Indiana Code 5-1.2-15.5-14. Priority ranking system for awarding loans; criteria
(b) The ranking system must prioritize making loans for eligible projects to participants that:
Terms Used In Indiana Code 5-1.2-15.5-14
- eligible project: means a project for housing infrastructure. See Indiana Code 5-1.2-15.5-2
- fund: refers to the residential housing infrastructure assistance revolving fund established by section 9 of this chapter. See Indiana Code 5-1.2-15.5-3
- public infrastructure: means any of the following infrastructure that is or will be owned, maintained, or provided by a political subdivision:
Indiana Code 5-1.2-15.5-6
- residential housing: means single family or multifamily housing for rent or sale. See Indiana Code 5-1.2-15.5-7
(A) invested in a housing study within the last five (5) years;
(B) had a housing study performed by a region’s local economic development organization; or
(C) demonstrated the need for housing inventory as indicated by the Indiana state housing dashboard;
(2) have voluntarily revised unified development ordinances, zoning regulations, or other land development rules to allow for:
(A) higher density development;
(B) construction of other housing types including accessory dwelling units and manufactured and modular housing;
(C) adaptive reuse of commercial buildings for residential use; or
(D) waiver or elimination of regulations such as requirements for:
(i) garage size and placement;
(ii) steeper roof pitch;
(iii) minimum lot size and square footage;
(iv) greater setbacks;
(v) off-street parking; or
(vi) design standards that restrict or prohibit the use of code compliant products;
(3) do not have impact fee ordinances;
(4) have secured private, local, state, or federal funds to contribute to the eligible project;
(5) have secured a letter of support from an employer stipulating that the public infrastructure will support residential housing that is in reasonable proximity to employment; or
(6) assist:
(A) homeowners to age in place through restoration or renovation of existing homes; or
(B) communities in preparing for shovel ready housing.
As added by P.L.204-2023, SEC.5.