FHLBank Pittsburgh Awards $22.8 Million in Affordable Housing Program Grants

PITTSBURGH--(BUSINESS WIRE)--The Board of Directors of FHLBank Pittsburgh has approved $22.8 million in awarded grants under FHLBank’s Affordable Housing Program (AHP). The grants will help finance 35 housing projects, creating more than 600 homes for very low-, low- and moderate-income individuals and families, as well as those with special needs.

The 24 rental and 11 homeownership projects approved for funding will serve a wide variety of recipients, including the chronically homeless, individuals with physical and mental disabilities, military veterans and seniors.

"Today, through our partnership with our members, we were able to award $22.8 million in AHP grants,” said Winthrop Watson, President and Chief Executive Officer of FHLBank Pittsburgh. “This funding will support communities throughout Delaware, Pennsylvania and West Virginia in creating affordable housing for more than 600 local families."

Local organizations partnered with 18 member institutions to support the 35 projects receiving AHP funding. A complete list of the AHP grants awarded today can be found at www.fhlb-pgh.com/ahp.

About FHLBank Pittsburgh

FHLBank Pittsburgh provides reliable funding and liquidity to its member financial institutions, which include commercial and savings banks, community development financial institutions, credit unions and insurance companies in Delaware, Pennsylvania and West Virginia. FHLBank products and resources help support community lending, housing and economic development. 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. Learn more by visiting www.fhlb-pgh.com.