![Tyson Foods Plant [Photo: Food Manufacturing]](https://southarkansassun.com/wp-content/uploads/2023/08/iStock_1185520857__1_.5e441daa51cca-600x337.jpg)
![Silverado Senior Living Management Inc. [Photo: Los Angeles Times]](https://southarkansassun.com/wp-content/uploads/2023/10/download-6-4-600x337.jpg)
![China's Wuhan Institute of Virology [Photo: Nature]](https://southarkansassun.com/wp-content/uploads/2023/09/d41586-021-01529-3_19239608-600x337.jpg)
Intend Indiana Secures $5 Million in New Market Tax Credits for Affordable Housing
Four National Organizations Awarded $5 Million Tax Credits for Community Development
An important boost has been granted to Intend Indiana, a local nonprofit dedicated to community development, in its endeavors to provide affordable housing in Indianapolis. The company just revealed that it was one of only four organizations in the country to obtain $5 million in New Market Tax Credits. The expansion of affordable housing alternatives for low-income families in Indianapolis will be greatly aided by these tax credits, which are often utilized for commercial development in disadvantaged areas. CEO Steven Meyer believes that these tax credits will be essential in helping Indianapolis manage the rising problems associated with homeownership. Many residents now find it more difficult to acquire a home due to factors like limited supply, rising mortgage rates, and greater corporate investment in single-family homes. Meyer stressed that Intend Indiana is dedicated to collaborating closely with neighborhood associations to pinpoint low-income families and prioritize neighborhoods that have traditionally received insufficient funding.
READ ALSO: Homeschoolers And Public School Groups Unite In Opposition Amidst Expansion Plans
$5 Million Tax Credit Lifeline Affordable Housing in Indiana Receives – Promising Future!(PHOTO: Intend Indiana)
Intend Indiana’s Upcoming 22-Home Project Targets Inclusive Neighborhood Development
The project, which aims to build 22 homes in neighborhoods like the near northwest side and Far Eastside, prioritizes inclusivity by setting a goal of selling at least 70% of the homes to African American buyers. Meyer reiterated the organization’s dedication to ensuring that homeownership opportunities are accessible to residents with existing ties to these communities. With the help of the New Market Tax Credits, Intend Indiana is poised to make a tangible difference in providing affordable housing solutions for those who need it most in Indianapolis.
