U.S. Sen. Tom Carper (D-DE) was recognized for his support of housing and community development during a ceremony today announcing $3.52 million in 2024 Affordable Housing Program (AHP) grant and the voluntary housing grant initiative awards. These awards from the Federal Home Loan Bank of Pittsburgh (FHLBank) are through member financial institutions.
U.S. Rep.-elect Sarah McBride also joined the announcement and highlighted the importance of investing in affordable housing and community development. FHLBank is a cooperative whose members can leverage on-demand liquidity and community products to support community partnerships that foster job growth, economic vitality and long-term stability in Delaware and communities across the country.
“Senator Carper throughout his career has helped Delaware in countless ways including through support of FHLBanks, their members and the many organizations here today,” said Rep.-elect McBride. “I am grateful for all that he has done and am excited for the opportunities ahead.”
Local organizations partnered with three member institutions to support the five projects in Delaware receiving AHP and voluntary housing grant initiative funding. A complete list of the AHP and voluntary housing grant initiative awards can be found at www.fhlb-pgh.com/ahp.
“Today is a celebration of what we can do when we work together,” said Sen. Carper. “I am grateful to so many that have joined to support our work in Delaware and across the country to improve the lives of our neighbors and friends.”
Joining Sen. Carper and U.S. Rep.-elect McBride were Son-Djerry Cameus, staff, caseworker/outreach representative for U.S. Senator-elect and current U.S. Representative Lisa Blunt Rochester (D-DE); Mayor Robin Christiansen, City of Dover; Delaware State Senator Russ Huxtable; Andrew Dinsmore, state director for Delaware and Maryland, USDA Rural Development; Cynthia Karnai, director, Delaware State Housing Authority; David G. Paulson, president and CEO, FHLBank; Winthrop Watson, executive senior advisor and former president and CEO, FHLBank; Sarah Long, president and CEO, Delaware Bankers Association; Sarah Lester, president and CEO, West Side Grows Together and FHLBank Pittsburgh Affordable Housing Advisory Council member; Paul Calistro, executive director, West End Neighborhood House; and representatives from a variety of public, private and community partners. Several directors from FHLBank’s Board attended, including Brendan McGill, chair and president and CEO, Harleysville Bank; Glenn Brooks, president, Leon N. Weiner & Associates, Inc.; Blanche L. Jackson, CEO, Stepping Stones Community FCU; and Joseph Major, chairman, CEO and president, The Victory Bank.
“During my time at FHLBank Pittsburgh, we continuously partnered with Senator Carper to support housing and community development,” said Watson. “His nearly five decades of service to Delaware has had a profound impact that cannot be overstated.”
“Senator Carper has been a strong supporter of FHLBanks and our ability to serve communities through reliable funding to our members and the Affordable Housing Program,” said Paulson. “We wish Senator Carper well as he retires and commit to continuing this essential support that helps communities thrive.”
AHP was created by Congress as part of the Financial Institutions Reform Recovery and Enforcement Act of 1989 and began operations in 1990. On an annual basis, each FHLBank must set aside at least 10% of its prior year’s net income to fund its AHP. AHP is funded entirely through FHLBank earnings and are available only through FHLBank members. The voluntary housing grant initiative is an additional voluntary pool of funding which is separate and distinct from FHLBank’s required, statutory AHP, and is provided to address the critical housing needs within FHLBank’s district.
