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Trust fund committee commits $250,000 to Echo Housing’s 400 Reed Street project pending tax-credit award
Summary
The Affordable Housing Trust Fund Advisory Committee voted to reserve $250,000 in gap funding for Echo Housing’s proposed 32‑unit mixed‑income project at 400 Reed Street, contingent on a successful Low‑Income Housing Tax Credit (LIHTC) allocation and a development loan from IHCDA.
The Affordable Housing Trust Fund Advisory Committee voted to reserve $250,000 in grant funds for Echo Housing and Community Development’s proposed 400 Reed Street housing project, contingent on the project receiving a Low‑Income Housing Tax Credit (LIHTC) allocation and a development fund loan from the Indiana Housing and Community Development Authority (IHCDA).
Echo Housing representative Eric Tilkemeyer described the proposal as a 32‑unit building with one‑, two‑ and three‑bedroom units priced at several affordability bands: under 30 percent, under 50 percent, and under 80 percent…
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