On Friday, November 1, the 16 Tech Community Corporation, in partnership with neighborhood leaders and supporting organizations, launched the 16 Tech Community Investment Fund that will invest annually in neighborhoods that surround the 16 Tech Innovation District.
The 16 Tech Community Investment Fund was envisioned from the start of 16 Tech Community Corporation as the nonprofit manager of the 16 Tech Innovation District.
“The 16 Tech Community Investment Fund is our primary initiative to deliver on our commitment to ensure access, opportunity and revitalization of neighborhoods in and around the innovation district,” said Bob Coy, 16 Tech Community Corporation president and CEO. “We are grateful for the residents, city officials and organizations that spent more than a year developing the grantmaking process and guidelines with us to ensure the 16 Tech Community Investment Fund aligns with neighborhood priorities.”
The 16 Tech Community Investment Fund has been seeded with $3 million in public funding through the City of Indianapolis and will be sustained long-term through a $0.20-per-square-foot fee paid by 16 Tech Innovation District tenants. The 16 Tech Community Corporation will also seek philanthropic funding from individuals and organizations interested in investing in communities in and around 16 Tech.
Grant applications are now being accepted for projects that support residents in the Near West, Near Northwest and surrounding neighborhoods. (See map below of neighborhoods served.)
Up to $1 million will be awarded in the first round of grants from the 16 Tech Community Investment Fund in 2020. In subsequent years, at least $350,000 in funding will be available annually for community investment. Grants will be awarded to nonprofits of all sizes.
“As a Near West resident and member of the 16 Tech Community Investment Fund advisory committee, it has been a great privilege to work alongside other residents, partners, and the 16 Tech team and see such commitment to a community-centered approach that will drive positive and innovative impacts,” said Adrianne Opp, neighborhood leader with the Near West Collaborative and Hawthorne Neighborhood Association.
“It is great to see the financial investment opportunities available to individuals and groups committed to strengthening the communities surrounding 16 Tech,” said Mariama Shaheed, founder and principal, Global Preparatory Academy @ Riverside #44, and a member of the 16 Tech Community Investment Fund advisory committee. “I’m sure that what is to come from these investment grants will be transformative.”
Grant applications are available on the 16 Tech website at www.16tech.com/community-investment. The 16 Tech website also includes detailed information about grant guidelines, priorities and the application process.