Great way to end 2017 – Three AHP awards!

The year 2017 ended with great news! The Federal Home Loan Bank (FHLB) of Des Moines awarded additional funding to three tribal developments through the Affordable Housing Program (AHP).

Congratulations to the Metlakatla Housing Authority, Blackfeet Housing and Utah Paiute Tribal Housing Authority for their recent AHP awards! The AHP is a competitive program through the Federal Home Loan Bank system that awards grants and subsidized loans to support affordable rental housing and homeownership opportunities. Housing authorities use the extra subsidy to lower or eliminate the need for tribal funding in the developments.

The Metlakatla Housing Authority (MHA) in Alaska received $750,000 and plans to build 21 new units in a future development.

In Montana, Blackfeet Housing also received $750,000 for its development. The 30-home development will build a mix of three-bedroom and four-bedroom homes. Travois Design is providing architectural design and construction monitoring services for the development. The development will also include a basketball court, playground and outdoor community gathering spaces for the residents to enjoy. Blackfeet Homes #6 is primarily financed with a 2017 LIHTC allocation of tax credits from Montana Board of Housing and an equity investment from Raymond James Tax Credit Funds.

The Utah Paiute Tribal Housing Authority (UPTHA) received an AHP award for its upcoming UPTHA LIHTC Homes #1 development. The 17-unit rehabilitation development is UPTHA’s first LIHTC development and is the Utah Housing Commission’s first LIHTC award to a tribal developer! Travois Design is the architect for the project and is incorporating a number of green building techniques. Read more about the development and LIHTC award here.

Read more about the developments awarded funds from the FHLB of Des Moines here. If you are interested in applying for AHP funds, please contact us, and we can discuss the opportunity for accessing this useful resource.

For more information about other AHP awards, see these other blogs: