Last year was a milestone that will go down in EHA’s history of accomplishments, and it will surely benefit residents for generations to come. In a cooperative effort, leadership and staff from the Evansville Housing Authority and its non-profit affiliate, Advantix Development Corporation, worked together to seamlessly close the last phase of our transition to RAD after five years of planning and implementation. This organizational transformation represented all 888 units of public housing converting to project-based voucher funding, in addition to over $30 million that was invested into buildings that make up EHA’s current portfolio of quality affordable housing in Evansville, Indiana.
However, EHA does not get to stop there – securing subsidy and repairing buildings is only the beginning. EHA continues to build capacity that can develop and manage additional affordable housing, as with our recent tax credit award for Evansville Townhomes. This project allows us to partner with our non-profit organization, Advantix Development Corporation, to utilize over $7.6 million to preserve and rehabilitate 30 units of affordable housing and create 30 newly constructed units. Completion is expected late 2020. In addition, the Indiana Housing & Community Development Authority (IHCDA) recently announced tax credit approval for Evansville Townhomes II and Erie Pointe.
While these are all great accomplishments in the housing industry and for the City of Evansville, EHA is also committed to improving the quality of life for residents through services, self-sufficiency programs and connecting them with additional resources within the community. As I extend thanks to our Commissioners, team members, and corporate partners, I look forward to finding ways to enhance the lives of our residents and this growing community even more.