Transcript Community Investment Opportunities Welcome    FHLBI Update Notice of Proposed Rulemaking AHP Allocation Community Investment Programs.

2015
Community Investment
Opportunities
Welcome



FHLBI Update
Notice of Proposed Rulemaking
AHP Allocation
Community Investment Programs
FHLBI: 25 Years of Community Investment

FIRREA signed into law August 1989
◦ Expanded FHLBI membership to include commercial
banks, credit unions
◦ Created community funding mechanism by which 10% of
FHLBI’s profits returned to members to fund projects that
strengthen communities

2015 marks 25th year these dollars are being
dispersed back to our Indiana and Michigan
members
Since 1989, FHLBI has awarded nearly
$250 million in grants and provided over
$2.5 billion in low-cost advances and
letters of credit to our members.
Community Investment Programs
Community Dividend
AHP Statutory Contribution
$ in millions
AHP
Setasides
$8,773,366
$7,628,690
$6,159,616
$5,179,702
$4,849,631
$4,838,727
$16,293,395
$14,167,568
$11,439,286
$9,619,446
Total
$9,006,458
$8,986,207
2008
2009
2010
2011
2012
2013
21,796,258
14,799,148
13,856,089
13,824,933
17,598,902
25,066,761
Community Investment Programs
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2014 AHP Allocation = $25.1 million
First come,
first served HI
grants –
$8.8 million
Competitive AHP
grants –
$16.3 million
Each year, FHLBI awards 65% of its Affordable Housing
Program allocation through the AHP competitive program,
and 35% through Homeownership Initiatives.
Community Investment Programs
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FHLBI Community Investment Programs
Affordable Housing Program (AHP) –
competitive grants awarded to
AMP
members to support the creation of
rental and homeownership
Homeownership Initiatives (HOP,
AHP
NIP, AMP and DRP) – first-come,
opportunities for low- and moderate-
first-served grant funding
income households.
programs for members that match
each step in the lifecycle of
NIP
homeownership, from managing
down payment and closing costs,
Community Investment Program
(CIP) – discounted advances and
CIP
HOP
with disabilities, to disaster
recovery.
targeted housing and economic
development.
to accessibility modification
assistance for seniors and people
letters of credit available to members
on an ongoing basis to support
to owner-occupied rehabilitation,
DRP
Community Investment Programs
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Key Dates for 2015

2015 AHP competitive round is open!
AHP & CIP Workshops
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February 18
South Bend, IN
February 19
Grand Rapids, MI
February 25
Evansville, IN
February 26
Indianapolis, IN
March 3
Troy, MI
May 6
Traverse City, MI
AHP applications due – March 18
Homeownership Initiatives 1st Release – March/April
AHP awards announcement – July 16
Approval of 2016 Implementation Plan – November
Community Investment Programs
Guiding Principles

Community Investment reflects the core mission of
FHLBI…helping families throughout Indiana and
Michigan afford housing by partnering with local
financial institutions

What does success look like?
◦
Disbursing AHP funds to high quality, well-defined, missionfocused requests and projects.
◦
Partnering with interested members and project sponsors to
make sure they fully understand the project and have available
our full spectrum of resources to develop the best possible
business case for FHLBI community investment funding.
Community Investment Programs
Today’s Agenda

9:00- 9:15
Welcome

9:15-10:00
Overview of AHP and CIP

10:00-10:45
Homeownership Initiatives
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10:45-11:00
Networking Break
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11:00-12:00
Member and Community
Sponsor Presentations
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12:00
Lunch & Networking Break
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1:00
Next Steps and Adjourn
Community Investment Programs
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Overview of AHP
FHLBI Community Investment Programs
Affordable Housing Program (AHP)
– competitive grants awarded to
AMP
members to support the creation of
rental and homeownership
Homeownership Initiatives (HOP,
AHP
NIP, AMP and DRP) – first-come,
opportunities for low- and
first-served grant funding
moderate-income households.
programs for members that match
each step in the lifecycle of
NIP
homeownership, from managing
down payment and closing costs,
Community Investment Program
CIP
(CIP) – discounted advances and
letters of credit available to members
development
to accessibility modification
assistance for seniors and people
HOP
on an ongoing basis to support
targeted housing and economic
to owner-occupied rehabilitation,
with disabilities, to disaster
recovery.
DRP
Community Investment Programs
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AHP Dollars are Our “Community Dividend”

