The 2019 Affordable Housing Program (AHP) awards were approved by the FHLB Cincinnati's Board of Directors on November 21, 2019. A total of 34 members will receive more than $30.9 million in AHP subsidy to help produce 2,229 units of affordable housing for low- and very low-income residents, and 24 market-rate units. Of 53 project awards, 16 support owner-occupied housing and 37 support rental housing.
FHLB Cincinnati allocates 10 percent of its net income annually into the AHP, which makes housing more affordable for persons at or below 80 percent of area median income. Subsidy is awarded to members through an annual AHP competitive offering and through the Welcome Home Program down payment assistance grants.
Awards below are listed by the state where the project is located, and alphabetically by the name of the FHLB member financial institution taking part in the project.
Project: Scheper Ridge 2019
Location: Florence, Ky.
Member: CareSource Reinsurance, Dayton, Ohio, and The Huntington National Bank, Columbus, Ohio
Sponsor: Episcopal Retirement Services Affordable Living LLC
Award: $1,000,000
Units: 48
Project type: Rental
Project: Jackson Landing
Location: Franklin, Ky.
Member: The Cecilian Bank, Elizabethtown, Ky.
Sponsor: Housing Assistance and Development Services Inc. (HANDS)
Award: $400,000
Units: 40
Project type: Rental
Project: Independence Homes
Location: Lexington, Ky.
Member: Central Bank & Trust Co., Lexington, Ky.
Sponsor: Lexington Housing for the Handicapped Inc. and The Ezekiel Foundation Inc.
Award: $599,976
Units: 25
Project type: Rental
Project: Mayfield Neighborhood Development Phase I
Location: Mayfield, Ky.
Member: Citizens Deposit Bank of Arlington, Arlington, Ky.
Sponsor: Mayfield Neighborhood Development, LLC
Award: $74,997
Units: 3
Project type: Rental
Project: Cave Run HFH 2019
Location: Morgan County and Menifee County, Kentucky
Member: Commercial Bank, West Liberty, Ky.
Sponsor: Cave Run Habitat for Humanity
Award: $125,000
Units: 5
Project type: Ownership
Project: 2019 Fountain Avenue Homebuyer Program
Location: McCracken County, Ky.
Member: Community Financial Services Bank, Benton, Ky., and FNB Bank, Mayfield, Ky.
Sponsor: Midtown Alliance of Neighbors
Award: $75,000
Units: 3
Project type: Ownership
Project: 2019 Homeowner Rehabilitation Project
Location: Owsley County, Ky.
Member: Farmers State Bank, Booneville, Ky.
Sponsor: Partnership Housing Inc.
Award: $195,000
Units: 13
Project type: Ownership
Project: Audubon School Apartments
Location: Henderson, Ky.
Member: Fifth Third Bank, Cincinnati, Ohio
Sponsor: Olynger Corp. and Equal Development LLC
Award: $489,000
Units: 49
Project type: Rental
Project: Purchase Area Home Uplift
Location: Calloway, Graves, Hickman and Marshall counties, Kentucky
Member: The Murray Bank FSB, Murray, Ky.
Sponsor: Purchase Area Development District Inc.
Award: $200,000
Units: 35
Project type: Ownership
Project: 2019 8 House Build
Location: Clark County and Madison County, Kentucky
Member: Peoples Bank & Trust Company of Madison County, Berea, Ky.
Sponsor: Habitat for Humanity of Madison & Clark Counties, KY Inc.
Award: $192,000
Units: 8
Project type: Ownership
Project: Shelby Co. HFH 2019
Location: Shelby County, Ky.
Member: Republic Bank & Trust Co., Louisville, Ky.
Sponsor: Habitat for Humanity of Shelby County, KY
Award: $42,500
Units: 2
Project type: Ownership
Project: CHN Marsh Brook Place 2019
Location: Columbus, Ohio
Member: The Affordable Housing Trust of Columbus & Franklin County, Columbus, Ohio, and The Huntington National Bank, Columbus, Ohio
Sponsor: Community Housing Network Inc.
Award: $750,000
Units: 40
Project type: Rental
Project: CHN Creekside Place 2019
Location: Columbus, Ohio
Member: The Affordable Housing Trust of Columbus & Franklin County, Columbus, Ohio, and The Huntington National Bank, Columbus, Ohio
Sponsor: Community Housing Network Inc.
Award: $1,000,000
Units: 63
Project type: Rental
Project: Carol Stewart Village
Location: Columbus, Ohio
Member: CareSource Reinsurance, Dayton, Ohio, and The Huntington National Bank, Columbus, Ohio
Sponsor: Finance Fund
Award: $1,000,000
Units: 64
Project type: Rental
Project: Rachel Court
Location: New Carlisle, Ohio
Member: CareSource Reinsurance, Dayton, Ohio, and The Huntington National Bank, Columbus, Ohio
Sponsor: Episcopal Retirement Services Affordable Living LLC
Award: $1,000,000
Units: 48
Project type: Rental
Project: Prairie View Apartments
Location: Wilmington, Ohio
Member: Cincinnati Development Fund, Cincinnati, Ohio, and RiverHills Bank, Milford, Ohio
Sponsor: Episcopal Retirement Services Affordable Living LLC
Award: $999,000
Units: 74
Project type: Rental
Project: Mulberry Place
Location: Wilmington, Ohio
Member: Cincinnati Development Fund, Cincinnati, Ohio, and RiverHills Bank, Milford, Ohio
Sponsor: Episcopal Retirement Services Affordable Living LLC
Award: $249,990
Units: 10
Project type: Rental
Project: Restoration Housing/MVHO Scattered Sites
Location: Dayton, Ohio
Member: Civista Bank, Sandusky, Ohio, and The Huntington National Bank, Columbus, Ohio
Sponsor: Miami Valley Housing Opportunities Inc.
