FHLBank Pittsburgh's Affordable Housing Program (AHP) provides grants for the acquisition, construction or rehabilitation of single- or multi-family housing for individuals at or below 80% of area median income.
Benefits of AHP for housing developers:
- Flexible source of funding for a variety of affordable housing project types
- Funding terms that work well with other funding sources (Low Income Housing Tax Credits, HUD Community Development Block Grant/HOME Funds, state/county funds)
- User-friendly online application that minimizes paperwork
- Transparent project scoring process that enables developers to assess the competitiveness of the application
How to Apply
The 2015 AHP funding round will open on June 8. Developers must partner with an FHLBank Pittsburgh member institution to submit an application for funding by August 11. FHLBank scores the applications and approves the awards, up to $500,000 per project. Project awards will be announced on December 17.
Interested applicants can visit www.fhlb-pgh.com for program information and scoring criteria, a list of FHLBank member institutions, and links to request technical assistance to discuss potential applications or be matched to a sponsoring member institution.