Besides having helped more than 15,000 individuals and families purchase their homes, the Capital Area Finance Authority also promotes economic development in the parish through its community grants program for non-profit organizations. The program provides grant funds and capital funds to be used for projects by non-profit organizations that advance the Authority’s vision, especially in the area of increasing home ownership. Grants are awarded to organizations and agencies within East Baton Rouge Parish for use in East Baton Rouge Parish.
Non-profit organizations wishing to receive guidelines for submitting proposals should fill out a grant application using the form provided.
Grants are awarded no more than once a year and are screened by a grants review committee consisting of members of the Authority’s Board of Trustees. When the Authority is in a position to offer grants, it advertises in The Advocate newspaper in Baton Rouge.
The Authority has approved grants and capital funding for the following projects from 2008 through 2013.
Baton Rouge Area Chamber: The CAFA Board of Trustees approved a grant of $1.5 million to the Baton Rouge Area Chamber to help fund the Chamber’s five-year economic development plan, known as The Campaign for a Greater Baton Rouge. The five-year Chamber initiative is designed to deliver a highly professional and proactive, nationally competitive, regional economic development program for the businesses and families of the Baton Rouge area. The campaign enables BRAC to identify strategic economic development initiatives and pursue them energetically while identifying obstacles and aggressively addressing them. The funds granted by the Authority are dedicated for use on projects exclusive to East Baton Rouge Parish. The $2.25 million grant is being paid in increments of $450,000 per year for five years. The first payment was made in 2006.
MidCity Redevelopment Alliance: This $40,000 grant to the MidCity Redevelopment Alliance is being used to support the group’s Home Ownership Center, which is the cornerstone of the Alliance’s effort to create a stable community by increasing home ownership.
East Baton Rouge Redevelopment Authority: CAFA has committed a total of $7.5 million to the Redevelopment Authority, with $1.0 million per year in 2009, 2010 and 2011 to assist in establishing its operational capacity, and $4.5 million in 2010, drawn over a five (5) year period to supplement and strengthen four (4) of the Redevelopment Authority’s existing programs: Land Banking, Gap Financing for Affordable Housing, Gap Financing for Commercial Development, and Small Business Façade Grants. Through this support, the RDA has awarded over $5.6 million in below market rate financing to projects to support the development and construction rehabilitation of 564 affordable residential units; provided over $250,000 in reimbursable façade grants to improve 69 storefronts in low income areas; worked with communities and developers to return over 200 adjudicated properties to productive use; and further accomplished its mission of addressing blight elimination in East Baton Rouge Parish.
Center for Planning Excellence: The Authority’s $65,000 will provide management support for the Center for Planning Excellence's ongoing programs. In the past CPEX has used a $37,500 grant to help improve residential facades in the Old South Baton Rouge area.