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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowFive Indianapolis not-for-profits learned yesterday that they will receive a total of $5 million in funding from the state’s Neighborhood Stabilization Program.
Southeast Neighborhood Development Corp. will receive $1.3 million. John H. Boner Community Center, King Park Area Development Corp. and Riley-Newport Area Development Corp. each will get $1 million, and Near North Development Corp. will receive $667,910.
“This money will boost efforts currently under way and will help our community partners as they work to improve on the quality of life for all citizens,” Mayor Greg Ballard said in a written statement.
Overall, 21 community organizations in Indiana will share $50 million to buy abandoned or foreclosed homes, demolish or redevelop vacant properties and help low- and moderate-income home buyers purchase properties.
Funding for the grants comes from the federal Neighborhood Stabilization Program enacted last year. In 2008, Indianapolis received $29 million in NSP funding.
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