Columbus unveils program for affordable housing construction incentives

Columbus will be offering grants to encourage builders to tear down dilapidated structures or fill vacant lots in the city and rebuild new affordable housing.

According to city officials, the city has allocated $460,000 to award to qualified builders through the new Providing Affordable Construction and Transformation or PACT program.

The homes must adhere to universal design principles, city codes, and zoning regulations, and should have a final selling price below $300,000. The homes must be single-family homes for moderate income families built to in-fill existing neighborhoods. Homes built in new subdivisions are not eligible.

The incentive payments will be issued after the home is sold to an individual buyer. Selling to corporate or LLC buyers is not permitted for this program. The incentive will vary based on the type of construction and final price range for the homes.

Builders with a good standing in the state of Indiana, a solid credit history, and verified tax filings from the most recent year are welcome to apply for this program.

The program will wrap up in December of next year. For more information: www.columbus.in.gov/community-development/pact-program/. For questions you can contact Paul W. Smith, assistant director of community development at [email protected]