INDIANA – Cities and towns in Allen, Elkhart, Fountain, Hamilton, Scott and Vigo counties have closed on more than $25 million in low-interest loans from the State this year for housing development. The loans are provided through the Indiana Residential Infrastructure Fund.
“Indiana’s economy is growing, and our housing supply needs to grow with it,” said Governor Mike Braun. “These investments will save local communities money while helping them ensure Hoosier families have access to a variety of housing options.”
The RIF loan program was created in 2023 to provide financial assistance to municipalities to finance infrastructure projects that support residential housing development in communities demonstrating the need for additional housing inventory based on local job growth.
“Through the RIF program, these communities will — in aggregate — save more than $6.2 million in principal and interest costs, compared to open-market financing,” said Sherry Seiwert, RIF program director with the Indiana Finance Authority…