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Affordable Housing Program
Project type
Building Project
Location
Indianapolis, Indiana
Description: The Federal Home Loan Bank (FHLBank) of Indianapolis provides the greater of 10% of its annual net earnings to very low-, low-, and moderate-income households through its Affordable Housing Program, granting up to $600,000 per project. This fund supports acquisition, construction or rehabilitation of properties for use as affordable homes. Since 1990, FHLBank Indianapolis has awarded more than $283 million to create or rehabilitate single- and multifamily housing in Indiana and Michigan. In the 2022 application cycle, 17 developments were awarded a total of $7.24 million in affordable housing grants, resulting in 830 units created or rehabilitated to improve their neighborhoods and reinvest in their communities.
What makes it different: The awards support a multitude of affordable housing solutions for veterans, people with disabilities, young adults transitioning out of foster care, and many others.
Resource:https://www.fhlbi.com/services/affordable-housing/affordable-housing-program/#:~:text=Affordable%20Housing%20Program%20%28AHP%29%20%7C%20FHLBank%20of%20Indianapolis,well%20as%20threshold%20requirements%20and%20overall%20subsidy%20need
Contact: Toll free number, 800.442.2568