Moed bill to increase affordable housing in Marion County passes out of committee

Today, a bill authored by Rep. Justin Moed (D-Indianapolis) to give Indianapolis more tools to incentivize the construction and rehabilitation of affordable housing by establishing residential housing development programs passed out of committee with an 11-0 vote. The bill now heads to the House floor for amendments and a final vote.

House Bill 1157 will expand the ways in which the Marion County Department of Metropolitan Development 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, some of these tools could only be used when addressing blighted or deteriorating areas.

“Indianapolis families are facing a housing affordability crisis,” Moed said. “Indianapolis is doing the best it can to create more housing options for residents, but its best is only as good as the tools handed to it by the state. That's why this bill would equip the city with more financing options and incentives to develop affordable housing.

“Importantly, this bill does not take away neighborhood control – it requires the city's redevelopment commission to seek input from residents and stakeholders.”