Figure 3. Subsidized Housing (2015)
Source: HUD
Housing subsidies in Indianapolis may take
several forms. They may be provided to a
nonprofit or private housing developer to
offset the market gap in the development
of an affordable rental property. They may
provide resources to a community-based
development organization or community
development corporation to rehabilitate
properties to provide rental or affordable
homeownership opportunities. They may
be layered in with other forms of financing
to create mixed-use developments.
In any case, when these subsidies are
utilized, the subsidies trigger affordability
limits, which require the owner of a rental
unit or a homeowner receiving assistance
agrees to certain restrictions in order to
ensure the continued affordability of those
units for a predetermined time period.
In Indianapolis, as in many other cities,
community development corporations
have often been a key source of the
development or preservation of
subsidized housing.
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