The City of Indianapolis was awarded $55 million in New Market Tax Credits by the US Treasury Department. This is the City’s third New Market Tax Credit award in the last 20 years. The funds will be used to support redevelopment efforts, including the ongoing projects on the PR Mallory campus.
City of Indianapolis
New Market Tax Credits
The U.S. Small Business Administration (SBA) recently awarded BOI $180,000 through its Program for Investment in Micro-Entrepreneurs (PRIME) to continue funding BOI’s Re-Entry Entrepreneurship Development Initiative (REDi) for current and formerly incarcerated individuals to explore small business ownership as a means of self-sufficiency.
The organization will fund investigations to uncover allegation and systemic forms of housing discrimination. The organization will also provide a limited number of education deliverables under this grant to expand fair housing knowledge. This grant was administered by the Department of Housing and Urban Development.
RecycleForce has been awarded funding through the Department of Labor’s Pathways Home program. The project will identify inmates incarcerated in the Marion County jail who are interested in training for employment in specific high demand industries in the community, including logistics, recycling, manufacturing, hazardous material handling, and construction.
INHP applied as a sub-grantee of Housing Partnership Network through the Department of Housing and Urban Development’s Housing Counseling Program. Funds awarded to INHP through HPN are used to support the INHP Homeownership Preparation Program at all four INHP locations, including the John Boner Neighborhood Center. The grant will partially underwrite the salaries and benefits of the INHP Homeownership Advisors providing one-on-one homeownership advising to clients.