Halfway house gets $500,000 grant
The Federal Home Loan Bank of Indianapolis (FHLBI) has announced that the House of New Beginnings Inc. (HNB) has qualified to receive a $500,000 grant from its Affordable Housing Program. The project will help 30 males overcome substance abuse while living in a transitional living facility to be built this summer in Corydon.
‘We are excited to continue moving forward with the project,’ said Sheila Tempel, the president of HNB’s 15-person board of directors.
Contractors will be asked to submit bids for the job in April or May with construction slated to begin in June, Tempel said.
Half the cost of the building came from Harrison County government, and it was contingent upon getting the Home Loan Bank grant, Tempel said, which brings the amount to $1million for the project.
The FHLBI dedicates 10 percent of its annual net income to fund affordable housing through the Affordable Housing Program, Home Savings Program, Neighborhood Impact Program, and Homeownership Opportunities Program. The Indianapolis Bank is privately funded and receives no taxpayer assistance. Through 2003, the FHLBI awarded more than $100 million through its programs to help more than 17,000 households obtain safe, decent housing.
To obtain the grant, House of New Beginnings Inc. teamed with First Harrison Bank to submit an application to the FHLBI. The application was evaluated on a competitive basis according to established criteria before qualifying for the award.
Tempel, a probation officer for Harrison Superior Court, said the House of New Beginnings will allow 30 men to live in the facility that will be built on Floyd Street. The house will offer 24-hour supervision with on-site staff while the men receive support services to overcome their addictions. The residents will be required to work and pay rent each week to stay there.
The exact size of the building is still being planned in consultation with the architect, Angie Kleer of Michell Timperman Ritz of New Albany, Tempel said.
The fate of the Leonard Carter house on Floyd Street, once owned by an African-American Civil War soldier, is still up in the air. Maxine Brown, the restorer of the historic Leora Brown School on Summit Street, hopes to find funding to move the small home to a lot next to the Leora Brown School grounds. If she can find the funds, the HNB will give Brown the Carter house.
The FHLBI is one of 12 regional banks that make up the Federal Home Loan Bank System. It was created in 1932 to be a source of low-cost wholesale funds for local retail lenders. Currently, 423 financial institutions such as commercial banks, savings institutions and credit unions throughout Indiana and Michigan, are the stockholder/members of the FHLBI.
‘One of the unique features of our programs is their flexibility,’ said Martin L. Heger, president and CEO of the FHLBI. ‘Unlike government-designed programs that are well-intended but often miss the mark, the AHP responds to what local communities determine is needed to help low- and moderate-income households afford better housing.’
The FHL Bank System is the third largest financial organization in the United States, which makes it a powerful partner to community lenders. In 2002 the system celebrated its 70th anniversary of helping local lenders build communities.
The House of New Beginnings is continuing to ask for donations because there are still needs not covered by the grant and county funds. Tempel said furniture is needed, they hope to pave the parking lot, and there will be on-going expenses. Donations may be sent to P.O. Box 757, Corydon, IN 47112.
Members of the HNB board, besides Tempel, are vice president Leah Fink, secretary Lauren Wheatley, treasurer Debbie Longoria, Judge Roger Davis, county prosecutor Dennis Byrd; Fred Satterfied, Cindy Baurer, Larry Baurer, Robert Bolen, Tony McCutcheon, Karen McCutcheon, Kevin Purvis, Wayne Buchinsky and Phyllis Henderson.