On November 19, 2015, the Federal Home Loan Bank of Indianapolis (FHLBI) Board of Directors approved the 2016 FHLBI Affordable Housing Program (AHP) Implementation Plan. FHLBI is required by federal law to provide the greater of 10% of its annual net earnings, or its pro rata share of an aggregate $100 million by all the Federal Home Loan Banks (FHLBanks), to very low-, low- and moderate-income households. The earnings are allocated and administered via the AHP Implementation Plan, which is adopted annually by the FHLBI Board. FHLBI members and other organizations can view the 2016 AHP Implementation Plan.
Additional information and highlights of the key changes to the Competitive AHP and the Homeownership Intitiatives Programs (HOP, NIP, AMP) can be found on the December 18, 2015 Community Investment Bulletin
. Competitive applications are due April 27, 2016 at 5:00 pm EDT. Application forms will be available in late January on the FHLBI website.
For more information about the 2016 AHP Implementation Plan or the Competitive Grant process, please contact FHLBI’s Community Investment Department at 1-800-688-6697.
BUILDING PARTNERSHIPS. SERVING COMMUNITIES.
The Federal Home Loan Bank of Indianapolis (FHLBI) is one of 11 regional banks that make up the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions. FHLBanks are privately capitalized and funded, and receive no Congressional appropriations. The FHLBI is owned by its Indiana and Michigan financial institution members, which include commercial banks, credit unions, insurance companies, and savings banks. For more information about the FHLBI, visit www.fhlbi.com.