Indianapolis faces a critical shortage of safe, affordable housing. Now millions in federal money is set aside for the preservation and creation of housing solutions.
The American Rescue Plan and HUD money will go toward a wide variety of projects in the coming years. The Indianapolis Department of Metropolitan Development presented plans to distribute more than $55 million to a commission this week.
DMD Deputy Director of Strategy and Collaboration Rusty Carr said the vision is based on data and community discussion.
“We wanted to understand from our partners as we have this historic amount of funding, what really makes the best sense and how do we really think about this money in the long term and address really deeply rooted issues,” Carr said.
The money will address mortgage reform, home repair, eviction prevention, rental improvement and neighborhood redevelopment efforts.
DMD paid close attention to equity and gaps in homeownership and found a need to reform and create opportunity.
Carr said programs like the owner-occupied repair will get more money but reform is also the goal.
“We know that if we just put $10 million into the program that exists it’s not going to get us the results that we want and the change that we want,” Carr said.
An additional $2 million will go to the Housing to Recovery fund that addresses supportive solutions for people experiencing homelessness.
DMD also laid out plans for four approved projects that will create 450 new units for low income residents.
Special attention was also given to neighborhoods that are losing affordable housing.