FHLBI annually reinvests at least 10 percent of our net
earnings into affordable housing in partnership with our
members

Like every dividend, this contribution is predicated on
earnings

No other provider of liquidity pays this dividend

These grant dollars are private – not federal dollars!
FHLBI’s AHP grant programs comprise
the largest single source of private “capital” for affordable
housing throughout Michigan and Indiana
Community Investment Programs
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Implementation Plan – our roadmap for grant giving

Reviewed/revised annually to ensure the AHP is
appropriately administered

Establishes AHP scoring and set-aside program
criteria in response to district needs and within
regulations
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Establishes competitive application round
deadlines and set-aside holdback dates

Allocates required annual contributions
Community Investment Programs
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The Courtyard provides one- and two-bedroom apartments for young
adults ages 18-25 who are aging out of foster care, are homeless or who
have a need for extensive support services. The common spaces will
include community rooms, computer areas, counseling space, laundry
and a teaching kitchen.
Located south of downtown Fort Wayne, IN the project was built where
a vacant clinic once stood.
Affordable Housing Program (AHP) – the basics
AHP – competitive grants awarded to members to support the
creation of rental and homeownership opportunities for lowand moderate-income households.

Provides direct grants for the
acquisition, rehabilitation or
construction of affordable housing
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Only FHLBI members may apply
for AHP grant funding
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Project sponsors are housing
developers (either for- or nonprofit) that partner with FHLBI
member to complete the project
AHP – a great
opportunity to
support the
growth and
vibrancy of your
community.
Community Investment Programs
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Typical AHP Projects
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Senior or family rental projects
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(excludes assisted living, hospice or nursing homes)
Single family homes for purchase, lease, or rental
Emergency shelters
Transitional housing
Permanent supportive housing
Habitat for Humanity projects
Group homes and congregate living plans
New to FHLBI’s Community Investment team or AHP?
Not sure if your project is a fit?
We’re here to talk you through the process.
Community Investment Programs
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2015 AHP Key Threshold Requirements
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Demonstrated market need for housing type
Capacity of the sponsor
Need for subsidy
Readiness to proceed
Reasonable and realistic plans
Minimum requirements for income targeting
“Affordable” = housing costs ≤ 30% of income
Subsidy per unit ≤ $75,000 per unit
New to FHLBI’s Community Investment team or AHP?
The scoring criteria are complex.
We’re here to talk you through the process.
Community Investment Programs
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AHP Subsidies – What Can I Spend Them On?
“Brick & Mortar” Expenditures
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Homebuyer down payments/closing costs
Owner-occupied rehabilitation
Land and building acquisition
Construction and rehabilitation costs
Some “soft costs”, i.e., architectural, engineering, survey,
developer fees (Limited to 20% of AHP)
Ineligible Expenses
x
x
x
x
x
Operating costs of sponsor/owner
Processing fees to administer AHP project
Replacement reserves
Operating reserves
Investor services or asset management fees
Community Investment Programs
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Vista Maria – New Beginnings provides 16 beds of safe, transitional
housing, as well as treatment and supportive services, to adolescent
girls ages 11-18 who are victims of human trafficking and severe
abuse or neglect. A defined and well-designed program will be
enable survivors to reach their full potential by achieving mental
health wellness and successfully transitioning back into the
community. It is the first program of its kind in the state to target the
support needs of this vulnerable population.
2015 AHP – Scoring Criteria
aging-inplace
housing
donated
property
economic
diversity
AHP
subsidy per
unit
member
financial
involvement
promotes
empowerment
permanent
supportive
housing
stabilizes
community
nonprofit
project
sponsor
housing for
the
homeless
comprehensive
community
development
preservation
special
needs
housing
income
targeting
“green”
building
readiness to
proceed
Community Investment Programs
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2015 AHP Scoring – What is new?
Empowerment (6 pts)
• Housing in combination with program offering activities to assist
residents in moving toward better economic opportunities
• Clear, defined economic benefit to entire project’s resident
population
• “Other services” that assist residents toward better opportunities
• Memorandum of Understanding (MOU)
• Explanation must include:
• cost of services to clients
• frequency of delivery
“Empowerment” = housing + economic opportunity
Community Investment Programs
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2015 AHP Scoring – What is new?
Homeless (5 pts)
≥ 20% of units set aside
Six-month minimum stay
Housing First model
Domestic violence survivors
Aging out of foster care
Requires supportive service plan
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Special Needs (up to 8 pts)
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≥ 20% of units set aside for chronic mentally
ill, physically or development disabled
Permanent supportive housing
Requires supportive service plan
Community Investment Programs
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2015 AHP Scoring – What is new?
Aging in Place (up to 8 pts.)
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Eligible for 8 points
• Supports coordinated on-site
• “Person Centered” planning process
• Costs evidenced through detailed supportive
service proforma
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Eligible for 2 points
•
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No ongoing resident assessment
Services provided offsite
Services on a referral basis
Minimal supportive services costs
100% of units must be occupied by persons aged 62 or older.
Community Investment Programs
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Warren Village provides a new affordable housing option for seniors 62
and older and persons with disabilities. 111 one-bedroom units repurpose the 1970-era Section 8 property in downtown Terre Haute, IN
through the adaptive re-use of Warren School, resulting in a
community-based revitalization effort while ensuring rent subsidies for
the elderly remain in the community.
AHP Monitoring – There are Strings Attached
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Sponsor prepares reports and submits to member
semi-annually during development phase
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Member submits reports to FHLBI
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Initial monitoring at completion
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Long-term monitoring for rental projects
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Project is habitable
Rents and incomes are in compliance with
targeting commitments
Community Investment Programs
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Retention Requirement

