LAFAYETTE, Ind. (WLFI) - A more than $9 million senior housing facility could end up in the Columbian Park area.
Monday night the Lafayette City Council approved a resolution to help move the project forward. The low to moderate income housing complex would be located on Ferry Street. It would be for people 55 and up.
Monday night's resolution was for a tax abatement. For low-income housing projects, the city needs to be approved for tax credits.
Mayor Tony Roswarski said the 10-year tax abatement will help the project get that approval.
"This is not a place where somebody is going to live for free," said Roswarski. "This is a place where based on their rents could range anywhere from $300-$350 a month to about $700-$750 dollars a month. So people are still paying to live there, but it will be on a sliding scale and we think that's a good development for our community."
There will be a public hearing discussing the development on July 9.