CoverArt_585x493

EMPOWERING MARION COUNTY’S RESILIENT
FAMILIES AND NEIGHBORHOODS

DEAR FRIENDS,

Renters, homebuyers and homeowners who seek guidance from INHP are motivated to look to the future. In spite of current challenges and past experiences, their determination pushes them forward to accomplish their goal of increased housing stability today and every day ahead.

2020 was an unparalleled year for INHP, and we drew inspiration and understanding from the individuals and households keeping their goals in focus. They emboldened us to continue looking toward the future with confidence, data and skill — standing side-by-side with the Indianapolis community — to create access to stable, equitable and affordable housing now and for generations to come.

Thank you for supporting our mission and believing in the future of Marion County’s resilient families and neighborhoods.

 

Moira Carlstedt
President and CEO

RESPONDING THROUGH A PANDEMIC:

WE’RE HERE TO HELP YOU STAY ON TRACK

We carried this message into the community throughout 2020, never wavering in purpose and program delivery. For more than 30 years, INHP has been a trusted homeownership resource, and we remained committed to helping current and future homeowners navigate and stay on track towards their homeownership goals. 

2CirclePhotos2021_1
ReliefEffort_Icons

A record number of clients returned for post-purchase advising, emergency budgeting, and resources posted to a special crisis webpage.

We created a liquidity loan program and COVID-19 impact grants for community partners that were operationally adjusting to continue serving people who needed and desired affordable, stable housing.

To understand the potential impact of COVID-19 on evictions and foreclosures in Marion County, we commissioned research and shared the data with our community partners to help inform an emergency response for renters and homeowners.

DSC07975_1920x1280

Using federal CARES Act funding, the City of Indianapolis, Greater Indy Habitat for Humanity and INHP developed the Indy Mortgage Relief Program to administer three months of mortgage payment relief to homeowners affected by the pandemic.

KEY STRATEGIES

HOMEBUYER EDUCATION & ADVISING

Comprehensive, practical, goal-driven direction that empowers people to remove real and perceived barriers to homeownership

HOME PURCHASE & HOME REPAIR LENDING

Affordable and innovative mortgages for people to access capital, build wealth, sustain their investment and promote neighborhood stabilization

SINGLE-FAMILY HOUSING DEVELOPMENT

Direct investment and expertise, partnering with neighborhoods, to build new homes in response to the shortage of affordable homes in Marion County

LAND BANKING

Property acquisitions near rapid transit lines which allow time for strategic development and preservation of affordable multifamily housing

COMMUNITY LENDING

Financing that supports site acquisition, construction, bridge or permanent debt that primarily yields affordable housing

GRANTMAKING

Philanthropic funds for nonprofits dedicated to affordable housing preservation or development and neighborhood-based placemaking

OUR MISSION: To increase affordable and sustainable housing opportunities for individuals and families, and serve as a catalyst for the development and revitalization of neighborhoods.

WHO WE SERVE: INHP serves people with low and moderate incomes.

KEY STRATEGY:

HOMEBUYER EDUCATION & ADVISING

INHP is committed to helping people with low and moderate incomes, who are disproportionately Black people and people of color, understand their homeownership potential and purchasing power.

SectionBreaks_Circles_EdLend

EDUCATION AND ONE-ON-ONE ADVISING

We enabled clients to become knowledgeable consumers while preparing them to sustain their housing investment.

EducationAdvising_rev
2CirclePhotos2021_2
ReliefEffort_Icons_2

LOSS MITIGATION

We provided INHP mortgage holders post-purchase advising when life events happened so they could remain in the homes they worked hard to purchase.

  • 185 families gained advice and financial strategies to help them navigate or avoid mortgage delinquency, especially as COVID-19 and other unplanned expenses affected their budgets.
  • We built a robust webpage and shared knowledge with homeowners, homebuyers and renters throughout the pandemic.
DSC02368_1920x1280

Shortly after settling in their new home, COVID-19 threatened Shawn and Erinn's ability to maintain their mortgage. When Shawn lost his job, they sought help with INHP's post-purchase advisor. That support was critical to keeping their home and renewing their confidence as homeowners.

