Federal Home Loan Bank of Indianapolis awards $15.12 million in Affordable Housing Program grants

last updated on Monday, November 20, 2023 in Affordable Housing

The Federal Home Loan Bank of Indianapolis has awarded $15.12 million in affordable housing grants to 32 affordable housing developments in Indiana, Michigan and Kentucky through the Bank’s 2023 Affordable Housing Program (AHP). These AHP grants of up to $600,000 will support the acquisition, construction or rehabilitation of properties for use as affordable homes.

Last year, the Bank awarded more than $7 million, making this year’s AHP grant distribution a 114% increase in funds supporting affordable housing. As a result of the AHP grants, more than 1,150 units of affordable housing will be created or rehabilitated in the neighborhoods and communities where the Bank’s member financial institutions do business. Click here to read the news release.