INDIANAPOLIS, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis or the Bank), in partnership with the Michigan State Housing Development Authority (MSHDA), today announced the launch of the Tribal Nations Housing Development Assistance Program (TNHDAP). The program is aimed at building on tribal nations’ existing capacity and providing resources and support to develop affordable housing programs and projects that respond to their unique housing needs.
FHLBank Indianapolis is supporting this new program with a grant of up to $3 million, which marks the Bank’s largest grant to a single organization. The grant will provide flexible funding to help remove barriers to program participation and will cover critical predevelopment expenses, respond to additional capacity building needs and opportunities, and help bridge project financing gaps.
“For many years, we have worked alongside partners in Michigan to bring affordable housing to underserved and vulnerable communities throughout the state,” said Cindy Konich, FHLBank Indianapolis president and CEO. “We feel confident that the tribal toolkit, trainings and support given through this new program will help meet the unique needs of tribal nations throughout Michigan and bring meaningful change to these communities.”
The TNHDAP will assist tribal nations with building new housing while also supporting needed upgrades to existing homes. This program is a continuation of Michigan’s government-to-government partnership with tribal nations, where the state already has invested in high-speed internet access and additional economic opportunities for these communities.
“At MSHDA, we are always looking to find new and innovative ways to bring attainable and affordable housing to Michiganders across the state,” said Amy Hovey, MSHDA CEO and executive director. “Because of this funding and support, Michigan’s sovereign tribal nations will be better equipped with the resources and knowledge they need to expand their affordable housing capacity within their communities.”
Jamie Stuck, president of United Tribes of Michigan, agreed: “We believe that the TNHDAP will make a real, lasting impact to tribes across Michigan. We know that everyone deserves a safe and affordable home, and our partnership with MSHDA and FHLBank Indianapolis helps tribal nations get closer to that reality.”
MSHDA has retained the National American Indian Housing Council to develop a toolkit and offer a series of tailored trainings and one-on-one project and organizational technical assistance.
More information on the TNHDAP is available at https://www.michigan.gov/tribal-housing.
Media contact information:
Scott Thien, Sr. Internal Communications Lead
Corporate Communications
Federal Home Loan Bank of Indianapolis
sthien@fhlbi.com
Katie Bach, Communications Director
Partnerships and Engagement Division
Michigan State Housing Development Authority (MSHDA)
BachK@michigan.gov
About FHLBank Indianapolis
FHLBank Indianapolis is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with particular attention paid to providing solutions that support housing and small business needs of members' customers. FHLBanks are privately capitalized and funded, and receive no Congressional appropriations. FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. For more information about FHLBank Indianapolis, visit www.fhlbi.com and follow the Bank on LinkedIn and X (formerly known as Twitter) at @FHLBankIndy.
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.
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bdf39a7f-f437-404b-93c2-99f49bfdfbbc