Deanna listened to INHP’s advice to get her finances in order so she could pick the right home in her budget.

KEY STRATEGY:

HOME PURCHASE & HOME REPAIR LENDING

Equitable, innovative and responsible lending, through INHP and our private sector lending partners, provides people the power to choose where they want to live and how they want to finance their purchase or repairs.

SectionBreaks_Circles2021

CONSUMER LENDING
We provided qualified consumers access to affordable loan programs to purchase or repair a home. 

HomeLoanNumbers_AR20_NEW
2CirclePhotos2021_3

When Olga’s home options seemed limited and expensive, she found opportunity with INHP and the Near North Development Corporation.

DEMOGRAPHICS: INHP home purchase loans

Demographics_INHPLoans_AR20_NEW

*AMI = Area Median Income.

DEMOGRAPHICS: INHP home repair loans

Demographics_INHPRepairs_AR20_NEW

*AMI = Area Median Income.

DEMOGRAPHICS: private sector loans

Local banks partner with INHP to offer competitive loan options, so we can offer our clients more mortgage options.

Demographics_INHPPartnerLoans_AR20_NEW

*AMI = Area Median Income.

INNOVATIVE LOAN PROGRAMS LEAD TO MORE OPTIONS

THE MARKET EXPANDER
The median home sales price in Marion County reached $190,000 last year, which is out of reach for many of the families INHP serves. In 2020, INHP secured a grant from the City of Indianapolis to pilot a new loan program that helps to address this challenge so buyers with low and moderate incomes can responsibly expand their purchasing power and compete in today's housing market.

The Market Expander pairs a below-market 20-year fixed rate first mortgage with a 0% interest second mortgage in which payments are deferred until years 21-30. It enables borrowers to:

  1. Access more housing options
  2. Access an affordable and sustainable loan
  3. Take advantage of the interest savings
  4. Increase the pace of equity/wealth accumulation

The program is exclusive to Marion County buyers earning a household income no more than 80% of the area median income.

Screen Shot 2021-05-26 at 2.07.00 PM

EQUITABLE OPPORTUNITY
In July 2020, Moira participated in “A Conversation on Racial, Education, Economic and Health Inequality”, a panel presented by the Economic Club of Indiana.

RESEARCH-DRIVEN PROGRAMING
INHP commissioned research,
Housing & Demographic Trends, observes various homeownership rates based on race and ethnicity. 

KEY STRATEGY:

SINGLE- FAMILY HOUSING DEV.

As increasing home sale prices continue to create financial barriers for consumers, we’re developing homes that are priced affordably for qualified buyers in Marion County.

SectionBreaks_Circles2021_3
HousingSupply_AR2020_NEW

CONSTRUCTION PROGRESS
INHP continued to address the barrier of housing supply and changes in affordability with the construction of new, affordable single-family homes. Twelve of our homes completed construction, and 23 more were in process. 

FUTURE CONSTRUCTION
INHP was invited to develop affordable homes in these neighborhoods beyond 2020.

  Crown Hill  Old Southside
  Mapleton-Fall Creek  Riverside
  Norwood  St. Clair Place

Keirra worked with her real estate agent to buy this newly constructed affordable home in the Mapleton-Fall Creek neighborhood.

INHP_#1_renderings_floorplans_4
INHP_#2_renderings_floorplans_4

NEW CONSTRUCTION
In partnership with the Crown Hill, Riverside and Old Southside neighborhoods, we invested in the construction or rehabilitation of 28 new, affordable single-family homes. These houses create new opportunities for buyers while helping neighborhoods reach their plans and goals. Check out floorplans from the Old Southside and Riverside neighborhood homes.

KEY STRATEGY:

LAND BANKING

We’re making targeted investments along rapid transit lines to preserve the opportunity for affordable housing.

SectionBreaks_Circles2021_4

ADDING MORE SITES AND INCREASING ACCESS
In 2020, we added two locations to our land bank of properties along rapid transit and frequent commuter routes — a total of 10. See the map to view all the Equitable Transit Oriented Development (ETOD) locations we have acquired.

