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KI Receives Funding for Alkhemy Community Wealth Building

On March 31, Lilly Endowment awarded the

(KI) $1,618,592 as part of the Enhancing Opportunities Grant program. Funding will support development of Alkhemy Community Wealth Building, an initiative to foster and promote cultural, financial, intellectual and social capital in low-income Indianapolis neighborhoods. The initiative will be based at the Concord building 3802 N. Illinois St., which is owned by Midtown Indy. In partnership with KI, Midtown Indy will manage the renovation of the Concord building and institute a paid construction training program. Also, the initiative will include development of the People’s Community Land Trust, through which KI will acquire land and develop homes to help low-income families achieve homeownership. Midtown Indy will sell the Concord to KI to place in the Land Trust which is designed to maintain local control and foster equitable development.

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