Housing in the Knox County
READI Amount: $1,700,000
Investment Amount: $14,223,000
Due to ongoing local and regional housing shortages, Knox County is pursuing an aggressive, multi-pronged strategy to upgrade its housing stock. The City of Vincennes and Knox County are partnering with developers on a number of single and multi-family projects that can alleviate the tight housing market and attract new residents.
These projects are in multiple and diverse locations, including downtown development in Vincennes, single-family home construction in Bicknell, and other locations. All these potential projects face economic headwinds.
Each project is unique, yet their challenges are similar in that developers need a modest public subsidy to support construction. In most cases, this funding will be allocated to the provision of essential infrastructure, either to extend municipal water and sewer service to the site, or to subsidize infrastructure internal to the development to ensure home prices or apartment rents are affordable to workers and families.