HEBRON, IND. – The Indiana Housing and Community Development Authority (IHCDA) joined local and state officials earlier today at Misty Glen Apartments in Hebron to bring greater awareness to the Low-Income Housing Tax Credit (LIHTC) program. At the event, organized to celebrate the 30-year anniversary of the LIHTC program, representatives from the development team shared the importance of the property of providing affordable housing and support services.
“LIHTC is the most important tool we have for creating affordable housing in our state,” said Jacob Sipe, Executive Director of the IHCDA. “Misty Glen is a prime example of how LIHTC can help support and leverage other public as well as private funds to provide affordable housing.”
Developed and managed by Flaherty & Collins Properties, Misty Glen Apartments offers 80 one, two and three bedroom apartment homes that are safe and affordable. Located in Hebron, the apartments are just minutes away from neighboring Valparaiso.
“On behalf of Misty Glen, Flaherty & Collins Properties is pleased to be a part of the celebration of 30 years of the Low-Income Housing Tax Credit Program,” said Jill Herron, Senior Vice President of Management for Flaherty & Collins Properties. “For 30 years, the IHCDA has made a tremendous impact in cities, towns and communities throughout Indiana with the LIHTC program.”
The LIHTC program is administered in Indiana by IHCDA. The program is also referred to as the Rental Housing Tax Credit (RHTC) program. Since its inception in 1986, it has helped to develop and preserve over 50,000 units of affordable housing in the United States. This has resulted in an estimated $2.22 billion in local income and $5.64 billion in tax revenue.
IHCDA has plans to travel to several other tax credit properties this fall to celebrate the 30-year anniversary of the LIHTC program which is October 22, 2016.