Federal Home Loan Bank of Indianapolis
10/16/2024 | Press release | Distributed by Public on 10/16/2024 11:14
FHLBank Indianapolis announces $800,000 in pre-development grants for Tribal Nations Housing Development Assistance Program
last updated on Wednesday, October 16, 2024 in Affordable Housing
FHLBank Indianapolis has announced that $800,000 in pre-development affordable housing grants is now available to the 12 federally recognized tribal nations located in Michigan through the Tribal Nations Housing Development Assistance Program (TNHDAP).
Announced in early 2024, the TNHDAP is a unique and innovative capacity-building housing development grant program in partnership with the Michigan State Housing Development Authority (MSHDA). The TNHDAP provides dedicated training and technical assistance coupled with grant funding opportunities to support tribal nations in creating innovative housing solutions tailored to the unique needs of each nation. The Bank's program grant of up to $3 million marks the largest investment to a single organization in FHLBank Indianapolis history.
FHLBank Indianapolis is making $800,000 available for project-specific pre-development grants with up to $75,000 available per project. Pre-development dollar grants may support either rental or homeownership projects, dependent upon individual tribal priorities.
"Pre-development grants are often the hardest type of funding to find, and one of the most impactful tools to help kickstart projects," said Anna Shires, VP, Community Investment Outreach Partner at the Bank. "We're excited to complement all of the technical assistance underway, and help tribes get one major step closer to providing safe and affordable housing for their communities."
Click here to read the Bank's full news release.