Award: $1,000,000
Units: 55
Project type: Rental
Project: General Franklin
Location: Dayton, Ohio
Member: Civista Bank, Sandusky, Ohio, and The Huntington National Bank, Columbus, Ohio
Sponsor: Miami Valley Housing Opportunities Inc.
Award: $807,500
Units: 38
Project type: Rental
Project: Bridge Pointe Commons
Location: Elyria, Ohio
Member: Fifth Third Bank, Cincinnati, Ohio
Sponsor: Emerald Development and Economic Eden Inc.
Award: $1,000,000
Units: 62
Project type: Rental
Project: Greater Cleveland Habitat for Humanity Homes II
Location: Cuyahoga County, Ohio
Member: First Federal Savings and Loan Association of Lakewood, Lakewood, Ohio
Sponsor: Greater Cleveland Habitat for Humanity
Award: $275,000
Units: 20
Project type: Ownership
Project: Spring Street Senior Lofts
Location: Lima, Ohio
Member: First Financial Bank, Hamilton, Ohio
Sponsor: New Lima Housing For The Future Inc. and MVAH Holding LLC
Award: $1,000,000
Units: 88
Project type: Rental
Project: Hisle Park Apartments
Location: Portsmouth, Ohio
Member: Heritage Bank, Burlington, Ky., and RiverHills Bank, Milford, Ohio
Sponsor: Shawnee Family Health Center
Award: $908,598
Units: 45
Project type: Rental
Project: Pearl House Zanesville
Location: Zanesville, Ohio
Member: Heritage Bank, Burlington, Ky., and RiverHills Bank, Milford, Ohio
Sponsor: Muskingum County Drug, Alcohol & Substance Abuse Council Inc.
Award: $850,000
Units: 34
Project type: Rental
Project: East Village
Location: Bethel, Ohio
Member: Heritage Bank, Burlington, Ky., and RiverHills Bank, Milford, Ohio
Sponsor: UP Holdings LLC
Award: $1,000,000
Units: 56
Project type: Rental
Project: The Summit Apartments
Location: Cincinnati, Ohio
Member: Heritage Bank, Burlington, Ky., and RiverHills Bank, Milford, Ohio
Sponsor: Talbert Services Inc.
Award: $1,000,000
Units: 58
Project type: Rental
Project: Carpenter Hall
Location: Athens, Ohio
Member: Hocking Valley Bank, Athens, Ohio, and RiverHills Bank, Milford, Ohio
Sponsor: Finance Fund and Integrated Services for Behavioral Health Inc.
Award: $1,000,000
Units: 53
Project type: Rental
Project: East 79th Senior Housing
Location: Cleveland, Ohio
Member: Home Savings Bank, Youngstown, Ohio, and The Huntington National Bank, Columbus, Ohio
Sponsor: Burten, Bell, Carr Development Inc.
Award: $600,000
Units: 60
Project type: Rental
Project: Carmel Senior Village
Location: Ashtabula, Ohio
Member: The Huntington National Bank, Columbus, Ohio, and Ohio Capital Finance Corp., Columbus, Ohio
Sponsor: Testa Enterprises Inc. and Family & Community Services Inc.
Award: $822,453
Units: 48
Project type: Rental
Project: Hamilton Crossing Annex
Location: Whitehall, Ohio
Member: The Huntington National Bank, Columbus, Ohio
Sponsor: Central Ohio Housing Development Organization Inc.
Award: $440,000
Units: 32
Project type: Rental
Project: West Village Senior
Location: Mogadore, Ohio
Member: The Huntington National Bank, Columbus, Ohio, and Ohio Capital Finance Corp., Columbus, Ohio
Sponsor: Testa Enterprises Inc. and Family & Community Services Inc.
Award: $852,500
Units: 62
Project type: Rental
Project: Slavic Village Rediscovered
Location: Cuyahoga County, Ohio
Member: The Huntington National Bank, Columbus, Ohio
Sponsor: Slavic Village Recovery, LLC
Award: $106,250
Units: 5
Project type: Ownership
Project: Solon Community Living
Location: Solon, Ohio
Member: The Huntington National Bank, Columbus, Ohio
Sponsor: Solon Community Living Inc.
Award: $210,500
Units: 10
Project type: Rental
Project: Legacy Place
Location: Urbana, Ohio
Member: JPMorgan Chase Bank, Columbus, Ohio
Sponsor: Flaherty & Collins Development LLC and Residential Supports and Services Inc.
