Indianapolis Recorder, Indianapolis, Marion County, 19 May 2000 — Page 31

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FRIDAY, MAY 19, 2000

THE INDIANAPOLIS RECORDER

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500 Festival focuses

attention on housing

By Lt. Governor Joseph E. Kernan

What do auto racing and affordable housing have in common? Not much on the surface, but this year the 500 Festival has made a connection between the two by designating their theme as “Back Home Again in Indiana” and focusing on a variety of housing initiatives in the Indianapolis area. Each week in May has been given a housing-related theme, such as “VolunteerBased Assistance,” “Community Development Corporations and Community Programs” and “Homelessness and Transitional Housing.” Several events have also been scheduled during the month to focus on housing developments and organizations. These include the following: * May 8 - A groundbreaking for “The House that Readers Built,” 2533 Pennsylvania Street, a reading-friendly house being built by the Marion County Public Library. * May 12 - Fall Creek Place will host an event at 2415 Pennsylvania Street to recognize the homeownership efforts being developed in this neighborhood. A $4 million grant from the U.S. Department of Housing and Urban Development (HUD) will be used to create 322 new homeownership opportunities in Fall Creek Place.

* May 13 - A homebnying fair at the Indiana State Fairgrounds, presented by the City of Indifmapolis, the Fannie Mae Foundation, the Indianapolis Neighborhood Partnership and the 500 Festival. Event participants can learn about buying their first home, low interest rate home loans and programs that provide downpayment assistance. The Indiana Housing Finance Authority (IHFA) will have a booth to promote its First Home program. * May 16 - The South East Neighborhood Development will begin renovation of the 75th affordable home that it has purchased, renovated or built to be sold to a new homeowner at 1232 Wright Street. * May 17 - Groundbreaking by the Riley Area Development Corporation for Davlan apartments, 430 Massachusetts Avenue. Two historic former hotels will be renovated into 50 one- and twobedroom apartments with rents from affordable to market rate. The Davlan received Rental Housing Tax Credits from IHFA in August 1999. * May 30 - The Gennesaret Free Clinic, 2401 North Central Avenue, will hold an event at the home of its new Health Recovery program. This program will be the first of its type in the state to provide transitional recuperative care to homeless persons who have been discharged

from the hospital. So many interesting and commendable efforts are being made to create more affordable housing opportunities in the Indianapolis area and around the state. And as i non-housing related entity, the 500 Festival, in particular, should be recognized for their contributions to the success of our housing organizations and developments. For information about the Indiana Housing Finance Authority (IHFA) and its programs, check out our website at www.indianahousing.org or call 800-872-0371. For more information about the 500 Festival activities call 317-234-3400. Lt. Governor Joe Kernan is chairman of the Board of Directors of the Indiana Housing Finance Authority. IHFA provides resources and technical assistance in a fiscally responsible manner to stimulate affordable housing opportunities in Indiana. As an agent of Indiana’s economic development policy, IHFA works with its partners to build stable communities for the residents of Indiana. Since 1997, IHFA financed the purchase, development or rehabilitation of more than 20,000 affordable homes for Hoosiers to rent or own, representing a total planned investment of more than $1.2 billion. IHFA is financially self-sufficient and operates without state tax revenues.

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