The Federal Home Loan Bank of Cincinnati (FHLBank Cincinnati) has awarded 39 grants to 37 projects totaling more than $9.5 million under the bank's Affordable Housing Program (AHP). The funding will allow 26 member financial institutions in the FHLBank Cincinnati's district of Kentucky, Ohio and Tennessee to help create 685 units of affordable housing.
This round of awards includes five grants of $500,000 or more, and 15 grants worth $2.7 million to Habitat for Humanity organizations. The grant funds were divided between 13 awards totaling $2.2 million in Kentucky, 12 awards totaling $4.5 million in Ohio and 12 awards totaling $2.8 million in Tennessee.
This is the first round of AHP grants in 2012. FHLBank Cincinnati will announce a second round of grants later this year.