Grant dollars
will support Indianapolis' first
Equitable Transit- Oriented Development (ETOD) program
INDIANAPOLIS, Sept. 14,
2023 /PRNewswire/ -- The KeyBank Foundation has
awarded Indianapolis Neighborhood
Housing Partnership (INHP) a $300,000
grant to continue its efforts to create or preserve affordable
housing opportunities near Indianapolis transit lines as part of the
city's first Equitable Transit-Oriented Development (ETOD) program.
Through this program, INHP acquires and holds properties within a
half mile of IndyGo's 15-minute frequency routes to give developers
time to prepare optimal site plans that will offer affordable
housing for families earning low and moderate incomes.
The funding will support costs to maintain and hold the
properties in this land bank. Since 2018, INHP has acquired 17 ETOD
properties and has sold seven to developers as it works to reach
its goal of providing 1,000 affordable units to Indianapolis residents.
"INHP is grateful for KeyBank's generous support as a partner in
the ETOD program," said Gina Miller,
president and CEO of INHP. "These funds will allow us to sustain
this strategy and achieve positive outcomes for the people and
neighborhoods we serve."
Studies show Indianapolis'
families spend an average of 46 percent of their income on housing
and transportation. Through the ETOD program, INHP is promoting
housing choice and affordability while also providing access to
jobs, education, healthcare, food and cultural amenities – all
needed for economic mobility.
"INHP plays a pivotal role in the Indianapolis community connecting people to
the necessary resources for affordable housing," said Juan Gonzalez, KeyBank's Central Indiana Market
President. "Key is incredibly proud to support INHP and follow
through on our commitment to help the organizations and residents
we serve thrive. This partnership will not only strengthen our
community, but it will provide equitable access to jobs, education,
healthcare and more."
Since 2017, Key has made community investments totaling more
than $930 million in Central Indiana which supports low to moderate
income individuals and neighborhoods through lending for affordable
housing, small businesses, mortgage and transformative
philanthropy.
ABOUT KEYCORP
KeyCorp's (NYSE: KEY) roots trace back nearly 200 years to
Albany, New York. Headquartered in
Cleveland, Ohio, Key is one of the
nation's largest bank-based financial services companies, with
assets of approximately $195 billion
at June 30, 2023. Key provides
deposit, lending, cash management, and investment services to
individuals and businesses in 15 states under the name KeyBank
National Association through a network of approximately 1,000
branches and approximately 1,300 ATMs. Key also provides a broad
range of sophisticated corporate and investment banking products,
such as merger and acquisition advice, public and private debt and
equity, syndications and derivatives to middle market companies in
selected industries throughout the United
States under the KeyBanc Capital Markets trade name. For
more information, visit https://www.key.com/. KeyBank is Member
FDIC.
ABOUT INHP
The Indianapolis Neighborhood
Housing Partnership® (INHP) creates affordable housing solutions
for people with low and moderate incomes, and collaborates to
enhance quality of life in Indianapolis neighborhoods. INHP supports
people by providing homebuyer and financial education, one-on-one
homeownership advising, home purchase and home repair lending, and
economic mobility programming for renters. As a Community
Development Financial Institution (CDFI) INHP also supports the
creation or preservation of affordable housing through investments
in affordable housing development, land banking, community lending
and grantmaking. For more information, visit INHP.org.
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SOURCE KeyCorp