Supporting community and housing initiatives
Since its creation in 1990, the Community Investments department of the Federal Home Loan Bank 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.
Each year, FHLBank Indianapolis member financial institutions (members) partner with local not-for-profit housing providers, economic development partners and housing developers (sponsors) to compete for AHP grants of up to $600,000.
These grants help fund the acquisition, construction or rehabilitation of properties for use as affordable rental or ownership. Since 1990, FHLBank Indianapolis has awarded more than $283 million to create or rehabilitate single- and multi-family housing in Indiana and Michigan.
Funds are awarded through an annual competitive application process. These awards support a multitude of affordable housing solutions for veterans, people with disabilities, or young adults transitioning out of the foster care system, and many others.
In partnership with our members, FHLBank Indianapolis offers three grant programs designed to address the homeownership needs of families throughout the life cycle of homeownership:
Building Our Communities
Our goal with the following programs is to empower local leaders to build stronger and more resilient communities through sustained growth and economic development.
Community Investment Program
The Community Investment Program (CIP) provides our 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 have been used in the past to develop affordable housing, support infrastructure improvement, and boost local job creation.
Elevate Small Business Grant
Elevate is a small business grant program that assists the growth and development of small businesses, their workforce, and the communities where they are located. Qualifying small businesses can use the grant money (up to $20,000) for capital expenditures, workforce training, or a variety of other needs to get the boost that they need.
The Community Mentors program is a community engagement and economic development program to build partnerships between FHLBank Indianapolis members and community leaders and strengthen communities in Indiana and Michigan. Recipients will be the lead partner in a full-day Community Mentors Workshop hosted by FHLBank Indianapolis and receive grants of $50,000 to be used for creating a community plan or study, hiring a consultant, a specific community project of a previous plan, or a specific initiative identified at the Community Mentors Workshop.