2018 Affordable Housing Program awards announcedNovember 16, 2018
The latest round of Affordable Housing Program (AHP) awards was approved by the Board of Directors at its November 15 meeting. A total of 40 members will receive more than $29.3 million in AHP subsidy to help produce 2,309 units of affordable housing for low- and very low-income residents. Of 67 project awards, 35 support owner-occupied housing and 32 support rental housing.
FHLB Cincinnati allocates 10 percent of its net income annually into the AHP, which makes housing more affordable for households at or below 80 percent of area median income. Subsidy is awarded to members through an annual AHP competitive offering and through the Welcome Home Program down payment assistance grants.
Since the first awards in 1990, the FHLB has contributed more than $704 million toward more than 88,000 units of affordable housing through the AHP and Welcome Home Program. These programs have enabled thousands of families to access decent, affordable housing, and we are proud of our record of accomplishment under this program.
Questions concerning the AHP may be directed to Damon v. Allen, Senior Vice President and Community Investment Officer, toll free at 888-345-2246.
Congratulations to all our AHP award recipients.