Over the last 21 years, Travois has been fortunate to assist tribes on more than 180 housing developments, generating over $610 million in investor equity through the Low Income Housing Tax Credit (LIHTC) program for affordable housing in Indian Country. We have also assisted many tribes in securing grant funding through the Federal Home Loan Bank’s (FHLBanks) Affordable Housing Program (AHP) — 37 tribes in fact.
With this latest award, we have now reached: 37 tribes, 64 projects — 59 of which are LIHTC projects — and more than $25 million in AHP grants — $25,069,373 to be exact!
The $25 million milestone is important because it represents valuable leveraging that tribes have used to offset development costs and make a direct impact in their communities. Federal resources (i.e. NAHASDA) alone cannot begin to address the housing needs in Indian Country. Therefore, programs like the Low Income Housing Tax Credit (LIHTC) and the FHLBanks’ AHP are vital to advancing affordable housing opportunities for tribes.
I recently learned a little known fact about the AHP. While Travois has enjoyed many years of success in securing AHP grants in Indian Country, it turns out that David Bland kick-started the use of the FHLBanks’ program in 1990 (when I was the ripe old age of 9) with one of the nation’s first AHP awards. It was for a 4-unit LIHTC rehab project in Winchester, Virginia.
This award followed Congress’ decision to expand the mission of the Federal Home Loan Banks to include housing and economic development as part of the Financial Institution’s Reform, Recovery and Enforcement Act of 1989 (FIRREA). The FHLBanks made the first AHP awards in 1990.
We share this $25 million milestone with all of our AHP clients — congrats and more to come!
For more information about AHP grants, check out our blogs:
- Prairie Band receives $500,000 AHP grant
- TOKA Homes #1 gets an extra boost with AHP Award
- Affordable Housing Program (AHP) funds continue to be an excellent leveraging tool for tribal LIHTC projects
- Nearly $2 million in AHP grants awarded to four Travois clients
- Travois tops $20 million in AHP funds for clients with three more awards in the last month
- Closing out the year with client good news