Page 17 - New Allen Alliance Digital Book

East Allen Rural Revival Project Costs & Gap Funding

Other Sources % of
PROJECT NAME Total Project Cost Private Investment Local Leverage (foundations, etc.) Gap (Stellar Funding) Leverage Status
1. East Allen County Owner Occupied Rehabilitation (IHCDA)* $462,992.00 $- $- $212,992.00 $250,000.00 54% 80%
2. Healthy Eating Active Living Classes (ISDH) $45,741.00 $- $- $11,250.00 $34,491.00 25% Fully Funded
3. Grabill Downtown Streetscape Enhancement (OCRA) $850,500.00 $- $100,000.00 $- $750,500.00 12% Fully Funded
4. Leo-Cedarville Downtown Streetscape Enhancement (OCRA) $1,109,960.00 $- $359,960.00 $- $750,000.00 32% Fully Funded
5. Monroeville Forrest Street Sidewalks (OCRA) $418,079.00 $- $49,181.00 $- $368,898.00 12% Fully Funded
6. Monroe Street Corridor Improvements (INDOT) $1,175,174.62 $- $444,904.62 $- $730,270.00 38% Fully Funded
7. New Haven Meadowbrook Trail (OCRA) $1,549,323.00 $- $164,297.00 $- $1,385,026.00 11% Fully Funded
8. New Haven-Adams Twp. Community Center Park (OCRA) $1,481,500.00 $- $735,924.00 $- $745,576.00 58% Fully Funded
9. Kady Gene Cove Senior LIHTC Housing (IHCDA)** $8,820,234.00 $8,820,234.00 $- $- $- 100% Fully Funded
10. Woodburn Downtown Streetscape Enhancement (OCRA) $599,015.00 $- $99,015.00 $- $500,000.00 17% Fully Funded
11. Woodburn Sidewalks (INDOT) $591,070.00 $- $239,646.00 $- $351,424.00 41% Fully Funded
TOTAL STELLAR PROJECTS $17,103,588.62 $8,820,234.00 $2,192,927.62 $224,242.00 $5,866,185.00 34%

*NIP Funding ($90,000) for OOR to be applied.
**Budget reflects equity for approximately $800,000 in Low Income Housing Tax Credits

The East Allen Rural Revival Regional Development Plan provides a comprehensive FUNDING SOURCE AMOUNT
four-year strategy of targeted investment from 2019 – 2022. The table shown at the STELLAR PROJECTS
right provides an overview of project costs for each of the eleven Indiana Regional
Stellar Communities Projects outlined in the plan as well as the 29 complementary Indiana Regional Stellar Communities $5,866,185
projects. Private Investment $8,820,234*
Local Leverage $2,192,928
Detailed budgets for each of the 11 projects are provided in Section 7. Projects
will occur throughout the four-year time period as determined by readiness and Other Sources $224,242
funding requirements. Both Stellar and complementary projects are important to Sub-Total $17,103,588
each individual community. Each individual community has prioritized projects
within their own area of responsibility. In the spirit of collaboration and respect for
individuality, Stellar projects have not been prioritized amongst the communities. COMPLEMENTARY PROJECTS
The NewAllen Alliance can further discuss the best approach to this upon Private Investment $9,276,950
designation. Local Leverage $22,618,358
Other Sources $15,874,132
Sub-Total $47,769,440
TOTAL EAST ALLEN RURAL REVIVAL PORTFOLIO $64,873,028
*Including Stellar LIHTC Tax credit benefit

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