INDIANAPOLIS — The KeyBank Foundation is giving $500,000 to help current near east side residents living in the St. Clair Place neighborhood make home improvements. This grant will be distributed over the next five years through the Indianapolis Neighborhood Housing Partnership (INHP).
The KeyBank Foundation’s grant will be used to fund INHP’s Stabilization Repair Loan program in the neighborhood, which helps low- to moderate-income families prevent deferred maintenance issues by making repairs to roofs, windows, HVAC systems, exterior paint or siding. Families who qualify for the program can receive a maximum loan of $12,500 to make home repairs. The loan has a zero percent interest rate and deferred payments, making it affordable for a low- or moderate-income homeowner.
The Stabilization Repair Loan program aims to:
• Improve the long-term homeownership potential of low-income families
• Improve the condition of the housing stock
• Improve the neighborhood’s visual appeal
• Finance repairs to prevent homeowners from needing additional repairs in the future