Contact person: Aretha Graves, IDA Program Manager 401 S.E. 6th Street, Suite 001, Evansville IN 47713 (812) 425-4241 Ext. 3967 Office hours: 9 AM - 5 PM, Monday through Friday Program participants in 2009: 384 Goal: To provide income-eligible individuals with a 3 to 1 match for earned income savings to purchase a home, start a business or attend secondary education/training. Services provided: Customers deposit earned income into a savings account established by program staff. Up to $400 of deposited income will be matched annually on a 3 to 1 basis by the program. Savings may occur up to a 4 year period. Savings can be utilized to purchase a home, begin a new business, or attendance by the customer or a dependent at an accredited institution of higher learning or training facility. Customers are required to attend CAPE's Financial Literacy training. What the program can/cannot do: Program cannot make payments directly to customers. Payments are made to the education facility or financial institution for down payment/closing costs. Program cannot provide funding to liquidate debt. Who is eligible: Households must be at or below the current 175% poverty income level. Customers must complete the CAPE Financial Literacy training. Customers in the Homeownership tract must complete a homeownership class and (if applicable) work to repair credit. Customers in the Small Business tract must complete Small Business course through the Neighborhood Economic Development Center and develop a business plan; must also develop a list of assets/liabilities. Information/documentation required for application: Proof of household income Other items related to the specific savings tract - contact IDA Program Manager regarding specific requirements. Additional information: A customer may deposit as much earned income into their IDA savings account. CAPE can only match the dollars up to $400 per year. If the customer completes all program requirements they can get up to $1200 in match money per year ($3 for every $1 saved). Funding source: Indianan Housing and Community Developement Authority