LAFAYETTE, Ind. (WLFI) - A more than $9 million senior housing facility is one step closer to reality. Monday, the Lafayette City Council took steps to support the proposal near Columbian Park. However, there is still a ways to go.
The low to moderate income housing complex would be located on Ferry Street. It would be for people 55 and up.
Monday night, the council approved two resolutions. One of the resolutions was for a 10-year tax abatement. The second was for a neighborhood study, which was required by the Indiana Housing and Community Development Authority.
The next step for the project is to be approved by IHCDA. However, it's a tough and competitive process.
Last year, there were more than 64 applications for similar projects and only 25 percent got funded. That being said, many are hopeful this project will be approved.
"I think the location is going to help. Lafayette is really strong. And the community is really strong as well," said Business Development Specialist Danelle Biberstine with Keller Development. "I think it's going to stand out plus, then there's also the amenities that are around the development that will help it stick out."
The application needs to be in to IHCDA by July 30. The city will find out if the project has been approved by Nov. 15. If approved, construction would begin next summer.