Award: $700,000
Units: 51
Project type: Rental
Project: Adams County Apartments
Location: West Union, Ohio
Member: Ohio Capital Finance Corp., Columbus, Ohio and KeyBank, Cleveland, Ohio
Sponsor: Adams and Brown Counties Economic Opportunities Inc.
Award: $324,987
Units: 13
Project type: Rental
Project: Commons at South Cumminsville
Location: Cincinnati, Ohio
Member: KeyBank, Cleveland, Ohio
Sponsor: National Church Residences
Award: $1,000,000
Units: 80
Project type: Rental
Project: Park Avenue Apartments
Location: Franklin, Ohio
Member: LCNB National Bank, Lebanon, Ohio
Sponsor: New Housing Ohio Inc.
Award: $250,000
Units: 20
Project type: Rental
Project: ABCAP Housing Renovations II
Location: Winchester, Ohio
Member: Ohio Capital Finance Corp., Columbus, Ohio and KeyBank, Cleveland, Ohio
Sponsor: Adams and Brown Counties Economic Opportunities Inc.
Award: $750,000
Units: 43
Project type: Rental
Project: Bucyrus Manor
Location: Bucyrus, Ohio
Member: RiverHills Bank, Milford, Ohio
Sponsor: Buckeye Community Hope Foundation
Award: $369,624
Units: 32
Project type: Rental
Project: Maumee Valley Habitat for Humanity 2020 Homeownership Program
Location: Lucas County, Ohio
Member: Signature Bank, Toledo, Ohio
Sponsor: Maumee Valley Habitat for Humanity
Award: $212,500
Units: 10
Project type: Ownership
Project: CHS Home Repair - Lyndhurst and Cuyahoga County
Location: Cuyahoga County, Ohio
Member: Third Federal Savings and Loan Association of Cleveland, Cleveland, Ohio
Sponsor: Community Housing Solutions
Award: $485,000
Units: 50
Project type: Ownership
Project: CHS Home Repair-Maple Hts and Cuyahoga County
Location: Cuyahoga County, Ohio
Member: Third Federal Savings and Loan Association of Cleveland, Cleveland, Ohio
Sponsor: Community Housing Solutions
Award: $485,000
Units: 50
Project type: Ownership
Project: CHS Home Repair-S. Euclid and Cuyahoga County
Location: Cuyahoga County, Ohio
Member: Third Federal Savings and Loan Association of Cleveland, Cleveland, Ohio
Sponsor: Community Housing Solutions
Award: $485,000
Units: 50
Project type: Ownership
Project: Aging in Place 2020
Location: Shelby County, Tenn.
Member: Bank of Bartlett, Memphis, Tenn.
Sponsor: Habitat for Humanity of Greater Memphis
Award: $849,150
Units: 170
Project type: Ownership
Project: Holston Habitat Cost of Home
Location: Sullivan County and Washington County, Tennessee
Member: Bank of Tennessee, Johnson City, Tenn.
Sponsor: Holston Habitat for Humanity Inc.
Award: $212,500
Units: 10
Project type: Ownership
Project: East Watauga Court Apartments
Location: Johnson City, Tenn.
Member: Bank of Tennessee, Johnson City, Tenn.
Sponsor: Johnson City Housing Authority
Award: $400,000
Units: 16
Project type: Rental
Project: ASP New Build TN 2019
Location: Hancock, Sullivan and Washington counties, Tennessee
Member: Bank of Tennessee, Johnson City, Tenn.
Sponsor: Appalachia Service Project Inc.
Award: $375,000
Units: 15
Project type: Ownership
Project: Fairwin Ave/Pennock Ave SROs
Location: Nashville, Tenn.
Member: Pinnacle Bank, Nashville, Tenn.
Sponsor: Park Center
Award: $325,000
Units: 13
Project type: Rental
Project: Russell Park Apartments
Location: Rockwood, Tenn.
Member: Simply Bank, Spring City, Tenn.
Sponsor: Rockwood Housing Authority
Award: $556,769
Units: 36
Project type: Rental
Project: 2019 Loudon Co Critical Repair
Location: Loudon County and Roane County, Tennessee
Member: SouthEast Bank, Farragut, Tenn.
Sponsor: Loudon County Habitat for Humanity
Award: $140,000
Units: 20
Project type: Ownership
Project: Isles of Pahokee II
Location: Pahokee, Fla.
Member: JPMorgan Chase Bank, Columbus, Ohio
Sponsor: Pahokee Development Corp.
Award: $1,000,000
Units: 129
Project type: Rental
Project: Berkshire Stevens Point
Location: Stevens Point, Wisc.
Member: U.S. Bank, Cincinnati, Ohio
Sponsor: GenCap Stevens Point 88 LLC
Award: $880,000
Units: 88
Project type: Rental
Project: Cedar Glen II
Location: Wauwatosa, Wisc.
Member: U.S. Bank, Cincinnati, Ohio
Sponsor: Midwest Affordable Housing Corp.
Award: $850,000
Units: 101
Project type: Rental