The Indiana Finance Authority (IFA) board recently approved more than $29 million in residential infrastructure funding to be distributed through the Residential Infrastructure Fund (RIF) program.
Locally, the Landon Crossing project in Arcadia will receive $3 million in low-interest 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 IFA prioritizes loan applications from communities with housing-friendly zoning and provides a set-aside of 70 percent of the funding for those projects in communities with a population of less than 50,000.
“Increasing Indiana’s housing supply is essential to supporting our growing workforce and strengthening local economies,” Governor Mike Braun said. “These investments will help communities keep pace with job growth, attract new talent, and ensure more Hoosier families have access to safe, affordable places to live. When we expand housing opportunities, we’re laying the foundation for long-term economic success in every corner of our state.”
In 2023, the Indiana General Assembly established the RIF revolving fund program with an initial appropriation of $75 million to be awarded to local residential-development projects in Indiana. The state legislature appropriated an additional $50 million in the biennial budget for the 2026-2027 fiscal year.
For more information about the RIF, click here.