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Find similar grantsResidential Housing Infrastructure Assistance Program (RIF) is sponsored by Indiana Finance Authority. Offers low-interest loans to Indiana communities for infrastructure projects supporting residential housing development.
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IFA: Residential Housing Infrastructure Assistance Program (RIF) Residential Housing Infrastructure Assistance Program (RIF) The Residential Housing Infrastructure Assistance Program (RIF) provides low interest loans to Indiana Communities to finance infrastructure projects that support residential housing development. As the loans are repaid, the money again becomes available for future financings so that the fund revolves.
Our mission is to address the need for additional housing inventory for Indiana Communities based on local job growth. The uses of the fund are required to be in compliance with IC 5-1. 2-15.
5 (ACT). Residential Housing Infrastructure Assistance Program Application The application for the next round of funding will be made available on June 15, 2026.
Residential Infrastructure Fund Projects (State Funded) 2025 - 2026 Residential Infrastructure Fund Awards: August 4, 2025 - January 30, 2026 RIF Projects Locations: Select a county to view the projects within each county Indiana Residential Infrastructure Fund Power Point Presentation Source of Security and Repayment Terms Disbursement Form Instructions Required Infrastructure Documents Frequently Asked Questions Q.
Can the Residential Infrastructure Fund pay for professional services related to the housing project? A. The State statue prohibits the use of the Fund to pay for fees for studies, reports, designs, or analyses prepared by consultants or engineers for an eligible project.
However, once awarded a loan, the legal and municipal advisor costs can be paid from the loan. Q. Once a Residential Infrastructure Fund loan is approved and closed, how soon is the 1st payment due?
A. Principal and interest on the RIF loan will be payable semi-annually on February 1 and August 1, unless legally restricted to alternative payment dates. Applicants should assume interest will be due on the first payment date after closing, unless otherwise directed by IFA.
Q. Is the loan repayment schedule the same for every application who received funding? A.
Yes, generally, unless there are circumstances that require the standard repayment timeline to be altered. Q. Can a political subdivision apply for a loan greater than the cost of the project to begin making payments on the loan?
A. This would be considered capitalizing interest and that is a decision we will need to evaluate. The more of these limited funds awarded for capitalized interest (cap i), the less available for construction and the slower the fund will revolve.
We may allow it to be requested by a community, however the project would not rank as well as a project that does not need cap i. Q. How long will it take to access RIF funds if selected?
A. IFA will make awards within 90 days and then it will be dependent upon how quickly the community can go through the financing steps to close the loan. Q.
Can the Residential Infrastructure Fund be used to acquire land? The fund can only be used to finance the acquisition of land that is developed as public infrastructure for the construction of permanent physical residential housing structures. 100 North Senate Avenue, Rm.
1275 ifaresidential@ifa. in. gov Indiana Finance Authority
Based on current listing details, eligibility includes: Indiana communities with legal capacity to carry out proposed programs. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates Low-interest loans Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is rolling deadlines or periodic funding windows. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
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