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$28.3m granted to help finance 47 affordable housing projects.

CHICAGO: More than $28.3 million was granted through its competitive Affordable Housing Program (AHP) to help finance 47 affordable housing projects located primarily in Illinois and Wisconsin. Specific descriptions of the 2018 AHP awards can be viewed, Federal Home Loan Bank of Chicago announced.

Suzi Thackston, FHLBank Chicago Community Investment Officer, said, "These AHP awards will assist in the acquisition, rehabilitation, and new construction of over 2,500 housing units. We are proud of the work our member institutions do with their partners to create affordable housing options for renters, homebuyers, and homeowners in the communities they serve."

Each year, the FHLBank Chicago contributes 10% of its earnings to affordable housing programs, including both the competitive AHP and the Downpayment Plus(r) (DPP(r)) programs. In 2018, DPP provided more than $19 million in forgivable grants through the FHLBank Chicago's participating member institutions to assist with down payment and closing costs for eligible households. Since 1989, the FHLBank Chicago has awarded more than $455 million in competitive AHP grants and more than $192 million in DPP funds to help provide housing for income-eligible homebuyers.

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Geographic Code:1U3IL
Date:Dec 5, 2018
Words:185
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