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Land bank agrees to donate 48 parcels to Advantix as part of LIHTC application
Summary
The Evansville Land Bank Corporation approved donating 48 vacant lots to Advantix Development Corporation to support a low-income housing tax credit application, contingent on LIHTC award; the project would create about 51 units and contributes toward the city's 10% local match.
The Evansville Land Bank Corporation voted to donate 48 vacant parcels to Advantix Development Corporation for use in a low-income housing tax credit application, contingent on the developer receiving LIHTC allocation.
Advantix's Brandon Shields, Director of Real Estate Acquisitions, told the Land Bank the scattered-site project would create about 51 living units and that the developer typically priced lots at $500 each.
The land bank staff said the donation could be used as part of the City of…
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