FHLBank Topeka Awards More than $31 Million in Affordable Housing Program Grants to Communities Across the District

TOPEKA, Kan., Jan. 7, 2025 /PRNewswire/ -- FHLBank Topeka (FHLBank) is proud to announce $31.3 million in affordable housing grants for 2024. The grants through FHLBank Topeka's Affordable Housing Program (AHP), which are made in partnership with FHLBank's member financial institutions, will help fund 26 projects in Colorado, Kansas, Nebraska and Oklahoma. The successful applications will give 1,699 very low-, low- and moderate-income households a place to call home.

"Providing these grants through our members each year is a cornerstone of our mission," said Jeff Kuzbel, president and CEO. "The commitment of FHLBank members and the innovative spirit of community builders across our district are showcased by the diverse projects receiving funding. From a community supporting people coming out of homelessness in north Tulsa, Oklahoma, complete with gardens and orchards, to an affordable development targeted to early childhood educators in Monument, Colorado, this year's AHP projects will profoundly impact many lives."

Each year, FHLBank allocates 10% of its prior year's earnings to AHP. Nonprofit groups, for-profit developers, government agencies and public entities apply for the grants for rental and owner-occupied housing projects through an FHLBank member. Past recipients note that AHP funding is an important part of attracting additional funding to a project.

City Lights Foundation of Oklahoma, one of the 26 AHP recipients this year, expressed their appreciation for a $1.5 million AHP grant through Mabrey Bank, Bixby, Oklahoma. "We are deeply grateful to the Federal Home Loan Bank of Topeka for supporting the important work of bringing our neighbors home. Through City Lights Village, we're creating more than just housing— we're building a community surrounded by care, resources and hope," said Sarah Grounds, founder and executive director of City Lights Foundation of Oklahoma.

This year marks not only the 35^th anniversary of the AHP but also a significant funding milestone for FHLBank, surpassing $400 million since inception. In addition to the $31.3 million in funding provided through FHLBank's competitive AHP, FHLBank has distributed $18.5 million through its TurnKey program in 2024, providing down payment, closing cost and repair assistance to support 1,300 very low-, low-, and moderate-income homebuyers. FHLBank also announced its Native American Housing Initiatives Grants Program, which funded $5.3 million to support housing and community development in Native American communities. In 2023, FHLBank committed to increasing its annual contribution to affordable housing and community development by 50 percent by 2025.

See a complete list of successful applicants by state followed by a list of alternate projects on FHLBank's website at www.fhlbtopeka.com/ahp.

FHLBank Topeka is one of 11 Federal Home Loan Banks that provides liquidity and funding to build vibrant communities for its member banks, thrifts, credit unions, insurance companies and community development financial institutions. With $79.2 billion in assets and more than $4.1 billion in capital, FHLBank Topeka serves 665 member financial institutions in Colorado, Kansas, Nebraska and Oklahoma. 

Contact: 
Tamara Taylor, FVP, Director of Corporate Communications
[email protected]
785.478.8157

SOURCE Federal Home Loan Bank of Topeka