The community-investment committee voted to recommend confirmation of a tax-abatement that will support a low-income housing project being pursued through the federal/state low-income housing tax-credit process. City staff described the project site as a city-owned vacant lot that has been inactive for years and said the developer (an Indianapolis-based firm partnering with the Redevelopment Commission) is pursuing competitive tax credits that require a local match.

Why it matters: the proposed project would produce affordable housing in a redevelopment area and the city’s 10-year abatement would function as the local match required by the funding application. Staff estimated the city’s foregone taxes over the proposed abatement period at roughly $330,000; because the site is city-owned and currently generates minimal tax revenue, staff said there is no existing tax base being replaced.

Staff presentation and committee action: Eric Roberts, director of the Office of Affinity Operations (staff title given in the meeting), summarized the project footprint and the role of tax abatement as the local match. The developer team was on the line to answer technical questions. Committee members asked procedural questions; no public testimony was offered. On roll call the committee voted to recommend confirmation of the abatement, and staff said the abatement is conditional on the developer’s success in securing the housing tax credits and on the project moving forward.

Next steps: staff will transmit the advisory recommendation and continue coordination with the developer and the Redevelopment Commission; if the tax credits are not awarded or the project does not proceed, the abatement would not take effect.