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EDC recommends $500,000 forgivable loan for Sterling Avenue affordable housing
Summary
The Elkhart Economic Development Commission recommended a $500,000 forgivable loan from consolidated South TIF to Advantix Development Corporation to cover an underground stormwater detention change for a 42‑unit, $14 million Sterling Avenue affordable housing project; the council will hear related ordinances at a Feb. 26 special meeting.
Mike Huber, director of development services for the City of Elkhart, told the Economic Development Commission that Advantix Development Corporation was awarded LITEC credits by IHCDA in 2023 to support a 42‑unit affordable housing project on Sterling Avenue and that the development represents a roughly $14,000,000 investment.
Huber said an electric utility easement affected the rear 30 feet of the parcel and required a redesign that replaced two above‑ground retention…
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