Last fall Marshall County’s Habitat for Humanity took bids for the Habitat Homeowner Project. The project would build 10 new homes, 3 in Argos and Bourbon and 4 in Plymouth. Local architect Brent Martin said, “Unfortunately, we got hammered by escalating building material prices that brought the project in over budget.” Martin said since the bid opening their team has been looking for other funding opportunities to fill the gap.
About two weeks ago, they had a conference call with Indiana Housing and Community Development Authority (IHCDA) which is providing the bulk of the grant money for the project. He said they have increased the subsidy per house from $40,000 up to $60,000 which fills the gap.
Income requirements remain the same. The purchaser must have a yearly income at or below 80% of the median income for Marshall County. For a family of four, that is $52,000. Dean Byers said, “With the various grant funds we are able to keep the mortgage for these homes at $150,000.”
Martin explained, “The maximum grant award remains at $400,000 so that means if we build 6 homes which equals $360,000 we are leaving $40,000 on the table. With an additional $20,000 we could build the 7 home.”
The committee has been seeking additional funding sources but has yet to heard back from them. The additional $20,000 needed would build the third home in Plymouth. The issue is the IHCDA needs to know in short order if the grant will build 6 or 7 homes. Their request to the Plymouth City Council was up to $20,000. Martin said, “If we find additional funding from other sources, the amount of the City contribution will go down accordingly.”
After some discussion, the city council voted 5 to 2 in favor of being a “stop gap” for the project if additional grants are not awarded. Duane Culp and Randy Longanecker voted against the plan with concerns of where the additional $20,000 would come from.