Logansport's Cass Plaza getting $3.6 million in bond, tax credits

Mitchell Kirk, Staff Writer, (Logansport) Pharos-Tribune

Saturday, July 29, 2017 3:13 PM

The state has approved almost $3.6 million in tax credits and a bond for rehabilitating an apartment complex on Logansport's East End.

The Indiana Housing and Community Development Authority approved a $3.4 million bond and $195,113 in tax credits for a rehabilitation project at Cass Plaza Apartments, according to information released by the IHCDA.

Cass Plaza Apartments, located at 300 Cass Plaza Drive, has 82 one-bedroom units rented to tenants at 60 percent of area median income. The complex is owned by Indianapolis-based Sheehan Development Co. Inc., and rents primarily to seniors.

A development summary for the project provided by the IHCDA states the total estimated cost for the project is almost $6.6 million.

A representative of Sheehan Development Co. declined to comment Friday.

Logansport Mayor Dave Kitchell praised the announcement in a press release, saying the city is grateful for the company's efforts to reinvest in the city.

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Editor, John C. DePrez Jr.; Executive Editor, Carol Rogers; Publishers: IBRC and IAR

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