The Indianapolis Neighborhood Housing Partnership has secured a nearly $27 million grant from Indianapolis-based Lilly Endowment Inc. The nonprofit homeownership organization says the funding will help support specialty lending, foreclosure prevention and placemaking initiatives.
The organization focuses on low and moderate-income families in central Indiana.
INHP president Moira Carlstedt says "this important investment equips INHP to significantly increase our collaboration with community partners to achieve tangible transformation in the lives of Indianapolis families and neighborhoods. Together, our city, our neighborhoods and our residents will thrive. We are humbled by the Endowment’s continued generosity and its confidence in INHP."
Specifically, the organization says the support will provide a boost to two focus areas: direct support to low- and moderate-income families through specialty lending programs, down payment assistance, foreclosure prevention, comprehensive repair lending and other enhanced program offerings; and neighborhood and place-making support, including support for the prevention and reduction of abandoned housing through flexible, long-term and affordable capital for collaborative community development initiatives in targeted geographies.
INHP says Lilly Endowment has also awarded $5.3 million in funding toward organizational operations, collectively bringing the endowment’s nearly three decades of support for INHP to over $172 million.
Since the organization’s launch in the late-1980s, INHP says it has supported at total of more than 33,000 residents through efforts including homebuyer education, financial advising and affordable mortgages.