The Federal Home Loan Bank of Indianapolis recently awarded $11.2 million in Affordable Housing Program grants.
Twenty-four affordable housing developments in Indiana and Michigan received grants of up to $500,000 each from FHLB Indianapolis. The 2020 AHP awards will help create or rehabilitate more than 1,000 affordable housing units in those two states.
“We are excited to share this year’s affordable housing grant recipients. Like previous years, most of these developments include a direct financial involvement from our members,” said MaryBeth Wott, FHLB Indianapolis community investment officer. “Through their partnership, our members are using AHP grant dollars to close the development gap and help create more units of affordable housing in the communities they serve.”
Banks receiving 2020 AHP grants include:
- First Merchants Bank, Muncie, Ind.
- 1st Source Bank, South Bend, Ind.
- Flagstar Bank, Troy, Mich.
- Merchants Bank of Indiana, Carmel
- Mercantile Bank of Michigan, Grand Rapids
- Old National Bank, Evansville, Ind.
- Chelsea State Bank, Chelsea, Mich.
- Spencer County Bank, Santa Claus, Ind.
- The Napoleon State Bank, Napoleon, Ind.
- Centier Bank, Merrillville, Ind.
- Independent Bank, Ionia, Mich.
- Jackson County Bank, Seymour, Ind.