Cummins announces major grant to build Black homeowner equity
Cummins Inc. (NYSE: CMI) announced today a major grant of more than $1,000,000 to build Black homeowner equity in the Martindale-Brightwood neighborhood of Indianapolis. The grant was issued to Renew Indianapolis and will support an innovative program to build generational wealth while addressing gentrification in historically Black neighborhoods.
The Cummins grant will leverage funding for affordable housing from the City of Indianapolis Lift Indy program and will support affordable mortgages for new homeowners. Lift Indy is a comprehensive investment in the Martindale-Brightwood neighborhood, focused on helping residents maintain quality housing, avoid displacement, and access services and programming through the Martindale Brightwood Education Zone Housing Village Initiative. The Martindale-Brightwood Lift Indy Team also aims to develop the capacity within the neighborhood to effectively meet the needs of residents well into the future.
“Through this program, Cummins is addressing the historical gap in wealth building through home ownership experienced by Black people,” said Mary Titsworth Chandler, Cummins Vice President of Community Relations. “We hope programs like this will inspire other private and non-profit funders to contribute to innovative problem-solving, which in turn will attract matching federal, state, and local dollars over time,” she continued.
“Renew Indianapolis is proud to partner with Cummins to support the Martindale-Brightwood community vision for affordable housing,” said Steven Meyer, Renew Indianapolis CEO. “This generous investment from Cummins will help ensure that the neighborhood remains affordable and accessible to those who call it home.”
The Cummins-Renew program is a part of CARE: Cummins Advocating for Racial Equity and includes the goal of awarding not less than 75% of the construction-related contracts to Minority-, Women-, Disabled-, and Veteran-Owned Business Enterprises (XBEs). The program will fund mortgages to low-income homebuyers of 12 newly constructed houses to be built on previously vacant properties in the Martindale-Brightwood neighborhood. Renew and its Lift Indy partners will market the homeownership opportunities to current residents of the neighborhood and will provide homeownership counseling for first-time home buyers. Financial support will be available to qualified contractors with BuildSmart loans through Renew’s Build Fund.
Renew, in partnership with Martindale-Brightwood Community Development Corporation and Edna Martin Christian Center, is dedicated to strengthening families in Martindale-Brightwood.
“As an anchor institution in Martindale-Brightwood, Edna Martin Christian Center remains committed to housing strategies that authentically incorporate the will and desires of our neighborhood residents and stakeholders,” said Barato Britt, president and CEO of Edna Martin Christian Center. “The grant we celebrate today serves as further indication that Martindale-Brightwood is a neighborhood worthy of the significant investment. We look forward to working with Renew and Cummins to ensure that alignment is community-inclusive, meaningful, and transformative.”
Construction of the homes is scheduled to begin this month, with the first homes available for purchase this spring. Interested home buyers should contact Renew Indianapolis at (317) 924-8116 or info@renewindy.org for more information.
Cummins Inc., a global power solutions leader, comprises five business segments – Components, Engine, Distribution, Power Systems and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast technological expertise. Cummins is committed to its Destination Zero strategy, which is grounded in the company’s commitment to sustainability and helping its customers successfully navigate the energy transition with its broad portfolio of products. The products range from advanced diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, valvetrain technologies, controls systems, air handling systems, automated transmissions, axles, drivelines, brakes, suspension systems, electric power generation systems, batteries, electrified power systems, hydrogen production technologies and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 75,500 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $735 million on sales of $34.1 billion in 2023.
