Community Development

Our Affordable Housing and Economic Development Initiatives include:

• Construction Loans, Permanent Financing and Letters of Credit - build new and/or rehabilitate affordable housing properties
• Tax Credits - Low Income Housing Tax Credit (LIHTC) and Historic Tax Credit (HTC) equity investments are made in affordable housing and economic development projects
• Federal Home Loan Bank of Indianapolis (FHLBI) - we participate in the affordable housing programs offered by the FHLBI which offers Affordable Housing Program (AHP) grants for rental and home ownership projects, down payment assistance for first time home buyers (HOP), Neighborhood Improvement (NIP) grants for low-to-moderate income home owners to perform needed home improvements and Accessibility Modification Program (AMP) grants to allow those with disabilities to remain in their homes
• Community Benefits Investments - loan pools, Mezzanine Financing programs, Micro-loan initiative, deposits in Community Development Financial Institutions (CDFIs), investments in community land trusts, purchases of securities backed by mortgages to low-to-moderate income borrowers and in low-and moderate-income neighborhoods
• State and Local Governments - involved in partnerships that promote community and economic development through specialized loan programs and investments in municipal bonds
• Foundation - other initiatives are supplemented by grants and donations by our foundation