Affordable Housing Projects Net $9M in Grants
INDIANAPOLIS - The Federal Home Loan Bank of Indianapolis has awarded more than $9 million in Affordable Housing Program grants for 25 projects in Indiana and Michigan. The bank says the projects will create 762 affordable housing units within its service area.
Each project connects an FHLBank Indianapolis member financial institution with a local nonprofit, economic development group or developer. The money will help fund the acquisition, construction or rehabilitation of properties that will be used for affordable housing.
"Our members work closely with the communities they know best to support local affordable housing," said MaryBeth Wott, community investment officer with FHLBank Indianapolis. "Whether it’s in South Bend or Richmond or Evansville in Indiana, or in Central Lake or Grand Rapids or Pontiac in Michigan, these financial institutions work with community leaders to identify and act on local affordable housing needs."
The bank says the majority of recipients are developing affordable housing for people with special needs, including those with physical or developmental disabilities, senior citizens, or the chronically homeless, among others.
You can view the full list of recipients and their projects below:]