Tax credit approval clears final hurdle for Overlook Pointe Apartments

A low-income apartment complex is one step closer to becoming a reality on Lafayette's south side.

Posted: Jan 25, 2018 7:39 PM
Updated: Jan 25, 2018 11:57 PM

LAFAYETTE, Ind. (WLFI) -- A low-income apartment complex is one step closer to becoming a reality on Lafayette's south side. The Indiana Housing Authority approved the tax credits and bond volume for the project Thursday.

The approval comes after neighbors, city leaders and the mayor have spent months trying to fight it.

Indianapolis developers Herman and Kittle Properties are expected to build a $32 million low-income apartment complex right off Elston Road, near U.S. 231. The plans call for 248 units in 17 buildings.

The developers asked the Indiana Housing Authority for bond volume and four percent tax credits. The IHCDA approved those Thursday morning.

Mayor Tony Roswarski has been aggressively pushing back against the plans. The mayor made his opinion clear to local, state and federal lawmakers. Congressman Todd Rokita wrote a letter to the Indiana Housing Authority saying he agreed with the mayor's concerns and asked them to vote no.

"This development I think is in a poor location," said Roswarski. "There are no sidewalks it's a long way from the bus stops. There are no real supporting services. I've proven that the ones that they've listed on their application were not accurate with what the groups were intending to do."

Roswarski even tried to have legislation written prohibiting it from being built.

"I am going to continue to work with the legislature and the federal government to get these rulings overturned. And put back in a process that makes sense for local communities," said Roswarski.

However, the decision was out of local control because this piece of property is already zoned R3, which is for multi-family apartments.

Earlier this month, the Tippecanoe County Area Plan Commission gave the developers its approval, along with 12 conditions to follow. For instance, the developers need to extend the water main to the property. They also have to add sidewalks and connect them to others in the area.

If the developers fail to meet all 12 conditions, the approval for a permit will be void.

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