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Nonprofit developers, INHP update commissioners on tax-lien properties and rehab plans
Summary
Martindale-Brightwood CDC and INHP told Marion County commissioners on March 17 that several properties acquired through tax-lien sales are under renovation or planned for redevelopment into homes for buyers at about 80% AMI, describing budgets, grant awards and environmental-review timelines for multiple parcels.
Marion County commissioners received updates March 17 from Martindale-Brightwood Community Development Corporation and the Indiana non-profit housing partner INHP on properties acquired through the county’s tax-lien sales and the groups’ plans to renovate or rebuild them for sale to income-eligible buyers.
Jasmine Buchanan, senior director of real estate at Martindale-Brightwood CDC, listed properties obtained in the 2022 tax sale — including 2749 Station Street, 2873 Stewart and 4500 Hillside Avenue — and said several 2023 acquisitions also have project agreements in place. Buchanan told the commissioners the CDC received a $20,000 Urban League Round 4 grant to help fund renovation of one house and outlined an approximate $135,000 budget for a different renovation. She said the CDC received $125,000 for 2844 Brookside Avenue in Round 4 funding and plans to engage Jumpstart Indy graduates as project managers on some work.
Buchanan also described community outreach tied to the Martindale-Brightwood quality-of-life plan and cited a resident survey (about 120 responses) that indicated roughly 80% of respondents are renters, a fact she said reinforces the CDC’s emphasis on fostering homeownership in the neighborhood.
Jeff Hasser, director of housing strategy at INHP, gave a separate update on INHP projects acquired through recent tax sales. He described work at properties including 520 North Grama Street (rehab), 2126–2128 Delaware Street (split into two units), 3209 North Priscilla/3212 North Fulton and others. Hasser said the rehab at 520 North Grama has interior framing largely complete, estimated rehab costs at about $287,000 and indicated a projected sale price of $225,000 with down-payment assistance to make the home affordable to an 80% AMI buyer. For other projects he described budget estimates, the use of CDBG funds and a federal environmental-review process that delayed starts; several projects have construction timelines tied to completion of environmental review and to grant awards.
Both presenters emphasized financing and timing uncertainties. Buchanan and Hasser said some parcels remain subject to litigation or pending tax-sale objections, and both organizations are seeking multiple funding sources — including Federal Home Loan Bank or city funds — to close financing gaps. Hasser described INHP’s “first look” program that gives preapproved INHP clients two weeks of exclusive viewing before offers are accepted.
Commissioners did not take a vote on the presentations; they asked questions about client selection and outreach and encouraged developers to invite commissioners to milestone events such as groundbreakings and ribbon cuttings.