Legal mechanism recorded to ensure property
is used for affordable housing during retention
period

15 years for rental, 5 years for homeownership
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Generally a deed restriction, second mortgage
‘soft’ second
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Specific language is required by Regulation to be
included in the retention mechanism
Community Investment Programs
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Old West End Apartments is a gut rehab of a historic home in
Muncie by PathStone Housing Corp. They converted a vacant,
foreclosed multi-unit property into 4 affordable 2-bedroom
apartments with common space. The project is supported by a
significant member donation, including a property donation.
AHP – Success Strategies
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Test your project against FHLBI
Scoring objectives
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Use the Quick Smart Score to test
your project’s competitiveness
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Are you demonstrating that the
project is ready to go?
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Monitoring and compliance status
with other FHLB’s
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Monitoring and compliance with prior
FHLBI AHP projects
But most importantly, go BEYOND the NUMBERS.
Tell the story of the project. Why does this matter to your community?
Why does this matter to you as a member?
Community Investment Programs
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Timing – flow of AHP funds

Funding is drawn as needed
to pay construction costs

Homeownership – 30 days
prior to closing
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Funds disbursed through
member, who certifies
funding used for intended
purposes
AHP is an award…not a guarantee of funding
Community Investment Programs
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Mosaic constructed a single-story duplex with 3 bedrooms on each
side and rehabilitated a 4-bedroom existing home to provide
permanent supportive housing with wrap-around support for
individuals with intellectual disabilities. In addition to addressing
structural issues, Mosaic re-designed the home to improve
accessibility and updated mechanical systems. The 2 homes include
common living space, kitchen and recreational areas.
Using AHP – What’s in it for me?
Member Institution
• Invest in the community
• Foundation/philanthropy
goals
• Community Reinvestment
Act (CRA)
•
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Sponsor/Owner/Developer
Invest in the community
Create long term,
sustainable community
housing assets
Fulfill a need or mission
Housing as a core mission
FHLBI
• Leverage AHP with
stakeholders with common
objectives
• Develop new or expanded
relationships with members
• Create jobs
AHP Projects provide the opportunity for community
leaders to come together to fulfill a common objective
Community Investment Programs
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Bringing an AHP project to Life – Member Role
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Underwrites the project
Maintains relationship with sponsor
Oversees construction and
disbursement of AHP funds
Provides compliance reports
and disbursement requests
to FHLBI
Potential responsibilities:
•
•
Additional reporting requirements
Security instrument
Community Investment Programs
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Bringing an AHP project to Life – Sponsor Role
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Assemble a well-documented,
realistic AHP application
Treat the AHP grant like a loan
Understand AHP compliance requirements
Understand repayment obligation
Keep member, FHLBI informed when things change
Prepare/assemble well-documented compliance reports and
disbursement requests
Community Investment Programs
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AHP Application – Support from FHLBI
Technical
Reviews
For AHP applications submitted by Feb. 27th
Mar. 4-6 – Okemos, MI
Mar. 10-13 – Indianapolis
Training
On
Demand
FHLBI’s Community Investment team offers oneon-one training and support upon request by
member institutions
Make the most of your investment of time and talent in the AHP program!
Use our team as a resource to ensure your application is complete,
