​FHLBank Boston Awards $37 Million for Affordable Housing

The funds were awarded to projects through financial institutions in the region that are members of FHLBank Boston. 

“Partnering with our members to support the creation and preservation of affordable housing is an integral part of our mission. As we heard from a large number of stakeholders in recent months, they greatly value the positive impact our Affordable Housing Program has had in their communities. We are pleased that this year we were able to support initiatives that will create stable and secure housing for individuals and families, including seniors, people with disabilities, and those at risk of homelessness, in a variety of communities throughout New England,” said FHLBank Boston President and Chief Executive Officer Timothy J. Barrett.

The grants and loans will be used to help pay construction, acquisition, or rehabilitation costs. Member financial institutions work with local developers to apply for funding, which is awarded through a competitive scoring process. 

For details on each housing initiative, please visit here.