FHLBank Pittsburgh is awarding $ 28.eight million in grants for the Inexpensive Housing Program

PITTSBURGH – (BUSINESS WIRE) – The FHLBank Pittsburgh Board of Directors has approved $ 28.8 million in grants under FHLBank’s Affordable Housing Program (AHP). The grants will help finance 52 housing projects and create more than 1,200 homes for people and families with very low, low and middle incomes and for those with special needs.

The 27 rental and 25 home ownership projects approved for funding will serve a variety of beneficiaries, including the chronically homeless, those with physical and mental disabilities, those recovering from domestic violence and substance use disorders, and the elderly.

“Today we awarded more than $ 28.8 million in AHP grants that FHLBank Pittsburgh members will use to provide affordable housing to more than 1,200 families in their communities,” said Winthrop Watson, president and chief executive officer of the FHLBank.

Local organizations have partnered with 18 member institutions to support the 52 projects that receive AHP funding. A full list of AHP grants awarded today can be found at www.fhlb-pgh.com/ahp.

Via FHLBank Pittsburgh

FHLBank Pittsburgh provides reliable funding and liquidity to its member financial institutions, including commercial and savings banks, community development financial institutions, credit unions, and insurance companies in Delaware, Pennsylvania, and West Virginia. FHLBank’s products and resources support lending, housing construction and the economic development of the community. As one of 11 Federal Home Loan Banks established by Congress, FHLBank has been an integral and reliable part of the financial system since 1932. Further information can be found at www.fhlb-pgh.com.