2CirclePhotos2021_4

Affordable housing along mass

transit lines can connect residents

to jobs, education, retail, cultural

amenities and health care.

ETODMAP_2020AR_NEW

ATTRACTING DEVELOPERS
Acquiring property is only one half of the work being done to carry out this strategy in the community. INHP also attracted for-profit and nonprofit developers that wanted to pursue the development of affordable multifamily housing. In 2020, eight of the 10 properties had purchase agreements in place with developers.

We hold each site until developers can prepare site plans, engage with the neighborhood, seek zoning changes as needed and prepare optimal financing.

2CirclePhotos2021_5

KEY STRATEGY:

COMMUNITY LENDING

INHP supports neighborhood development and reinvestment opportunities by providing responsive and tailored community lending options that primarily yield the creation or preservation of affordable housing.

SectionBreaks_Circles2021_7

COMMUNITY LOANS

In 2020, we continued to offer a full range of affordable community development loans.

comm-lending

INHP IS A CDFI

As a U.S. Treasury certified Community Development Financial Institution (CDFI), INHP helps qualified nonprofits finance affordable housing initiatives. We provide construction financing, land loans, working capital and patient capital to support affordable housing development.

UNION AT 16TH
An INHP construction loan was part of the financing for Union at 16th, a multifamily affordable housing development west of the White River and north of the Ransom Place neighborhood. Each of the 159 apartments will be priced affordably.

EVALUATING AND ANTICIPATING NEED

ALWAYS INNOVATING
INHP is constantly looking for ways to meet the evolving needs of our community and the changing financial landscape. This includes piloting new programs in collaboration with other like-minded organizations in support of our mission, leveraging our seasoned relationships and establishing new ones.

ALWAYS INFORMED
INHP stays at the forefront of affordable housing conversations by sourcing formal research and sharing it with others. Visit our Research Library to explore how housing connects to health care, education, economic mobility and more.

Screen Shot 2021-06-09 at 11.41.45 PM

INHP’S ANNUAL COMMUNITY BREAKFAST
In 2020, our first virtual Community Breakfast featured our clients and spotlighted our partnership culture. As we guided viewers through our data on the state of affordable housing in Marion County, we also asked for audience participation through a game of “Higher or Lower!”

KEY STRATEGY:

GRANT- MAKING

Grounded in our partnership culture, we’re trusted with philanthropic funds to strategically deploy into the community to positively impact the supply of affordable homes and the capacity of participants in the affordable housing system.

SectionBreaks_Circles_Grants

CONSTRUCTION AND REHAB GRANTS

  • Greater Indy Habitat for Humanity
  • Mapleton-Fall Creek Development Corporation
  • Near Eastside Collaborative Partnership
  • Near North Development Corporation
  • Partners in Housing
  • Renew Indianapolis Inc.
  • Southeast Neighborhood Development
  • Westside Community Development Corporation

$889,000 in operating support
to eight partners constructing, rehabbing and maintaining affordable housing units.

PLACEMAKING GRANTS

  • EmployIndy/YouthBuild
  • Harrison Center for the Arts
  • Indy Gateway
  • Kennedy King Memorial Initiative
  • Near North Development Corporation
  • NeighborLink Indianapolis
  • Rebuilding Together Indianapolis
  • Servants at Work (SAWs)
  • Shepherd Community Center
  • West Indianapolis Development Corporation

$112,000 to support
affordable housing and placemaking activities.

Partnership is in our name. But more importantly, partnership is a part of our culture.

COVID-19 IMPACT GRANTS

  • Coalition for Homelessness Intervention and Prevention
  • Coburn Place
  • Eastern Star Church
  • Englewood Community Development Corporation
  • Fair Housing Center of Central Indiana
  • Mapleton-Fall Creek Development Corporation
  • Martindale Brightwood Community Development Corporation
  • Neighborhood Christian Legal Clinic
  • Partners in Housing
  • Southeast Neighborhood Development

TECHNICAL ASSISTANCE GRANTS

  • Crooked Creek Community Development Corporation
  • Martindale Brightwood Community Development Corporation
  • Near North Development Corporation
  • Southeast Neighborhood Development
  • West Indianapolis Development Corporation

SUPPLY STRATEGY IMPACT
Between community lending, single-family housing development and grantmaking in 2020, 1,111 affordable housing units were impacted and an additional 283 committed.

