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Commission approves $500,000 forgivable loan for 42‑unit Sterling Avenue affordable housing project
Summary
Elkhart Redevelopment Commission approved a $500,000 forgivable loan from consolidated South TIF to Advantix Development Corporation to fund an underground stormwater detention system for a 42‑unit affordable, lease‑to‑own housing project valued at about $14 million.
Elkhart — The Redevelopment Commission voted Feb. 10 to appropriate $500,000 from consolidated South TIF funds as a forgivable loan to Advantix Development Corporation to support a 42‑unit affordable housing project on Sterling Avenue.
Mike Hubert, director of development services, said Advantix received low‑income housing tax credits in 2023 and proposed seven townhome buildings with units…
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