INDIANAPOLIS — The U.S. Department of Health and Human Services and the U.S. Department of Housing and Urban Development awarded $3.5 million through federal grants to city-wide nonprofits, neighborhood-based Community Development Corporations and the State of Indiana to further initiatives in the newly designated IndyEast Promise Zone (IEPZ), advancing both the Live IndyEast and Work IndyEast Promise Zone goals.
“Today’s announcement is exciting news and demonstrates the benefit of Promise Zone designations for Indianapolis neighborhoods,” said Mayor Greg Ballard. “These grants will expand economic opportunity for our residents and bring permanent jobs to Indianapolis neighborhoods.”
The U.S. Department of Health and Human Services granted awards to four different organizations.
• RecycleForce will use $800,000 to expand its recycling business by purchasing equipment and expanding their hours of operation. This project will create 40 full-time jobs and will support implementation of the Work IndyEast goals of the Promise Zone.
• Englewood Community Development Corporation will use $770,050 for the tenant build out of the new headquarters of 360 Services located in the Koweba Center. This project will create 35 new permanent full-time jobs, with 27 jobs reserved for low-income project area residents and will support implementation of the Work IndyEast goals of the Promise Zone.
• King Park Development Corporation will use $800,000 to capitalize a low interest loan fund to finance two businesses within the Promise Zone. The purchase of equipment, building upgrades, and working capital will create 40 full-time, permanent jobs, with 30 jobs reserved for low-income residents and will support implementation of the Work IndyEast goals of the Promise Zone.
• Indiana Housing and Community Development Authority will utilize a $1 million grant to increase the number of Individual Development Accounts (IDA) provided to low-income family and individuals. IDAs are used as an asset-building tool to enable low-income families and individuals to save towards homeownership, post-secondary education and business ownership. A portion of these accounts will be set aside specifically for residents of the IndyEast Promise Zone.
In addition, the U.S Department of Housing and Urban Development also granted the Fair Housing Center of Central Indiana $174,005 to ensure the compliance of fair housing laws and advocate quality placement of affordable housing opportunities. This grant will also provide outreach on the need for affordable housing to educate and eliminate bias and stereotypes around affordable housing projects.
The John H. Boner Community Center, in conjunction with the City of Indianapolis and ten implementation partners, put forward a successful application leading to the Promise Zone Designation by the Federal government on April 28, 2015. The Promise Zone’s ten-year designation will provide new opportunities to achieve goals set by the Near Eastside residents through the Quality of Life Plan. The IndyEast Promise Zone received its designation a mere five months ago and has already assisted seven different organizations in securing over $7.2 million in funding from four different federal agencies.