Just over $2.9M in Affordable Housing Program funding to benefit local projects

BOWLING GREEN, SCOTTSVILLE, Ky. – A total of $2,956,000 will benefit Bowling Green and Scottsville projects thanks to FHLB Cincinnatis 2025 Affordable Housing Program.

In total, the grant funds have been awarded to 30 member financial institutions to help create 2,990 units of affordable housing throughout Kentucky, Ohio and Tennessee, according to a release by FHLB.

According to associates with FHLB, the following projects will receive the given amounts:

• Project: Community 461 in Bowling Green.
  • Member: South Central Bank, Inc. in Glasgow.
  • Sponsor: Hope House Ministries Inc.
  • Award: $1,392,000
  • Units: 24
  • Project type: Rental
•  Project: LifeWorks Annex in Bowling Green
  • Member: The Cecilian Bank – Elizabethtown
  • Sponsor: HANDS and Wabuck Development Company, Inc.
  • Award: $464,000
  • Units: 8
  • Project type: Rental
• Project: Houston Heights in Scottsville
  • Member: Field & Main Bank – Henderson
  • Sponsor: Housing Assistance and Development Services, Inc. (HANDS)
  • Award: $1,100,000
  • Units: 60
  • Project type: Rental

FHLB Cincinnati states it gives 10% of its net income each year to the program, making housing more affordable for those at or below 80% of the area’s median income.

For more information on specific awards and details of the Affordable Housing Program, click here.