INDIANAPOLIS – The Indiana Housing and Community Development Authority (IHCDA), Patronicity and officials from Wabash Marketplace, Inc. recently released the Wabash Riverfront Plaza project's "crowdgranting" website. This project is the first as part of IHCDA's CreatINg Places program announced earlier this year.
“CreatINg Places aims to help generate public involvement in the selection of creative improvements within their own communities, help provide the funding to see the project through completion, and instill community pride when citizens become invested in their surroundings,” said Jacob Sipe, Executive Director of IHCDA.
The Wabash Riverfront Plaza will develop two major components: a riverfront courtyard and terraced steps to provide access to the river and the development of access from Wabash River to the project area.
"To make this project a reality, we need the community's support," said Tyler Krast, Project Coordinator for Wabash Marketplace, Inc. "Even if you are unable to contribute financially, helping us spread the word about this using Patroncity's social media sharing tools will help us to reach our goal."
Donations can be made directly on the project page. When the goal of $50,000 is met, IHCDA will contribute $50,000 of matching funds for the project.
CreatINg Places employs a donation and reward-based method of crowdfunding called “crowdgranting”. In crowdgranting, citizens actively support projects and activities through web-based donations which, if the fundraising goal is reached within a set time, are matched by a sponsor.
The CreatINg Places program is available to projects located in Indiana communities or neighborhoods which contain a traditional downtown or traditional neighborhood commercial node. Non-profit entities (with 501c3 or 501c4 status) and Local Units of Government are eligible to apply.
Eligible projects must have a minimum total development cost of $10,000, where the recipient will receive $5,000 in IHCDA matching funds should they successfully raise $5,000 through Patronicity. IHCDA will provide matching grant funds up to $50,000 per project.
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