FINANCES
& DONORS

REVENUE, GAINS & OTHER SUPPORT

Revenue_2021_NEW

EXPENSES & OTHER COSTS

Expenses_2021_NEW
MORE DETAILS

BOARD OF DIRECTORS

Bruce Baird
COO
Renew Indianapolis, Inc.

Jeff Bennett
Deputy Mayor of Community Development
City of Indianapolis    

Bill Bower
Market President
First Financial Bank    

Moira Carlstedt
President and CEO
INHP    

John Corbin (Vice Chairperson)
Region President
The Huntington National Bank    

Lacy DuBose
Vice President Agency Sales, North Central Market
State Farm    

Greg Fennig
Chief Marketing Communications and Community Relations Officer

United Way of Central Indiana

Juan Gonzalez
President,
Central Indiana
KeyBank

Jennifer Green
Executive Director
Partners in Housing

– Indianapolis

Dr. Dawn Haut
CEO
Eskenazi Health Centers

John Hirschman
President and CEO
Browning

Jeffrey L. Kittle
President and CEO
Browning

Mark Kugar
Commercial Banking / Indiana
Executive
BMO Harris Bank

Nicole S. Lorch
COO
First Internet Bank

Dr. Robert Manuel
President
University of Indianapolis

BOARD OF DIRECTORS (cont.)

Anthony “Tony” Mason
President and CEO
Indianapolis Urban League

Gina Miller (Chairperson)
CFO and COO
United Way of Central Indiana

Paul Okeson
Executive Vice President
Garmong Construction Services

Michael F. Petrie
Chairman and CEO
Merchants Bancorp

J. Albert Smith (Treasurer)
Chairman
JPMorgan Chase Indiana

Marshawn Wolley (Secretary)
President and CEO
Black Onyx Management, Inc.

ADVISORY BOARD

David Skeels
Founder, President
Vayurjant Capital Partners

Mary Lisher
Retired 

Mary Jo Kennelly
Retired

Lynne Tamanini
First Vice President & Manager
The National Bank of Indianapolis

Thomas C. Dawson
Executive Vice President and Chief Administrative Officer

Strada Education Network

Kenneth J. Herrmann
Senior Vice President / CRE Managing Director
Fifth Third Bank

Michael A. Fritton, CPA
Principal
Somerset CPAs and Advisors

 

WITH YOUR HELP, WE WERE ABLE TO SERVE NEARLY 1,500 FAMILIES DURING 2020.

SPECIAL THANKS TO OUR DONORS

$1,000,000 or more

Lilly Endowment Inc.

$100,000 to $999,999

City of Indianapolis

Community Development Financial Institutions Fund (CDFI)

Federal Home Loan Bank of Indianapolis,
in honor of Moira Carlstedt

KeyBank

KeyBank Foundation

$50,000 to $99,999

Housing Partnership Network

Huntington Bank

The Cummins Foundation

Wells Fargo

$25,000 to $49,999

BMO Harris Bank

Fifth Third Bank

Fifth Third Bank Foundation

First Merchants Bank

Marion County Public Health Department

State Farm

Union Savings Bank

The vision of INHP is that every person in Indianapolis has the opportunity to live in a safe, decent and affordable home in a vibrant neighborhood.

THANK YOU
FOR SHARING OUR VISION.

INHP offices closed in
observance of Thanksgiving

All INHP office locations will be closed starting at 2 p.m., Wednesday, Nov. 25, through Friday, Nov. 26. We will resume normal hours of operation at 8:30 a.m., Monday, Nov. 29, 2021.

 

All online services are still available, including:

  • Completing a registration form for INHP home purchase/repair programs
  • Enrolling in a virtual/in-person education class
  • Completing an online education course

INHP will respond to any inquiries or form submissions made via our website or email system in the order they were received after we reopen. 

 

 

Subscribe to our newsletter

Get our latest news sent directly to your inbox

Subscribe to our newsletter

Get our latest news sent directly to your inbox

Scroll To Top