Independent Bank is pleased to announce that they were awarded three Affordable Housing Program (AHP) grants this year from the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis). The FHLBank Indianapolis selected 32 grant recipients from applicants across Indiana, Michigan, and Kentucky, awarding a total of $15.12 million to support the acquisition, construction, or rehabilitation of properties for use as affordable homes.
Each year, FHLBank Indianapolis offers AHP grants through a competitive application process. Local non-profits, economic development groups, or developers can partner with an FHLBank Indianapolis member financial institution to submit an application. As an FHLBank Indianapolis member, Independent Bank is partnering with local non-profit housing developers, Cinnaire Solutions Corporation and MHT Housing Inc. to complete the three selected projects. The selected projects include 4401 Rosa Parks, The Anchor at Mariners Inn, and Brush Park Apartments, all located in Detroit.
“Independent Bank is proud to partner with Cinnaire Solutions Corporation and MHT Housing Inc. on these much-needed affordable housing projects in Detroit,” said Brad Kessel, President and CEO of Independent Bank. “The positive impact that these projects will have on our local families and communities is significant and long-lasting, and we’re so grateful to be a part of it.”