March 22, 2007
New Residential Development Program for Terre Haute
The City of Terre Haute, through its Department of Redevelopment, is pleased to announce a new program designed to stimulate residential construction in the city’s older neighborhoods. The Terre Haute Residential Development Program will provide targeted incentives to developers who follow established guidelines to construct new residences.
The program will be available for construction within a defined area in the city, on sites belonging to the city or on those owned privately. The program is designed to pursue a variety of benefits to the community, including the infill of vacant lots, the increase of the city’s tax base, the creation of new, modern living quarters in areas where additional infrastructure construction is minimal, and increased employment brought by construction jobs.
It will also help improve the quality and average age of the city’s inner city housing stock. According to the 2000 census, almost 70 percent of the houses in Terre Haute were built before 1950. More than 42 percent
were built before 1939. Many of the city’s older homes are the jewels of
our historic neighborhoods. Others are a significant cause of urban blight.
Attached to this news release is a listing of incentives provided by the
city, along with requirements asked of developers and builders in order to
participate, and a map of the city showing the area within which the
program will operate.