accurate and explains the value of your AHP project!
Community Investment Programs
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Merici Village Apartments 21 units of affordable housing were developed as a result of the
rehabilitation of former military barracks at Fort Benjamin Harrison in Indianapolis. Twenty units will
be set aside for adults with physical and developmental disabilities. An additional unit will be
occupied by a client management services professional. Each unit is universally designed for the
targeted population. The apartments are accessible to numerous amenities and employment
opportunities.
Overview of CIP
FHLBI Community Investment Programs
Affordable Housing Program (AHP) –
competitive grants awarded to
AMP
members to support the creation of
rental and homeownership
Homeownership Initiatives (HOP,
AHP
NIP, AMP and DRP) – first-come,
opportunities for low- and moderate-
first-served grant funding
income households.
programs for members that match
each step in the lifecycle of
NIP
homeownership, from managing
down payment and closing costs,
Community Investment Program
CIP
to owner-occupied rehabilitation,
(CIP) – discounted advances and
to accessibility modification
letters of credit available to members
assistance for seniors and people
on an ongoing basis to support
targeted housing and economic
development
HOP
with disabilities, to disaster
recovery.
DRP
Community Investment Programs
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Community Investment Program (CIP)
CIP – discounted advances and letters of credit
available to members on an ongoing basis to support
targeted housing and economic development

CIP advances are FHLBI’s lowest
cost funding
◦ Available at FHLBI’s cost of funds, plus a
nominal administrative fee (non-competitive)

Flexible terms/structure
◦ Variable and fixed to 20 year
◦ Up to 30 year amortization

CIP makes your money work
even harder for you … …and
for your community!!!
Same collateral, prepayment terms,
and activity-based stock
requirements as traditional advances
Community Investment Programs
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In partnership with First Bank of Berne, local entrepreneur Quad
Properties has been developing market rate rental housing in Berne,
IN. A total of 60 two-bedroom units have been developed since
2007 using CIP advances and owner equity. The most recent phase
of 12 units was completed with a $760,000 ten-year loan. Units rent
for $500.
CIP Housing Project Qualification
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Ownership Residential
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Individual owner-occupied units owned or purchased
All household incomes ≤115% of Area Median Income (AMI)
Documentation Required: List of originated mortgages
Rental Residential
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Financing of rental units and cooperatives
At least 51% of resident incomes <=115% of AMI or
Rents affordable to at least 51% residents whose incomes
are <=115% AMI
Documentation Required: Rent roll, FHLBI Rent Schedule or
Income Roll
CIP can be used to support owner or rental
residential projects
Community Investment Programs
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This 4.3-acre commercial retail development contains two free-standing buildings
providing access to medical, dental, grocery, telecommunications and restaurant
products and services in an area serving lower-income residents. This project
created and/or saved approximately 50 full-time and 83 part-time jobs.
CIP Commercial/Economic Development – Qualification
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Small Business Concern
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Small Business Administration revenue/size standards
(North American Industry Classification System Codes
(NAICS))
Documentation Required: Proof of revenue
Job creation/retention at qualified wage levels
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At least 51% of job salaries <=115% AMI for rural
At least 51% of job salaries <=100% AMI for urban
Documentation Required: FHLBI Job Information Form
CIP can be used to support
the establishment of small businesses,
or projects that create jobs in communities.
Community Investment Programs
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CIP Commercial/Economic Development – Requirements

