Intend Indiana lands grant to expand homeownership services to Kosciusko County
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The Kosciusko County Community Foundation has awarded a $2 million grant that will allow an Indianapolis-based nonprofit to expand access to its homeownership assistance programs to the county.
Intend Indiana plans to use the funding to support low-income homebuyers through its HomePower mortgage loan and Homeowner Education programs.
“Kosciusko County is a high-opportunity area where lots of people would like to live, and the dream of homeownership is often out of reach for low-income people,” CEO Steven Meyer said. “So the grant helps us assist those low-income folks who want to achieve home ownership.”
Meyer told Inside INdiana Business the effort will mark the nonprofit’s first foray into Kosciusko County.
“This is the result of years of work on behalf of Kosciusko County; the community foundation has really been a leader in understanding and supporting the affordable housing needs,” he said. “So we are thrilled to be able to be a part of the next step in their activities, to be able to support their community.”
The programs are part of the organization’s Edge Fund initiative, which aims to offer flexible financing to create “equitable and affordable housing opportunities for underserved people and communities.”
The HomePower program offers financial assistance to address barriers to homeownership, such as down payments and closing costs. The program will serve homebuyers at 80% of the area median income or below with a 2% fixed rate for 30 years, according to Meyer.
But Meyer said the Homeowner Education program is key to the effort by preparing people for the responsibilities of homeownership.
“The home buying process and the mortgage process [are] very complicated,” he said. “A lot of the folks that we serve are first in their family to be homeowners, and so making sure that they have all the tools at their disposal to make the decisions that are right for them and their families is very important.”
Intend Indiana provides its services to areas around the state, but Kosciusko County has been a target for the organization for some time.
“Access to housing is a community need we’ve been strategically addressing for the last four years,” Kosciusko County Community Foundation CEO Stephanie Overbey said in written remarks. “We are thrilled to partner with Intend Indiana to deploy their proven homeownership tools for residents of Kosciusko County.”
With the $2 million grant, Meyer said the organization is looking to assist at least 20 homebuyers with the first round of funding. But he hopes to secure additional grants to keep the effort going.
“This is an ongoing program that is being led by the community. So we’ll be looking for other funding sources and other programs to be able to support housing initiatives across the county.”
Intend Indiana rebranded from his previous moniker, Renew Indianapolis, in 2022. In addition to the homeownership assistance through the Edge Fund, the organization oversees initiatives related to housing development, small business lending, and revitalizing vacant and abandoned properties.