FHLB Board Approves Increase to Voluntary Housing Commitment

The FHLB is pleased to announce the Board of Directors has approved an additional voluntary contribution of $12.8 million to support its housing and community investment programs. Funds will increase amounts available in 2023 for the Carol M. Peterson Housing Fund (CMPHF), Welcome Home Program (WHP) and competitive Affordable Housing Program (AHP) offering.

• A minimum of $3.5 million will be added to the CMPHF resulting in a total allocation for 2023 of at least $5.0 million. The CMPHF offers grants to fund accessibility rehabilitation and emergency repairs for low-income homeowners with special needs or persons over 60.
• A minimum of $4.0 million will be added to the WHP’s July 2023 offering resulting in a total allocation of at least $7.0 million. The WHP offers $10,000 in down payment and closing costs assistance to low- to moderate-income homebuyers and $15,000 to honorably discharged veterans, surviving spouses of military personnel, and active duty military.
• Any remaining funds not used under the CMPHF and WHP will be allocated to the 2023 competitive AHP offering.

Consistent with this increased commitment to affordable housing, please note the following changes to the CMPHF:

• The maximum grant per household has been increased from $7,500 to $15,000.
• The maximum amount per project has also been increased from $75,000 to $150,000.

Details and program guides for all housing programs, including eligibility information, are available at www.fhlbcin.com.

Please contact the Housing and Community Investment Department at 888-345-2246 with any questions.