SUPPORTING COMMUNITY AND HOUSING INITIATIVES
Since its creation in 1990, the Community Investments department of FHLBank Indianapolis has played a pivotal role in providing safe and affordable housing to residents in Indiana and Michigan. By partnering with community developers, non-profit organizations, and public agencies, FHLBank Indianapolis members can use our grants to build affordable housing, improve their neighborhoods, and reinvest in their communities.
For more information about the grants that we offer, please read the program summaries below or visit their page.
AFFORDABLE HOUSING PROGRAM
Each year FHLBank Indianapolis 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, our bank has awarded more than $283 million to create or rehabilitate single- and multi-family affordable housing. AHP grants may be used for the acquisition, construction, or rehabilitation of properties for families with annual incomes that are 80 percent or less than the area median income (AMI).
In partnership with our members, FHLBank Indianapolis offers four grant programs designed to address the homeownership needs of families throughout the life cycle of homeownership:
Homeownership Opportunities Program (HOP) helps first-time homebuyers with down payment assistance.
Neighborhood Impact Program (NIP) assists income-eligible homeowners with home repairs.
Accessibility Modifications Program (AMP) aids seniors and households with disabled family members with home modifications that will allow them to remain in their current homes.
Disaster Relief Program (DRP) aids those affected by natural disasters in Indiana and Michigan and is activated at the discretion of the FHLBank Indianapolis Board of Directors.
COMMUNITY Engagement and Economic Development
FHLBank Indianapolis offers a variety of economic development programs to help communities succeed and thrive.
Through the Community Investment Program (CIP)
, FHLBank Indianapolis members have access to 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 or support local job creation.
small business grant program assists the growth and development of small businesses, their workforce, and the communities where they are located. FHLBank Indianapolis members can sponsor their customers to apply for grants of up to $20,000 for capital expenditures, workforce training, or a variety of other needs to get the boost that they need.
Community financial institutions play a key role in community development. The Community Mentors
program stimulates community development by connecting member financial institutions with community development partners. Each recipient will be the lead partner in a Community Mentors workshop hosted by FHLBank Indianapolis, which is intended to help make connections, stimulate thinking, and challenge conventional wisdom about community development. Along with the Community Mentors Workshop, each recipient will also be awarded a $10,000 Community Mentors Implementation Grant for a project, plan of study, or a specific initiative to strengthen their community.
COMMUNITY SUPPORT PROGRAM
The Community Support Program (CSP) regulation requires FHLBank members to submit a Community Support Statement (CSS) to FHFA once every two years, in odd-numbered years (i.e. 2019, 2021 etc.). The CSS serves to document a FHLBank member’s CRA performance and support of first-time homebuyers. In reviewing a member for community support compliance, FHFA will consider any public comments it has received concerning the FHLBank member. All public comments on individual FHLBank members’ community support performance must be submitted to FHFA by email sent to: HMGCommunitySupportProgram@FHFA.gov or by fax to: (202) 649-4308 by March 31, 2021.
A listing of members subject to the Community Support Program can be found here: 2021 Members.
Click here to read the Community Support Review Notice published in the Federal Register.