Last Updated on November 15, 2018 by cassnetwork
A housing project in Logansport is one of 19 selected by the Indiana Housing and Community Development Authority (IHCDA) to receive Rental Housing Tax Credits (RHTC), which incentivize private developers and investors to provide more affordable rental housing options. This is done through new construction, adaptive reuse and rehabilitation of existing structures.
The ReVere Homes project in Logansport will lead to the new construction of 30 scattered site single family homes by Crestline Development on vacant lots throughout the near-northside of Logansport. The project was awarded $788,738 in RHTCs.
In October 2017, the Logansport City Council approved local incentives including tax abatements, waiving of hookup fees and building permits, and allocation of $150,000 in funds to be used for programs like the 50/50 sidewalk program and curbs and gutters. The council also agreed to allocate $150,000 to be used for a scholarship program for residents of the ReVere Homes Project.
“This represents the greatest single housing project Logansport has had from the standpoint of new home construction in decades,” Mayor Dave Kitchell said Thursday. “We’re grateful for the opportunity afforded us by the Indiana Housing and Community Development Authority to redevelop more than two dozen blight elimination properties in Logansport. This not only will help fill a fraction of the void in our housing market, but it adds to our tax base and improves several neighborhoods. This has been made possible through Daniel Hubbard with Crestline, along with Dave Morris, Mercedes Brugh and Tad Wilkinson of our municipal building corporation, Clerk-Treasurer Stacy Cox and her staff and our city attorney. I think the property owners next to these developments will see a welcome addition to their neighborhoods soon.”