REBUILDING COMMUNITIES AFTER DISASTER STRIKES
Through the Disaster Relief Program (DRP), FHLBank Indianapolis members can assist homeowners in need affected by natural disasters within Indiana and Michigan by providing funds for qualified repairs. DRP grants are only available after a declared disaster.
In 2018, the FHLBank Indianapolis Board of Directors approved $250,000 in aid to homeowners affected by significant flooding in Indiana and Michigan.
HOw do members use DRP?
All Homeownership Initiatives are available to FHLBank Indianapolis members who have completed the appropriate training found on our training and resources page. After completing training, you must submit a completed Retention Agreement form found below. Upon completion, you will receive information about how to apply for disbursements.
Once a member is approved, they can do the following:
- FHLBank Indianapolis members can request up to $10,000 per household based on demonstrated need for homes damaged by a federally declared disaster or emergency.
- Members may choose to work with their customers directly and/or through one or more community housing organizations.
WHO QUALIFIES FOR DRP?
In order to use DRP funding, you must:
- Reside within one of the 35 counties in Indiana or 17 counties and 2 cities in Michigan with a declared disaster/emergency status. See counties affected here.
- Additional cities and counties in Indiana and Michigan further designated in connection with this disaster/emergency will also be considered.
- Have a total household income less than or equal to 80 percent of the area median income as published by the Department of Housing and Urban Development based on 2018 annual limits.
- Use the funds for qualified repairs, which are detailed in Attachment J of the Implementation Plan.