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Published byMarilyn Cummings Modified over 9 years ago
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FUNDING SOURCES It depends…
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Funding Sources Having a plan can help leverage financial resources from outside (and inside) the neighborhood. Don’t design a plan around funding opportunities, find funding around your plan.
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It depends… What are you trying to do? Where are you trying to do it? How does what you want to do align with funding priorities of potential funders? What story can you tell to make you plan resonate with the decision-makers?
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Small Funds Crowd funding models Penny for your thoughts, Your two cents… Event with free will offering Local businesses
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Community Foundations Each county has a community foundation in Indiana Most of the funds that community foundations have are restricted family funds Know the funds Know the priorities Build a relationship with the community foundation to learn about their funds and priorities before asking
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Corporate Foundations Know where they invest Know what they invest in Know the application deadlines and process May not have a local presence related to the Foundation, hard to build relationships
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State/Federal Funds Entitlement Communities Community Development Block Grant HOME Investment Partnership Emergency Solutions Grant HOPWA Small Communities Program (OCRA) Planning Facilities Indiana Housing and Community Development Authority Individual Development Accounts Neighborhood Assistance Program Low Income Housing Tax Credits
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State/Federal Funds Notice of Funding Availability (NOFA/SuperNOFA) Highway Funds/Transportation Funds Generally only available to local units of government, states, and Metropolitan Planning Organizations (MPOs)
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Local Funding Tools Tax Increment Finance (TIF) districts City/County initiated Has to be supported by a plan Activities need to benefit/support the area Only captures the increment Subject to property tax caps Economic Improvement Districts (EID) “voluntary” tax Wide array of activities and improvements Not subject to tax caps County Economic Development Income Tax (CEDIT/EDIT)
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