Moed bill to help increase affordable housing supply passes out of House

Today, a bill authored by Rep. Justin Moed (D-Indianapolis) to help the city increase Indianapolis' affordable housing supply passed out of the House by a 91-0 vote.

House Bill 1157 will expand the ways in which the City of Indianapolis can incentivize residential housing development programs. Under the provisions of the bill, DMD can leverage tax increment financing, bonding and leasing on vacant or abandoned property to develop affordable housing units. Previously, this tool was only accessible to 91 of 92 counties (with Marion County excluded from its use).  

“I am grateful the House of Representatives came together in a bipartisan fashion to give Indianapolis tools to develop affordable housing that the rest of Indiana has had for several years,” Moed said. “This legislation will empower our neighborhoods to develop new housing in a strategic, fiscally wise and locally controlled manner. Our city should be a place where everyone can put down roots – and a greater supply of affordable housing will get us closer to that goal.”

The bill now moves to the Senate for consideration.