IFA Announces Recipients of Second Round of RIF

The Indiana Finance Authority (IFA) unveiled the recipients of the loans from the second round of the Residential Infrastructure Fund (RIF). 12 Indiana communities were approved to receive over $31 million in loans to finance infrastructure projects that support residential housing development.

Communities were selected based on the need for additional housing inventory to accommodate local job growth. The recipients are:

• South Bend Community, Dewry's Revitalization  Project, St. Joseph County, $2,570,000
• Bloomington Community, Retreat at the Switchyard, Monroe County, $2,000,000
• Lafayette Community, Vita Lifestyle, Tippecanoe County, $3,295,000
• Terre Haute Community, Brickyard Estates and Paddock at the Park, Vigo County, $5,500,000
• Jasper Community, Northridge Estates, Dubois County, $2,360,000
• New Albany Community, Budd Road, Floyd County, $1,000,000
• New Albany, Fox Run Commons, Floyd County, $2,500,000
• Warsaw Community, Belle Augusta Section 5, Kosciusko County, $1,055,000
• Marion Community, Jones Heritage, Grant County, $2,600,000
• Attica Community, Shepherd's Landing, Fountain County, $725,000.
• Richmond Community, Smith Hill Housing Development, Wayne County, $4,330,000
• Henry County, Sam Hall Estates, $1,557,000
• Scottsburg Community, Maple Run, Scott County, $1,875,000

In 2023, the Indiana General Assembly established the RIF and revolving fund, with a $75M allocation in the state budget over the biennium. In the first round of the program, 11 Indiana communities were approved to receive $51 million in loans. The IFA prioritizes loan applications from communities with housing-friendly zoning and silos 70% of the funding for those with a population of less than 50,000.

“This second round of funding will help increase housing supply in growing communities that need it,” said Rick Wajda, IBA’s CEO.”  By addressing the housing shortage, more families will have access to affordable homes, which will support sustainable community growth.”