KeyBank Foundation grants INHP $500,000 for near east home repair program

KeyBank Foundation grants Indianapolis Neighborhood Housing Partnership $500,000 for near east Indy home repair program

Indianapolis (Nov. 14, 2017) – The KeyBank Foundation is giving $500,000 to help current near east side residents living in the St. Clair Place neighborhood make home improvements. This grant will be distributed over the next five years through the Indianapolis Neighborhood Housing Partnership® (INHP).

The KeyBank Foundation’s grant will be used to fund INHP’s Stabilization Repair Loan program in the neighborhood, which helps low- to moderate-income families prevent deferred maintenance issues by making repairs to roofs, windows, HVAC systems, exterior paint or siding. Families who qualify for the program can receive a maximum loan of $12,500 to make home repairs. The loan has a zero percent interest rate and deferred payments, making it affordable for a low- or moderate-income homeowner.

As one of several layered revitalization strategies in the St. Clair Place neighborhood, the Stabilization Repair Loan program aims to:

  • Improve the long-term homeownership potential of low-income families
  • Improve the condition of the housing stock
  • Improve the neighborhood’s visual appeal
  • Finance repairs to prevent homeowners from needing additional repairs in the future

“KeyBank shares a commitment to the communities we call home,” said Aaron Reitz, central Indiana market president for KeyBank and INHP board member. “Making sure we have an impact on every neighborhood is a part of our culture. We know this donation is going to help provide a great transformation for these homes and for the families who need them.”

“INHP is humbled and energized by KeyBank Foundation’s gift. It will allow for real, tangible improvements in the St. Clair Place neighborhood,” said Moira Carlstedt, president and CEO of INHP. “We have been helping current Marion County residents sustain their homes for nearly 30 years. The ability to offer this new, affordable loan program will continue our efforts to revitalize and re-energize neighborhoods needing support. KeyBank Foundation is a wonderful partner in this endeavor.”

This donation is part of KeyBank’s Community Benefits Plan, an effort to give back $16.5 billion over the next five years nationwide to KeyBank communities.

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About KeyCorp

KeyCorp’s roots trace back 190 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 $136.7 billion at September 30, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 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.