Sec. 14. (a) The authority shall develop and use a priority ranking system in making loans from the fund.

     (b) The ranking system must prioritize making loans for eligible projects to participants that:

(1) have:

(A) invested in a housing study within the last five (5) years;

(B) had a housing study performed by a region’s local economic development organization; or

(C) demonstrated the need for housing inventory as indicated by the Indiana state housing dashboard;

(2) have voluntarily revised unified development ordinances, zoning regulations, or other land development rules to allow for:

(A) higher density development;

(B) construction of other housing types including accessory dwelling units and manufactured and modular housing;

(C) adaptive reuse of commercial buildings for residential use; or

(D) waiver or elimination of regulations such as requirements for:

(i) garage size and placement;

(ii) steeper roof pitch;

(iii) minimum lot size and square footage;

(iv) greater setbacks;

(v) off-street parking; or

(vi) design standards that restrict or prohibit the use of code compliant products;

(3) do not have impact fee ordinances;

(4) have secured private, local, state, or federal funds to contribute to the eligible project;

(5) have secured a letter of support from an employer stipulating that the public infrastructure will support residential housing that is in reasonable proximity to employment; or

(6) assist homeowners to age in place through restoration or renovation of existing homes.

As added by P.L.204-2023, SEC.5. Amended by P.L.90-2024, SEC.3.