Services/benefits to urban or rural area
≤100% AMI for urban areas
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≤115% AMI for rural areas
Project location in targeted area (income exemption)
 Rural/urban Champion Community,
Empowerment Zone, or Enterprise
Community
 State of Indiana Enterprise Zone
 Area affected by a federal military
base closing or realignment
 State of Michigan Renaissance Zone
 Federal Brownfield Tax Credit
 Native American area
 Federally declared disaster area
Community Investment Programs
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Tapestry Square is a mixed-use, market rate project located in the Wealthy-Jefferson redevelopment
area of Grand Rapids, MI. Sponsored by the Inner City Christian Federation (ICCF) Tapestry Square was
funded in part by a $1.4 million Community Investment Program (CIP) advance secured by Founders
Bank & Trust in 2013.
CIP Mixed Use –Qualification
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Combination of housing project and economic
development
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Project only required to qualify as economic
development
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Small Business Concern
 Job creation/retention at qualified wage levels
 Services and benefits to income targeted location
or targeted area
Community Investment Programs
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CIP: Real Opportunities to Spur Local Economic Growth
Commercial initiatives:
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Infrastructure:
Shopping Centers
Office Buildings
Hotels
Retail Stores
Member Branches
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Roads
Sidewalks
Utilities
Social Services initiatives:
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Office space for nonprofits
Day-care Centers
Hospitals
Nursing Homes
Industrial/manufacturing initiatives:
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Factories
Bakeries
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Assembly plants
Warehouses
Public-facility initiatives
•
Buildings/vehicles for police
or fire departments
Community Investment Programs
FHLBI’s Homeownership
Initiatives
(HOP, NIP, AMP and DRP)
FHLBI Community Investment Programs
Affordable Housing Program (AHP) –
competitive grants awarded to
AMP
members to support the creation of
rental and homeownership
Homeownership Initiatives (HOP,
AHP
NIP, AMP and DRP) – first-come,
opportunities for low- and moderate-
first-served grant funding
income households.
programs for members that follow
each step in the lifecycle of
NIP
homeownership, from managing
down payment and closing costs,
Community Investment Program
CIP
to owner-occupied rehabilitation,
(CIP) – discounted advances and
to accessibility modification
letters of credit available to members
assistance for seniors and people
on an ongoing basis to support
targeted housing and economic
development
HOP
with disabilities, to disaster
recovery.
DRP
Community Investment Programs
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2015 Homeownership Initiatives
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HOP – Homeownership Opportunities Program
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NIP – Neighborhood Impact Program
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Owner-occupied rehabilitation for eligible homeowners ($300,000/member cap)
AMP – Accessibility Modifications Program

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Down payment and closing cost assistance for eligible first-time homebuyers
($500,000 per member cap)
Homeowner accessibility modifications and rehabilitation for eligible senior or
disabled households ($300,000 member cap)
DRP – Disaster Relief Program

