Federal Home Loan Bank of Indianapolis awards $3M grant
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The Federal Home Loan Bank of Indianapolis is providing a grant of up to $3 million as part of a partnership with Michigan’s housing development agency to launch a new effort to help tribal nations.
The award to the Tribal Nations Housing Development Assistance Program marks the bank’s largest grant to a single organization, the bank said in a news release.
The program, in conjunction with the Michigan State Housing Development Authority, will assist tribal nations with building new housing while also upgrading existing homes. Toolkits are expected to explain affordable housing models, construction management, available financing programs and other housing development matters.
“For many years, we have worked alongside partners in Michigan to bring affordable housing to underserved and vulnerable communities throughout the state,” Cindy Konich, FHLBank Indianapolis president and CEO, said in the release. “We feel confident that the tribal toolkit, trainings and support given through this new program will help meet the unique needs of tribal nations throughout Michigan and bring meaningful change to these communities.”
The program is a continuation of Michigan’s government-to-government partnership with tribal nations, where the state has invested in high-speed internet access and additional economic opportunities.
FHLBank Indianapolis is one of 11 regional banks that make up the Federal Home Loan Bank System, a government-sponsored enterprise owned by member financial institutions to provide low-cost funding. FHLBank Indianapolis serves Indiana and Michigan.