When FHLBI opened its doors on Oct. 15, 1932, the mission was to restore housing finance and revitalize homeownership after thousands of families lost their homes during the Great Depression. In 1989, Congress added the Affordable Housing Program (AHP) as another tool for FHLBanks to use to help families afford housing. Today, AHP is one of the most successful private sources of funding in the United States and has extended the FHLBanks’ original intent by furthering the idea that people deserve quality, affordable homes.
FHLBI grants help members partner with community developers and public agencies to develop affordable housing in their communities. FHLBI members have access to low-cost funding through our Homeownership Initiatives programs, competitive AHP grants and Community Investment Program (CIP) which support all stages of housing and community economic development.
See the 2016 Annual Report page of our Affordable Housing Advisory Council, which advises the bank on low- and moderate-income housing programs and housing needs in Indiana and Michigan.
In partnership with our members, FHLBI offers three grant programs designed to address the homeownership needs of families throughout the life cycle of homeownership:
COMPETITIVE AFFORDABLE HOUSING PROGRAM
Each year FHLBI members partner with local not-for-profit housing providers, economic development partners and housing developers to compete for Affordable Housing Program (AHP) grants of up to $500,000 per project. These housing grants have changed lives and communities across Indiana and Michigan. Since 1990 the FHLBI has awarded over $253 million to create or rehabilitate single- and multi-family affordable housing. The Competitive AHP funds projects involving the acquisition, construction, or rehabilitation of properties for families with annual incomes that are 80% or less than the area median income (AMI). Learn more about the Competitive Affordable Housing Program
COMMUNITY INVESTMENT PROGRAM
Through its Community Investment Program (CIP), FHLBI provides members with at-cost loans and letters of credit to support affordable housing and community economic development activities that benefit low- and moderate-income families or neighborhoods. These funds can be used to develop affordable housing, for infrastructure improvements, or to support local job creation. Through CIP, our members are making an incredible impact on their communities every day. Learn more about CIP Advances
COMMUNITY SPIRIT AWARDS
Each year, FHLBI honors an individual from one Indiana and one Michigan member institution who shows an outstanding dedication to affordable housing and community economic development. For more information about the awards and nomination criteria, read Community Spirit Award
COMMUNITY SUPPORT REVIEW
The community support regulation (12 CFR Part 1291) requires each member of FHLBI to submit a community support statement approximately once every two years. Each FHLBI member will receive a copy of the notice and the forms needed to comply with the requirement. Concurrently, the Bank will notify the FHLBI Advisory Council and nonprofit housing developers, community groups, and other interested parties in the district of the name of each member selected for review.
The Community Support Statement Form, required by the Federal Housing Finance Agency, is available to view. Additional information relating to the form, community support requirement, and listing of current members selected for review are noted below.
Community Support Statement Instructions
2017 CSS Letter to Interested Parties
Current Members Selected for Review
Federal Register - Community Support Final Rule
Please visit the Communities & Housing section of the Resources page, Bulletins, Presentations and Publications, for more general information about initiatives and announcements.