History of GLCF in the State of Indiana

The Indiana Capital Fund for Housing was created to meet the critical needs of the Indiana development community through maintaining a local and consistent presence. Working with both for-profit and nonprofit developers from the early stages of their process forward allowed the Indiana Capital Fund to deliver all the benefits of a local presence to their partners.

Originating in 2001, the Indiana Capital Fund for Housing was built modeling the proven track record and business philosophy established by the Michigan Capital Fund for Housing. One of the primary strengths of the Michigan model is the ability to be a local resource for developers. A core team for the Indiana Capital Fund for Housing was assembled, each team member possessing strong ties within the Indiana development community. The Indiana Capital Fund started with financial and technical support from the Michigan Capital Fund.

In June 2003, Michigan and Indiana Capital Funds for Housing merged and restructured to further maximize the value for investors and build on the established Michigan-based infrastructure. During the spring and early summer of 2003, the boards of both organizations merged operations and changed the name to Great Lakes Capital Fund Nonprofit Housing Corporation.

There is now one governing board for Great Lakes Capital Fund, which includes representatives from the Indiana and Michigan boards. Other former board members for Indiana and Michigan are now advisory board members, providing guidance and support for our work in each state.