WTHR |Lt. Governor distributes $50M for neighborhood stabilization

Lt. Governor distributes $50M for neighborhood stabilization

"We have found communities struggling with blight and foreclosure," Lt. Governor Skillman said. "And with this assistance, communities and non-profits can reverse the downward spiral or even stop it before it starts."

The allocations are as follows:

City of Tell City - $1,875,350
Town of Gosport - $812,000
Four River Resources (City of Linton) - $3,622,770
City of Bicknell - $1,326,489
Dubois-Pike-Warrick Economic Opportunity Committee Inc d/b/a/ TRI-CAP (City of Huntingburg) - $4,544,275
Riley-Newport (City of Indianapolis) - $1,000,000
Southeast Neighborhood Dev. (BH) (City of Indianapolis) - 1,301,900
John H Boner Center (City of Indianapolis) - $1,000,000
King Park Area Dev. Corp. (City of Indianapolis) - $1,000,000
City of New Castle - $2,732,925
Near North Development Corp. (City of Indianapolis) - $667,910
City of Columbus - $1,500,000
City of Terre Haute - $1,850,000
City of Brazil - $1,435,350
City of Lafayette - $7,774,200
City of East Chicago - $1,900,000
City of Michigan City - $2,800,000
City of Mishawaka - $6,500,000
City of Muncie - $1,900,000
City of Hartford City - $1,500,000
Town of Walkerton - $2,956,831

Funding for these grants comes from the federal Neighborhood Stabilization Program, enacted in 2008. The Indiana Housing and Community Development Authority, which awarded the grants, estimates 1,300 properties will be impacted by the NSP funds.

In April, Lt. Gov. Skillman announced part of Indiana's $83 million total -- $33 million -- will be made available to homebuyers purchasing foreclosed homes. Information about both portions of the NSP funds can be found here.

A total of 83 communities or non-profit organizations submitted grant applications after an RFP was issued in December. IHCDA reviewed all applications and conducted site visits for each proposal. Additionally, an outside panel of industry experts reviewed the applications and made recommendations.

"These programs will lead to jobs and improved quality of living in these cities and towns," Lt. Gov. Skillman said. "Indiana's unique two-tiered approach to the Neighborhood Stabilization money will put us on track to revitalized communities across the state."

Details of the community projects will be posted Wednesday, and Lt. Governor Skillman and the IHCDA will hold ceremonies to present the grant money in select cities over the next two weeks. Tentative dates are as follows:

June 4 - East Chicago, Michigan City
June 10 - Terre Haute, Brazil, Bicknell, Gosport, Linton, Tell City, Huntingburg
June 11 - Mishawaka, Walkerton
June 17 - Hartford City, Muncie, New Castle
June 18 - Lafayette