FHLB of Chicago Awards More than $19 Million in AHP Funds

The Federal Home Loan Bank of Chicago recently awarded more than $19 million through its competitive Affordable Housing Program (AHP) to help finance 58 affordable housing projects located primarily in Illinois and Wisconsin. “These rental and ownership projects will provide more than 2,700 affordable housing units to individuals and families who need a home that they can afford,” says Sam Nicita, Community Investment Officer at the Federal Home Loan Bank of Chicago. “The number of units being built, rehabilitated, or purchased with AHP subsidy in rural communities is up more than 50 percent over the last year, which speaks to the need for affordable rural housing and the quality of the projects submitted to us in our competitive round. We understand that rural housing markets provide fewer affordable housing options, so we are pleased that more of these needs will be addressed in the near future.”

Sacramento Bee

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