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$9.41 Million in Affordable Housing Program Grants Awarded to Support Communities in Ohio's 11th District

prnewswire.com
TFSL Third Federal Savings and Loan Association of Cleveland is mentioned as a member institution that received funding for the Community Housing Solutions Home Repair Program. The article focuses on the grant awards rather than the financial performance or outlook of the bank itself. HBAN The Huntington National Bank is mentioned as a member institution for two projects: Hough Senior Independent Living and Famicos Home Repair Program. The article's focus is on the housing grants, not the bank's specific performance or future prospects. KEY KeyBank, National Association is listed as a member institution for the Cleveland Heights Senior Housing project. The article's primary focus is on the distribution of affordable housing grants, not the bank's financial standing.

$9.41 Million in Affordable Housing Program Grants Awarded to Support Communities in Ohio's 11th District Rep. Shontel Brown to join FHLB Cincinnati for Presentation

CLEVELAND, March 10, 2026 /PRNewswire/ -- The Federal Home Loan Bank of Cincinnati (FHLB Cincinnati) will host an event today March 10 celebrating $9.41 million in Affordable Housing Program (AHP) grants awarded to support affordable housing initiatives throughout Ohio's 11th District. These investments will fund home repair programs, senior housing developments, and community revitalization projects that collectively support nearly 800 housing units in Greater Cleveland and Cuyahoga County.

The AHP is a congressionally established program and Rep. Shontel Brown will join FHLB Cincinnati for the presentation. The $9.41 million in grants awarded in the 11th District marks the largest amount the area has received in the program's history.

Development projects that received funding include:

Community Housing Solutions Home Repair Program

Award: $6,000,000 • Units: 565

Member: Third Federal Savings and Loan Association of Cleveland

Nonprofit: Community Housing Solutions

Hough Senior Independent Living

Award: $1,200,000 • Units: 55

Member: The Huntington National Bank and Ohio Capital Finance Corporation

Nonprofit: CHN Housing Partners

Lorain Avenue Redevelopment

Award: $1,008,000 • Units: 72

Member: RiverHills Bank

Nonprofit: Pennrose Holdings, LLC and Ohio City Incorporated

Cleveland Heights Senior Housing

Award: $1,000,000 • Units: 75

Member: KeyBank, National Association

Nonprofit: National Church Residences

Famicos Home Repair Program

Award: $202,000 • Units: 20

Member: The Huntington National Bank

Nonprofit: Famicos Foundation

FHLB Cincinnati allocates 10 percent of its net income annually to the AHP, which makes housing more affordable for households at or below 80 percent of the area median income. Subsidy is awarded to members through an annual AHP competitive offering and through the Welcome Home Program's down payment assistance grants. All funds are made available through FHLB Cincinnati member financial institutions. This year's AHP allocation was enhanced by an additional $4.3 million in voluntary funds and totaled nearly $51.9 million—marking FHLB Cincinnati's largest grant announcement in AHP history. Grants were awarded throughout FHLB's District of Kentucky, Ohio and Tennessee to support local affordable housing initiatives.

For more information on specific awards and details of AHP, visit the FHLB Cincinnati website at www.fhlbcin.com.

About the FHLB

The FHLB is a AA+ rated wholesale cooperative bank owned by 599 member financial institutions, including commercial banks, thrifts, credit unions, insurance companies and community development financial institutions in Kentucky, Ohio and Tennessee. The FHLB provides members access to products and services (primarily Advances, which are a readily available, low-cost source of funds, purchases of certain mortgage loans from members, and issuance of Letters of Credit to members) and a competitive return through quarterly dividends on their capital investment in the FHLB. The FHLB funds these products and services by raising private-sector capital from member-stockholders and, with the other Federal Home Loan Banks (FHLBanks) in the FHLBank System, issuing high-quality debt in the global capital markets. The FHLB also funds community investment programs that help its members create affordable housing and promote community economic development.

About Rep. Shontel Brown

Congresswoman Shontel Brown has proudly represented Northeast Ohio in the House of Representatives since 2021. Congresswoman Brown serves on the Agriculture and Oversight Committees, as well as the House's Select Committee focused on our competition with the Chinese Communist Party. On June 6, 2026, Congresswoman Brown will host her third annual OH-11 Housing Expo at Tri-C Corporate College East in Warrensville Heights.

SOURCE Federal Home Loan Bank of Cincinnati