On November 25, The Federal Home Loan Bank of Indianapolis (“FHLBank Indianapolis” or “the Bank”) announced that the $17.7 million allocated for its 2024 Affordable Housing Program (AHP) awardees based in Michigan set a single-year Bank record for affordable housing project funding in the state, eclipsing the previous record of $6.6 million in 2023.
“This record-breaking $17.7 million investment from the Federal Home Loan Bank of Indianapolis in Michigan’s Affordable Housing Program is truly transformative,” said Amy Hovey, MSHDA’s Chief Executive Officer and Executive Director. “These grants will help create or preserve more than 1,000 affordable housing units across our state, providing stability and opportunity to countless Michigan residents. At a time when the need for affordable housing is more critical than ever, this funding demonstrates the power of partnerships and the impact of innovative, community-focused solutions. MSHDA looks forward to working with FHLBank Indianapolis and our many housing partners to make these projects a reality.”
Click the link to read the full press release from FHLBank Indianapolis: Federal Home Loan Bank of Indianapolis awards a record $17.7 million in Affordable Housing Program grants across Michigan
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About MSHDA
The Michigan State Housing Development Authority (MSHDA), established in 1966, provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing, engage in community economic development activities, develop vibrant cities, towns and villages, and address homeless issues.
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