§ 5-1.2-15.5-14 — Priority ranking system for awarding loans; criteria

Indiana § 5-1.2-15.5-14

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.2: INDIANA FINANCE AUTHORITY
• Ch. 15.5: Residential Housing Infrastructure Assistance

Text

(a) The authority shall develop and use a
priority ranking system in making loans from the fund.
(b) The ranking system must prioritize making loans for eligible
projects to participants that have adopted and implemented a majority
of the following policies for residential housing:
(1) Have:
(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 of duplexes, triplexes, and
fourplexes in areas designated for single family homes;
(B) construction of other housing types including accessory
dwelling units and manufactured and modular housing;
(C) adaptive reuse of commercial buildings for residential use
such as allowing multifamily development in retail, office, and
light manufacturing zones;
(D) increasing the allowable floor area ratio in multifamily
housing areas; or
(E) 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;
(vi) design standards that restrict or prohibit the use of code
compliant products; or
(vii) property height limitations.
(3) Have streamlined or shortened the permitting processes and
timelines, including through one stop and parallel process
permitting.
(4) Do not have impact fee ordinances.
(5) Have secured private, local, state, or federal funds to
contribute to the eligible project.
(6) 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.
(7) Assist homeowners to age in place through restoration or
renovation of existing homes.
(8) Have established density bonuses.
(9) Use property tax abatements to enable higher density and
mixed income communities.
(10) Have donated vacant land for affordable housing
development.

Legislative History

As added by P.L.204-2023, SEC.5. Amended by P.L.90-2024, SEC.3; P.L.146-2025, SEC.1.