other IHCDA funds and then we're waiting on Federal Home Loan Bank which is the fourth piece," she says.

IHCDA is the Indiana Housing and Community Development Authority, a federal program that oversees tax credits going towards affordable housing.

Rinne says the apartments are slated to be finished by December 2013 and can accommodate 40 individuals in one bedroom apartments.

Bloomington's Shalom Center will also provide funding for residents by paying for utilities, case management and employment services.

The tax credits represent roughly 80-percent of the total funding required to construct the apartments.

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Tax Credits Awarded To Apartments For Homeless And Disabled

By Kyle Clayton

Posted August 25, 2012

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