Pace, Brightpoint, TRI-CAP announce grants
The three Indiana Community Action Agencies have recently received grants from regional banks.
Federal Home Loan Bank of Indianapolis grant benefits Wagon Works Project
The Federal Home Loan Bank of Indianapolis (FHLBI) board of directors has issued $500,000 in Affordable Housing Program (AHP) supplemental funding to TRI-CAP for the Wagon Works housing development under construction in Huntingburg, Ind.
The Wagon Works development will provide 56 affordable apartment units, which are expected to be available for leasing in spring 2020. The project is being developed through a partnership with TRI-CAP and Paragus Corporation of Indianapolis. It is the third development with which TRI-CAP has been involved in the city of Huntingburg.
PNC Foundation grant supports Brightpoint Development Fund
Brightpoint will use a $20,000 grant from PNC Foundation to support business lending through the Brightpoint Development Fund (BDF).
Founded in 2010, the Brightpoint Development Fund provides affordable business loans, financial education and housing-development services. The BDF is a U.S. Small Business Administration (SBA) micro-lender and a U.S. Department of the Treasury Community Development Financial Institution (CDFI.)
A portion of the grant will also be used to continue offering free business workshops in the community.
Regions Bank grant helps Pace help its community
Pace Community Action Agency, Inc. has received a $10,000 donation from Regions Bank in support of programming for agency clients in Daviess, Knox, Gibson and Vigo counties.
“Regions is a community-minded bank, and through funding for multiple programming options, they show that they care!” says Pace CEO Dr. Bertha Proctor. “We are thrilled that Regions collaborated with us to make a better life for individuals and families throughout our communities. Their investment will help enhance vital programs that promote lasting change.”
Pace promotes self-reliance and community involvement by offering programs surrounding financial education for youth, career readiness, internships, weatherization, health insurance navigation, individual development accounts and more.
“Pace has served as a valued, go-to resource for our southwest Indiana neighbors for more than five decades,” said Nicole Woodson, Indiana Community Development Manager for Regions. “Regions is pleased to invest in their efforts to teach youth the basics of money management and advance the local workforce through career-readiness initiatives. Through the power of partnership, we can help support Pace’s mission to educate, empower and improve our communities.”
Above: Angela Lange (left), Pace’s Head Start Director, and Dr. Bertha Proctor, CEO, are all smiles at receiving a $10,000 donation from Regions Bank.