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The mission of the Federal Home Loan Banks (FHL Banks) system is “to provide reliable liquidity to member institutions to support housing finance and community investment.” The FHL Banks have provided nearly $6 billion for affordable housing efforts since 1990 and continue to be a leader in their competitive application and homeownership programs. Funding can be used for the acquisition, rehabilitation, and construction of owner-occupied and rental housing units. The competitive application process allows local governments, nonprofit organizations, for-profits, and other organizations can apply for funding through a financial institution that is a member of a Federal Home Loan Bank. For more information, visit http://www.fhlbanks.com.
The application varies on the Federal Home Loan banking system. While there is no eligible activity solely for lead abatement activities, rehabilitation is an eligible activity. Favorable applications typically include partnerships and require activities for low to moderate-income beneficiaries.
GHHI Salt Lake County was awarded a $750,000 Federal Home Loan Bank grant award in 2017 to provide for housing rehabilitation, hazard remediation and accessibility retrofits for older adults who are receiving services through the GHHI collaborative but whose homes need higher level structural repair and rehabilitation interventions.