The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) is starting a disaster relief program to help state residents impacted by tornadoes, thunderstorms and related severe weather events during the spring and flooding in north central Indiana at the of June.
Through the Disaster Relief Program, FHLBank Indianapolis members can assist homeowners affected by natural disasters in Indiana and Michigan by providing funds for qualified repairs. Disaster Relief Program grants are only available after a declared disaster, as in the cases of the spring storms and the end of June flooding.
To qualify for the Disaster Relief assistance, households must partner with a participating member institution to access program funds. FHLBank Indianapolis awards the funds to member financial institutions, which then determine which households qualify.
A total of $276,000 will be made available on a first-come, first-served basis to participating member financial institutions. The program will run through the end of the year, or until funds are exhausted.
Qualified homeowners may receive up to $10,000 per household to help fund covered repairs. Households must be at or below 100% of the local area median income as defined by HUD.
Disaster relief funds are available for households in the following Indiana counties:
- Bartholomew
- Brown
- Clark
- Clay
- Crawford
- Dearborn
- Decatur
- Delaware
- Elkhart
- Floyd
- Franklin
- Gibson
- Greene
- Hamilton
- Hancock
- Harrison
- Hendricks
- Jefferson
- Jennings
- Lagrange
- Lake
- LaPorte
- Lawrence
- Madison
- Marshall
- Martin
- Montgomery
- Morgan
- Orange
- Owen
- Perry
- Porter
- Posey
- Shelby
- Spencer
- Steuben
- Switzerland
- Vanderburgh
- Vigo
- Warren
- Warrick
- Washington
“Severe weather like what we saw in many parts of Indiana this spring and summer can devastate communities without notice,” MaryBeth Wott, SVP Community Investment and Strategic Planning Officer, said in a prepared statement. “The Bank is proud to offer flexible tools like Disaster Relief that can quickly help our members and our communities in the recovery process.”
FHLBank Indianapolis’ Disaster Relief Program has been made available to member institutions on several occasions since its inception in 2013.