FHLBI Board of Directors approved homeowner rehabilitation or down payment
assistance necessary to respond to state or federally declared disaster
 2014 DRP funds available through 3/31/15 for SE Michigan Flooding
FHLBI’s Homeownership Initiatives are designed to help
address local community housing needs throughout the entire
lifecycle of homeownership.
Community Investment Programs
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2015 Homeownership Initiatives – benefits
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Members
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Generate mortgage business
Retain customers
Generate new deposit
customers
Cross-sell business products
Assist with CRA compliance
Members partnering with a non-profit or government entity
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Build partnerships with local community groups
Partner with organizations providing housing counseling services
Partner with local units of government to revitalize neighborhoods
Partner with aging in place organizations and faith-based support
groups to assist seniors and persons with disabilities
Community Investment Programs
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Member electives and program best practices

Limit to existing customers or require
customer/banking relationship
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Limit to employees
(great for staff recruitment/retention!)
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Limit scope of NIP to basics:
windows/doors, siding/ insulation, etc.

Customize program to meet your
institution’s objectives

Require partner organizations to attend FHLBI training

Execute MOUs, agency contract or similar agreement with partnering
organizations that outlines duties, expectations and transactional restrictions
Customize our program to meet your
business needs or objectives!!!
Community Investment Programs
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Member Role and Responsibilities

Know/understand programs, requirements, regulation*

Exercise due-diligence in approval of households and
disbursement of funds
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Ensure partnering organizations understand programs

If partnering with non-member, confirm reasonable financing
costs of transaction:

The rate of interest, points, fees, and any other charges for all loans that are
made for the project in conjunction with the subsidy does not exceed a
reasonable market rate for loans of similar maturity, terms and risk. (See
§ 1291.6 (c) (7) Financing Costs)
*See Implementation Plan for requirements
Community Investment Programs
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Homeownership Initiatives: How do Members Participate?

Complete and submit

Master Agreement (on website)

Registration and Certification Form
(on website)

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Completed forms allow access to all programs
Complete webinar training**

(primary or secondary member contact)
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Household Qualification: NEW Income Calculation
Worksheet
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NIP / AMP Repairs: NEW Cost Reasonableness
Certification
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FHLBI emails Starter Kit to primary contact

Registered members may have contact information posted on
FHLBI website
Community Investment Programs
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Lidbeck Family home, Iron Mountain, MI – First National
Bank & Trust of Iron Mountain has helped 149 area
homeowners make improvements to their homes, such as
new windows and siding.
General Homeownership Initiatives – Requirements

Income limit ≤80% of AMI
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5-year retention recorded to property title,
prorated recapture over the 5 years

Households may receive funding under one
program only within 5 year period
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Funding on a first come, first served basis
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Member caps: $500K for HOP; $300K for NIP/AMP
Available balance updated on FHLBI Website
FHLBI’s Homeownership Initiatives are
a simple and effective way to engage
with your community and serve your customers.
Community Investment Programs
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HOP requirements and guidelines
FHLBI’s HOP (Homeownership Opportunities Program) grants
provide members with resources to offer down payment and closing
cost assistance for eligible first-time homebuyers only*
Up to $10,000
Up to $5,000
• Member originated
• Non-member originated
• 1st-time homebuyer
• No member REOs
• $1 in matching funds
required for each $3 of
HOP subsidy
• Adhere to specified loan
transaction terms*
• Adhere to specified loan
transaction terms*
• $500,000 per member cap
• $500,000 per member cap
*See Implementation Plan for requirements
Community Investment Programs
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HOP requirements and guidelines…
1st-time homebuyer
• Minimum $1,000 homebuyer cash contribution
• Appraisal required
• Homebuyer counseling required
o Face/face and HUD or State certified program or
o FHLBI-approved online counseling with face/face
follow-up meeting
• Must use HOP towards down payment and/or eligible
closing costs
• Rehab costs paid by 3rd party or paid POC
See Implementation Plan for requirements
Community Investment Programs
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NIP Requirements and Guidelines
FHLBI’s NIP grants support owner-occupied
rehabilitation for eligible homeowners
Up to $10,000
•
Member is first-lien holder for a current
mortgage or when mortgage paid in full
under member, OR
•
Up to $7,500
• No member first-lien
• No matching funds
Homeowner receives $1 matching
funds from eligible source such as
HOME or CDBG for each $3 in NIP
subsidy
•
Funds must be used for eligible repairs*, i.e. roofing, windows, exterior
doors, gutters, siding, HVAC
•
Work must be completed within 6 months of FHLBI disbursement
*See Implementation Plan for requirements
Community Investment Programs
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NIP – New Bid Requirements for 2015
Cost Reasonableness Certification
Minimum Bid Information
• Executed by member
representative
• 2 comparable bids for each
repair (doors and HVAC= 4 bids)
• Submitted with each grant request
• Bids variance not to exceed
30%, or reasonable explanation
• Will be monitored during postclosing compliance reviews
• Request supported by at least
one bid
• Pertinent bid information
required
See Implementation Plan for requirements
Community Investment Programs
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NIP Requirements and Guidelines…
Other Notable NIP
Requirements*
•
•
•
Other Notable
Recommendations*
•
Ensure clear title – limited scope
title search (tax lien free!)
•
Review credit history which may
affect ownership status
Household must be current on
mortgage
•
Confirm current homeowner’s
insurance
Not eligible for repairs of business
areas of a home-based business
•
Use licensed/bonded contractors
•
Ensure joint paid checks to
homeowners and contractors
•
Approve and oversee rehab work
•
Before/after photos of rehabilitation
Own and occupy property 18
months prior to enrollment date
with no changes to owners in title
during the 18-month time period
*See Implementation Plan for requirements
Community Investment Programs
60
Spencer Family, Belding, MI. Retired couple living on a fixed income of primarily social security retirement
and a pension received a roll-in shower, grab bars and a ramp.
Accessibility Modifications Program (AMP)

