Community Multiplier – Member Match Program
Community Multiplier is a flexible grant program designed to help member financial institutions support local community needs outside of the programs and products already offered by the Bank.
This program provides matching grants that member financial institutions may use to support non-profit organizations working on affordable housing initiatives related to the following priority areas:
- Diverse and/or emerging developers – real estate developers who have not previously been funded by FHLBank Indianapolis and are new to the industry (less than 2 years in industry), or who are women or people of color
- Housing supportive services – services that assist with increasing stability of housing such as case management, healthcare, mental health care, substance abuse counseling, job training, employment support or child welfare
- Housing counseling – programs that provide tools for current and prospective homeowners to make responsible and sustainable choices through educational assistance
- Affordable housing industry career development – programs that build skill sets for the varied career paths that support affordable housing
- Operational funding for targeted affordable housing organizations – operational funding for affordable housing organizations who have not previously received AHP funding from FHLBank Indianapolis, or who are working in a rural county, as defined by USDA. Organizations working in rural counties are not subject to prior funding restrictions.
- Community land trusts – community-driven organizations that buy and manage land to keep it affordable for residents
FHLBank Indianapolis will support the launch of this program with an initial investment of $5,000,000 in 2025. The program offers grants of $25,000 - $125,000 to members who contribute a minimum 10% match to the requested amount for a Priority Area initiative. To access grant funds, the member must partner with a 501c3 non-profit based in Indiana or Michigan who demonstrates mission alignment to a Priority Area listed above.
The Community Multiplier program will open March 27, 2025. Applications will be available here on March 27.