Indianapolis budget includes master leasing program
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Indianapolis will rent 30 apartments as part of a pilot program to help the city's unhoused residents.
The big picture: U.S. homelessness reached a record high in 2023, Axios' April Rubin reported, as Americans grappled with an escalating housing crisis and the expiration of COVID-era safety nets.
Why it matters: The program is designed to incentivize property owners with vacant units to participate — while providing permanent housing to individuals who face barriers to securing it on their own, either financial or otherwise.
Zoom in: The most recent point-in-time count in Indianapolis recorded more than 1,600 people without housing, and the city estimates there are more than 300 sleeping on the streets on any one night.
- More than a quarter of those experiencing homelessness are families.
- Black residents make up a disproportionately high share — more than half.
Driving the news: Mayor Joe Hogsett signed the city's $1.6 billion 2025 budget this week, which includes roughly $500,000 for the master leasing pilot program.
Reality check: The city had originally hoped to identify more than 100 units for the pilot.
- Some members of the City-County Council, which passed Hogsett's budget proposal last week, criticized the program's small scale.
How it works: Master leasing lets the city or a third party hold leases for individuals who will live in the units, typically apartments.
- The city or third-party leaseholder would assume responsibility, including rent, utilities, etc., at market rate for five years, with multiple tenants able to live in the units during that time.
- Residents would be connected to flexible, community-based services needed to maintain stable housing, helping them transition out of costly emergency or long-term care situations.
What's next: City officials say that though the program is starting small, they hope to add more units in the future.