AMP grants support
homeowner accessibility
modifications and
rehabilitation for eligible
senior or disabled households

$15,000 maximum per
household – No Match required

Capped at $300,000/member

Must be a Indiana or Michigan
homeowner and member’s
customer

Members may customize
program parameters, i.e., focus
on seniors or veterans.
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62
AMP Requirements and Guidelines
AMP grants support homeowner accessibility modifications
and rehabilitation for eligible senior or disabled households
that bank with FHLBI members
Three income-eligible households:*

Type A – all members age 62 or older

Type B – all members age 62 or older
and legal guardian of a child 17 or
younger

Type C – a member(s) of any age with
a permanent disability and currently
receives permanent disability-related
benefits
*See Implementation Plan for eligibility details
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63
AMP: requirements and guidelines…
Eligible AMP Modifications include…




Ramps/zero step entries
Handrails
Levered door handles
Widening doorways




Grab bars
Roll-in showers
Easy-entry bathtubs
Chair-lifts
The AMP fine print:*
•
Request supported by two independent, third-party bid and member cost
reasonableness certification
•
ADA or Universal Design modifications, when possible
•
Own and occupy property 18 months prior to enrollment date with no changes
to owners in title during the 18 month time period
•
Work must be completed within 6 months of FHLBI disbursement
•
May not be used toward repairs of home-based businesses
*See Implementation Plan for detailed requirements
Community Investment Programs
64
Accessibility Modifications Program (AMP)
FHLBI provides AMP
marketing materials for
members in a Starter Kit:
◦ 8.5” x 11” flyers
◦ 6”x 4” information cards
MEMBER LOGO & CONTACTS
MEMBER LOGO & CONTACTS
65
The Henkel family received a $5000 HOP grant for down payment and closing cost
assistance to acquire a Habitat for Humanity home in Marine City, MI. This family was
the first assisted using HOP funding from an insurance company member through a
unique partnership with Auto-Owners Insurance Company and Habitat for Humanity of
Michigan.
A NIP grant assisted the Piper family to rehabilitate their home. Karen Casler of Case
Credit Union has been an advocate for use of this program with other credit unions.
Thank you for
attending the 2015 FHLBI
Community Investment
Program Workshops
FOR MORE INFORMATION CONTACT:
Community Investment Officer MaryBeth Wott:
317.465.0368 [email protected]
Community Investment Staff
Contact Directory is available at www.fhlbi.com