FDIC-Insured—Backed by the full faith and credit of the U.S. Government
Independent Bank is pleased to announce that they were awarded four Affordable Housing Program (AHP) grants this year from the Federal Home Loan Bank of Indianapolis (FHLBI). The FHLBank Indianapolis selected 43 grant recipients from applicants across Indiana and Michigan, awarding a total of $34 million to support the acquisition, construction, or rehabilitation of properties for use as affordable homes. Independent Bank was awarded the most grants approved (4) and the most units of affordable housing (205) for projects located in the State of Michigan this year.
Each year, FHLBank Indianapolis offers AHP grants through a competitive application process. Local non-profits, economic development groups, or developers can partner with FHLBI member financial institutions to apply. As an FHLBank Indianapolis member, Independent Bank is partnering with affordable housing developers, CHN Housing Partners, Cinnaire Solutions Corporation, MHT Housing Inc., and Woda Cooper Companies, Inc. to complete the four selected projects. These projects include 4401 Rosa Parks, Archdale Senior Apartments, and Gesu Senior in Detroit, as well as Shea Ravines I located in Wyoming, Michigan.
“Independent Bank is proud to partner with Cinnaire Solutions Corporation, CHN Housing Partners, Woda Cooper Companies, Inc., and MHT Housing Inc. on these imperative affordable housing projects in our great state,” said Brad Kessel, President and CEO of Independent Bank. “Affordable housing options open the door for positive change in our communities, and we are so honored to be a part of it.”
