Neighborhood Stabilization Funds Awards

Areas where Neighborhood Stabilization Funds will be Focused
$29 million will be leveraged to help revitalization efforts

Community leaders joined Mayor Greg Ballard today to announce areas of the city where $29 million in Neighborhood Stabilization Program (NSP) funds will be focused. The funds were approved by Congress late in 2008 to help neighborhoods recover from the effects of widespread foreclosures.

Stakeholders from the public, private and nonprofit sectors have been meeting in recent months with guidance from the Center for Urban Policy and the Environment to determine how the funds will be focused in Indianapolis to achieve the most significant, positive impact. The result of a data-intensive process driven by representatives from the city’s public and private sectors has narrowed the investment to four target areas.

The general boundaries of the areas targeted to receive funds are:

1. Near South/Southeast (North Washington St. South Raymond St., East Keystone Ave., West Meridian St.)
2. Near East (North I-70, South Washington St., East Emerson Ave. West I-65
3. North (North 42nd St., South 21st St., East Andrew J. Brown, West Capitol Ave.)
4. Near West (North 30th St., South I-70, East Harding St., West Holt Road)