Funding Sources It depends…
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.
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?
Small Funds • Crowd funding models • Penny for your thoughts, Your two cents… • Event with free will offering • Local businesses
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
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
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
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)
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)