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BRS receives funding for apartments

Blue River Services Inc. recently received three awards that will be used to upgrade housing. The awards, from the Indiana Housing Finance Authority’s federal HOME Investment Partnerships program, totaled $60,000.
Daniel J. Lowe, executive director of BRS, said $30,000 will be used to rehabilitate 14 rental units in three apartment buildings to provide affordable housing to qualifying renters in Harrison County.
Those units, known as Oakview Apartments, are located on Cruse Loop in Corydon.
Blue River purchased the apartments, which were built in 1967, on Sept. 24.
‘Very little has been done (to the apartments), and they need a complete overhaul,’ Lowe said.
Expected repairs include new windows and inner and outer doors; fixing the floors and replacing carpet and vinyl; updating the plumbing and electrical in the units, and replacing water heaters and air conditioning and heating units.
‘Some apartments contain the original furnaces, air conditioning units and water heaters,’ Lowe said.
New stoves and refrigerators will be installed as needed, he added, and parking will be improved to allow for more spaces, some of which will be handicapped parking spaces.
During the renovation, at least one apartment, possibly two, will be made handicapped accessible.
Two additional HOME awards, one for $19,000 and another for $11,000, that Blue River received will be used to develop a new rental housing complex in Harrison County.
The $19,000 award is designated as a predevelopment loan to cover costs, such as architectural and engineering fees, and market and feasibility studies, associated with the construction of 40 rental units. The other award was called a ‘seed money’ loan, and can be used in a similar manner as the predevelopment loan.
Blue River Service’s awards are part of $475,000 approved by the Indiana Housing Finance Authority for affordable housing organizations and developments.
‘The awards … support the affordable housing needs of communities across the state,’ said Lt. Gov. Katherine Davis, who serves as chair of the IHFA Board of Directors. ‘Organizations that have affordable housing as part of their mission will also benefit from these funds.’

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