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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

FHLBank Pittsburgh Awards $28.8 Million in Affordable Housing Program Grants

December 18, 2020 GMT

PITTSBURGH--(BUSINESS WIRE)--Dec 18, 2020--

The Board of Directors of FHLBank Pittsburgh has approved $28.8 million in awarded grants under FHLBank’s Affordable Housing Program (AHP). The grants will help finance 52 housing projects, creating more than 1,200 homes for very low-, low- and moderate-income individuals and families, as well as those with special needs.

The 27 rental and 25 homeownership projects approved for funding will serve a wide variety of recipients, including the chronically homeless, individuals with physical and mental disabilities, individuals recovering from domestic violence and substance use disorder, and seniors.

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“Today we awarded more than $28.8 million in AHP grants, which will enable FHLBank Pittsburgh members to bring affordable housing to more than 1,200 families throughout their communities,” said Winthrop Watson, FHLBank’s President and Chief Executive Officer.

Local organizations partnered with 18 member institutions to support the 52 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.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20201218005500/en/

Eric M. Slomer, FHLBank Pittsburgh, 412-288-7694,eric.slomer@fhlb-pgh.com

KEYWORD: DELAWARE WEST VIRGINIA PENNSYLVANIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & PROPERTY BANKING

SOURCE: FHLBank Pittsburgh

Copyright Business Wire 2020.

PUB: 12/18/2020 11:06 AM/DISC: 12/18/2020 11:06 AM

http://www.businesswire.com/news/home/20201218005500/en