Low-Income Housing

Lugar Tower project delayed by lack of tax credits

March 26, 2010
Scott Olson
Renovation of apartment building owned by the Indianapolis Housing Agency will have to wait, after it failed to receive the necessary federal backing to fund it. Three other IHA projects, including Caravelle Commons, will move forward, however.
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Indianapolis Housing Agency pulls off big tax credit deal

March 13, 2010
Tom Harton
City agency plans renovations, expansions at eight apartment properties.
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Mass Ave project works toward April approval

March 2, 2010
Tom Harton
Trail Side on Mass Ave would include 69 one-bedroom apartments and about 23,000 square feet of ground-level retail space.
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Affordable-housing group goes on apartment-buying bingeRestricted Content

January 23, 2010
Cory Schouten
Partners in Housing Development seized on a weak real estate market to acquire three urban apartment communities in the last 18 months.
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Grocery, housing projects could rejuvenate stretch of 16th Street

October 10, 2009
Cory Schouten
A troubled low-income housing project has a new owner with plans to redevelop the complex to better connect with the Herron Morton Place neighborhood. Next door, Kroger has revived efforts to acquire land and plan a new supermarket to replace a cramped, old-format location.
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Transit, sustainable development likely to be themes in rescue of near-north neighborhoodRestricted Content

June 1, 2009
Chris O'Malley
Local leaders and, soon, a national team of experts, are quietly developing a strategy to revitalize Marion County's biggest concentration of brownfield sites and impoverished urban neighborhoods, centered at East 22nd Street and the Monon Trail.
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Developer wants to turn project into apartments, officesRestricted Content

May 25, 2009
Cory Schouten
A local developer is hoping to convert an unfinished eight-story luxury condo project downtown into a mostly affordable apartment building with its headquarters on the top floor.
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A new generation takes over Glick apartment empire

March 30, 2009
Cory Schouten
A new generation of company leadership is revving the Gene B. Glick Co. and building and buying apartment complexes again.
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IndyFringe leads effort to build artists' apartmentsRestricted Content

November 10, 2008
Kathleen McLaughlin
Indy Fringe executive director Pauline Moffat and Gary Reiter, a board member of the Indianapolis Theatre Fringe Festival Inc., want to build an affordable live-work complex near Massachusetts Avenue.
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  1. Aaron is my fav!

  2. Let's see... $25M construction cost, they get $7.5M back from federal taxpayers, they're exempt from business property tax and use tax so that's about $2.5M PER YEAR they don't have to pay, permitting fees are cut in half for such projects, IPL will give them $4K under an incentive program, and under IPL's VFIT they'll be selling the power to IPL at 20 cents / kwh, nearly triple what a gas plant gets, about $6M / year for the 150-acre combined farms, and all of which is passed on to IPL customers. No jobs will be created either other than an handful of installers for a few weeks. Now here's the fun part...the panels (from CHINA) only cost about $5M on Alibaba, so where's the rest of the $25M going? Are they marking up the price to drive up the federal rebate? Indy Airport Solar Partners II LLC is owned by local firms Johnson-Melloh Solutions and Telemon Corp. They'll gross $6M / year in triple-rate power revenue, get another $12M next year from taxpayers for this new farm, on top of the $12M they got from taxpayers this year for the first farm, and have only laid out about $10-12M in materials plus installation labor for both farms combined, and $500K / year in annual land lease for both farms (est.). Over 15 years, that's over $70M net profit on a $12M investment, all from our wallets. What a boondoggle. It's time to wise up and give Thorium Energy your serious consideration. See http://energyfromthorium.com to learn more.

  3. Markus, I don't think a $2 Billion dollar surplus qualifies as saying we are out of money. Privatization does work. The government should only do what private industry can't or won't. What is proven is that any time the government tries to do something it costs more, comes in late and usually is lower quality.

  4. Some of the licenses that were added during Daniels' administration, such as requiring waiter/waitresses to be licensed to serve alcohol, are simply a way to generate revenue. At $35/server every 3 years, the state is generating millions of dollars on the backs of people who really need/want to work.

  5. I always giggle when I read comments from people complaining that a market is "too saturated" with one thing or another. What does that even mean? If someone is able to open and sustain a new business, whether you think there is room enough for them or not, more power to them. Personally, I love visiting as many of the new local breweries as possible. You do realize that most of these establishments include a dining component and therefore are pretty similar to restaurants, right? When was the last time I heard someone say "You know, I think we have too many locally owned restaurants"? Um, never...

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