>>GERRY: THE
MARTINDALE-BRIGHTWOOD
NEIGHBORHOOD ON THE NEAR
NORTHEAST SIDE OF INDIANAPOLIS
IS UNDERGOING A MAJOR
TRANSFORMATION, THANKS TO
COLUMBUS-BASED CUMMINS AND A
MORE THAN $1 MILLION GRANT.
CUMMINS SAYS THE GRANT WILL BE
USED TO FUND MORTGAGES TO
LOW-INCOME RESIDENTS BUYING ONE
OF 12 NEWLY CONSTRUCTED HOMES.
I'M PLEASED TO WELCOME TO THE
SHOW CUMMINS VICE PRESIDENT OF
COMMUNITY RELATIONS MARY
TITSWORTH CHANDLER ON THE
INITIATIVE.
MARY, ALWAYS GREAT TO HAVE YOU
ON THE SHOW.
>> HI, GERRY.
THANKS FOR HAVING ME.
>> THIS IS AN INTERESTING
INITIATIVE.
COMPANIES ALL OVER THE COUNTRY
ARE LOOKING FOR WAYS TO HELP
BUILD COMMUNITY.
AND THIS, I THINK, IS A UNIQUE
WAY.
AND IT REALLY DOES GET AT BLACK
HOMEOWNER EQUITY AND ALLOWING
AFRICAN-AMERICANS TO BUILD
WEALTH.
TALK ABOUT KIND OF HOW THE
PROGRAM -- HOW YOU CAME UP WITH
THE IDEA FOR THE PROGRAM.
>> SO, IN LOOKING AT THE MANY
PROBLEMS THAT HAVE KEPT BLACK
PEOPLE FROM ATTAINING THE SAME
LEVEL OF WEALTH, REALLY, THAT
WHITE PEOPLE DO.
AND HOMEOWNERSHIP AND DENIED
HOMEOWNERSHIP IS ONE OF THOSE
WAYS.
AS MANY OF US KNOW, OUR HOMES
ARE THE MAIN WAY THAT WE SAFE.
AND SO IT'S ALL ABOUT PROBLEM.
WE BEGIN TALKING TO A LOT OF
REALLY EXPERT COMMUNITY
PARTNERS, INCLUDING RENEW,
INDIANAPOLIS, AND MARTIN
CHRISTIAN CENTER, THE MARTINDALE
BRIGHT CDC, HOW CAN WE HELP YOU
SOLVE THE PROBLEM.
THAT'S HOW WE STARTED.
>> MONEY ALWAYS HELPS, BUT IT IS
THE WAY IT IS DEPLOYED.
THE MILLION DOLLAR GRANT WILL BE
DEPLOYED TO HELP BUILD AND BUY
12 HOMES.
>> YES.
THE CITY OF INDIANAPOLIS AND
THEIR FUNDING IS HELPING BUILD
THE HOMES, TOO.
OUR MONEY IS SPECIFICALLY GOING
TO HELP FILL THOSE GAPS THAT A
LOT OF PEOPLE FACE WHEN THEY TRY
TO BUY A HOUSE.
FOR EXAMPLE, PUTTING TOGETHER A
DOWNPAYMENT.
OUR MONEY WILL HELP FILL
DOWNPAYMENT ASSISTANCE, FOR
EXAMPLE.
THEN IT WILL IMMEDIATELY, OR
OVER TIME INURE OR BECOME PART
OF THE HOMEOWNERS' EQUITY OR
SAVINGS IN THE HOUSE.
>> INTERESTING, TOO, THAT THE
PEOPLE WHO ARE GOING TO BE
BUILDING THE HOMES, THE
CONSTRUCTION WORKERS, AND ALL
THE DIFFERENT ANCILLARY SUPPORT
WORKERS WILL BE BLACK
INDIVIDUALS, AS WELL.
>> THAT'S RIGHT.
SO WE'RE LOOKING AT EVERY SINGLE
PIECE OF THE VALUE CHAIN.
OF COURSE WE KNOW THAT REALTORS,
DEVELOPERS, BUILDERS, RENEW IS
WORKING HARD WITH US TO IDENTIFY
LARGELY BLACK PROFESSIONALS TO
FULFILL THOSE ROLES.
SO IT WILL BE A NEIGHBORHOOD
ENRICHMENT, IF YOU WILL, MORE
THAN JUST THE HOUSE THAT SELLS.
>> DO YOU ANTICIPATE THIS COULD
BE AN ONGOING PROGRAM.
I KNOW YOU'RE JUST GETTING
STARTED NOW.
BUT AS YOU LOOK AT THE METRICS
AND THINGS LIKE THAT, THAT THIS
CAN BE AN ANNUAL PROGRAM?
>> YOU KNOW, I THINK IT WILL
TAKE A WHILE TO BUILD THE
HOUSES, BUT WE'RE CERTAINLY
LOOKING AS A PILOT TO LEARN FROM
AND REPEAT NOT ONLY IN
INDIANAPOLIS, BUT IN OTHER
CITIES WHERE CUMMINS HAS A
PRESENCE.
AND WE ALSO HOPE, GERRY, THAT
OTHER FUNDERS, BANKS,
FOUNDATIONS, WILL LOOK AT THIS
PROGRAM AND SAY, HEY, THIS IS A
REALLY UNIQUE WAY TO SOLVE THE
PROBLEM.
LET'S DO SIMILAR THINGS IN OTHER
NEIGHBORHOODS OR EVEN IN THE
BRIGHTWOOD NEIGHBORHOOD ALSO.
>> MAJOR INITIATIVE, THE
MARTINDALE-BRIGHTWOOD HERE IN
INDIANAPOLIS, MARY TITSWORTH
CHANDLER COMING TO US FROM
CUMMINS BEAUTIFUL OFFICE IN
DOWNTOWN INDIANAPOLIS.
MARY, THANKS FOR JOINING US,