Memorial Community Developmnt Corp. Dedicates a Home Constructed as Part of Glenwood Redevelopment Project

The Memorial Community Development Corporation, in partnership with the City of Evansville, today
dedicated a new home constructed as a part of the Glenwood Redevelopment Project.

The newly constructed home, built in an effort to revitalize the Glenwood Neighborhood, was unveiled
today at 1702 S. Elliott St., Evansville, IN.

The home was allocated $179,000 in Neighborhood Stabilization Program and Home Investment
Partnership Program funds from the City of Evansville Department of Metropolitan Development,
receiving funding from the U.S. Department of Housing and Urban Development.

“It’s a continuing commitment of the MCDC to facilitate development for both business and housing in
the center city of Evansville.” Said Rev. Adrian M. Brooks Sr. “We all know the challenges, but we want
to be a part of the solution. The Bible says ‘Faith without works is dead,’ therefore we will work for the
solution.”

The new housing development complements the continued efforts of the Glenwood Community
Development Initiative, a collaboration among community partners to revitalize the Glenwood
Neighborhood.

The proceeds from the new home sales will replenish a revolving fund that will be used to construct
additional homes in the Glenwood Neighborhood.

Outside of the housing development project, Memorial Community Development Corporation and
Memorial Baptist Church offer an array of other services ranging from health care to childcare, personal
financial management training, counseling, nutrition, fitness, tutoring, a community garden market,
youth employment program and much more.

Fact Sheet
The initial phase of the project will include a new Neighborhood Stabilization and Home Investment
Partnership Program-funded home as well as two additional homes that have been allocated $453,691
in HOME Investment Partnership Program funds from the City of Evansville Department of Metropolitan
Development along with Community Development Block Grant, and Evansville Housing Trust Funds.

Project goal is to stabilize the neighborhood by replacing blighted structures with new energy-efficient
homes and to continue the revitalization effort in the Glenwood area.

Homebuyers are subject to income limits. The current new home will be available to buyers with an
annual gross household income of up to 50 percent of the area median income – that would be a limit of
up to $31,900 for a family of four. Subsequent homes will be available to buyers with an annual gross
household income of up to 80 percent of the area median income – that would be a limit of up to
$51,050 for a family a four.

Additional funds may be available to assist in purchasing the homes in the form of a forgivable second
mortgage. Live in a new energy-efficient home for just over the typical monthly rent for a three-
bedroom apartment.

In addition to meeting income requirements, buyers must participate in at least 8 hours of homebuyer
counseling and must use the home as their primary residence.

Project Partners

Developer: Memorial Community Development Corp. in partnership with the City of Evansville
Department of Metropolitan Development

Architect: Donovan and Donovan Associates, Inc. – current home

Builder: Badger Construction, Inc. – current home

Funding: U.S. Department of Housing and Urban Development Neighborhood Stabilization
Program and Home Investment Partnership Program (current home)

Additional Support:
o Glenwood Neighborhood Association
o Memorial Baptist Church
o Barbara Woodruff, Just Faux It

Realtor:
o James Sutton, F. C. Tucker Emge REALTORS

ABOUT THE NEW HOME
ï‚· Asking price: $94,000

ï‚· Three bedrooms, two baths

ï‚· 1203 square feet

ï‚· Single-story design, open floor plan, 9-foot ceilings

ï‚· Master bedroom with two closets

ï‚· Master bath with double vanity

ï‚· High efficiency gas furnace and central air conditioner with fresh air system

ï‚· Stainless steel Energy Star appliances

ï‚· Low-E, Energy Star Windows

ï‚· Energy Star-related lighting

ï‚· Energy efficient Icynene spray foam and cellulose insulation

ï‚· Water-conserving faucets and fixtures

ï‚· Tankless water heater

ï‚· Low maintenance exterior with fiber cement Hardie Plank siding and vinyl

porch railing

ï‚· Security system

ï‚· Front porch and patio

ï‚· Corner lot with large backyard

ï‚· Professionally landscaped

ï‚· One-car garage with automatic garage door opener