Section 5-1.2-15.5-14 - [Effective 7/1/2024] Priority ranking system for awarding loans; criteria(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: (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;(B) construction of other housing types including accessory dwelling units and manufactured and modular housing;(C) adaptive reuse of commercial buildings for residential use; or(D) waiver or elimination of regulations such as requirements for: (i) garage size and placement;(iii) minimum lot size and square footage;(v) off-street parking; or(vi) design standards that restrict or prohibit the use of code compliant products;(3) do not have impact fee ordinances;(4) have secured private, local, state, or federal funds to contribute to the eligible project;(5) 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; or(6) assist homeowners to age in place through restoration or renovation of existing homes.
Amended by P.L. 90-2024,SEC. 3, eff. 7/1/2024.Added by P.L. 204-2023,SEC. 5, eff. 7/1/2023.This section is set out more than once due to postponed, multiple, or conflicting amendments.