February 25, 2016 MEDIA CONTACT Jayne Labes FOR IMMEDIATE RELEASE 502 435-5235 RENTAL HOUSING TAX CREDITS AWARDED IN BRAZIL, IN; 48 TOTAL APARTMENT HOMES Jeffersonville, IN Lt. Governor Sue Ellspermann announced Thursday that the state of – Indiana awarded rental housing tax credits to the multi-family housing development in Brazil known as Davis Zeller Place. The project creates 48 units of high quality, energy efficient affordable senior housing by adaptively reusing the historic, junior high and Davis buildings into 36 units. An additional 12 new construction units are constructed on sites identified through the Blight Elimination Program. The magnitude of this development fundamentally enhances the character of the neighborhood, further contributing to the infrastructure and streetscape improvements already made. A team, led by New Hope Services, Inc., and consisting of City leaders, consultants, attorneys, private investors and the Indiana Housing and Community Development Authority (IHCDA), worked closely in creating the $9.95 million dollar project and fulfilling a need for senior housing. Davis Zeller Place endeavors to continue the preservation and revitalization of these historic landmarks while also replacing blighted structures with high quality new construction. Units located in historic structures preserve the historical elements of the buildings with modern day amenities. All units incorporate design features allowing residents to more easily age in place. Apartment units will range in size from one bedroom to two bedrooms and have rent levels that will meet 30% - 60% of the Area Median Income. Davis Zeller Place supports the economic progress already made in Brazil by creating jobs during the construction phase and in the operation of the building, while adding quality units to the tax base, creating more income for the city's future endeavors. Construction will begin in 2017 and the first apartment units will be available in early 2018. ### About New Hope Services Founded in 1958 by a group of parents of children with special needs, New Hope Services is based in Jeffersonville, Indiana. It is one of the largest and most successful nonprofit organizations in the Louisville region and has been publicly recognized as a model in the delivery of developmental services. Continued next page… Today New Hope’s focus is in three primary divisions: Adult Services, Family Services, and Housing & Community Development. Clients include families and seniors, and adults with developmental disabilities. With about 150 employees, the organization meets the human services needs of people in 14 counties across Southern Indiana. Annually, New Hope touches
February 25, 2016 MEDIA CONTACT Jayne Labes FOR IMMEDIATE RELEASE 502 435-5235 RENTAL HOUSING TAX CREDITS AWARDED IN BRAZIL, IN; 48 TOTAL APARTMENT HOMES Jeffersonville, IN – Lt. Governor Sue Ellspermann announced Thursday that the state of Indiana awarded rental housing tax credits to the multi-family housing development in Brazil known as Davis Zeller Place. The project creates 48 units of high quality, energy efficient affordable senior housing by adaptively reusing the historic, junior high and Davis buildings into 36 units. An additional 12 new construction units are constructed on sites identified through the Blight Elimination Program. The magnitude of this development fundamentally enhances the character of the neighborhood, further contributing to the infrastructure and streetscape improvements already made. A team, led by New Hope Services, Inc., and consisting of City leaders, consultants, attorneys, private investors and the Indiana Housing and Community Development Authority (IHCDA), worked closely in creating the $9.95 million dollar project and fulfilling a need for senior housing. Davis Zeller Place endeavors to continue the preservation and revitalization of these historic landmarks while also replacing blighted structures with high quality new construction. Units located in historic structures preserve the historical elements of the buildings with modern day amenities. All units incorporate design features allowing residents to more easily age in place. Apartment units will range in size from one bedroom to two bedrooms and have rent levels that will meet 30% - 60% of the Area Median Income. Davis Zeller Place supports the economic progress already made in Brazil by creating jobs during the construction phase and in the operation of the building, while adding quality units to the tax base, creating more income for the city's future endeavors. Construction will begin in 2017 and the first apartment units will be available in early 2018. ### About New Hope Services Founded in 1958 by a group of parents of children with special needs, New Hope Services is based in Jeffersonville, Indiana. It is one of the largest and most successful nonprofit organizations in the Louisville region and has been publicly recognized as a model in the delivery of developmental services. Continued next page… Today New Hope’s focus is in three primary divisions: Adult Services, Family Services, and Housing & Community Development. Clients include families and seniors, and adults with developmental disabilities. With about 150 employees, the organization meets the human services needs of people in 14 counties across Southern Indiana. Annually, New Hope touches
Release-Tax-Credits-in-Brazil-IN-for-Davis-Zeller-Place-2.25.16.docx