2022 Affordable Housing Program Awards AnnouncedNovember 17, 2022
The latest round of Affordable Housing Program (AHP) awards was approved by the Board of Directors at its November 17 meeting. A total of 36 members will receive nearly $12.1 million in AHP subsidy to help produce 1,537 units of affordable housing for very low- to moderate-income residents. Of 48 project awards, 29 support owner-occupied housing and 19 support rental housing.
FHLB Cincinnati allocates 10 percent of its net income annually to the AHP, which makes housing more affordable for households at or below 80 percent of the area median income. This 10 percent allocation was enhanced by a $3.0 million voluntary contribution to the AHP General Fund in September 2022. 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 $841 million toward more than 104,000 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 these programs.
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.