PR Newswire provided by Federal Home Loan Bank of New York

Mission First has accessed more than $15 million in grants in support of affordable housing from four Federal Home Loan Banks

PHILADELPHIA, Oct. 12, 2023 /PRNewswire/ — In 1999, Mission First Housing Group (“Mission First”) was awarded its first Affordable Housing Program (“AHP”) grant from a Federal Home Loan Bank (“FHLBank”) – receiving a $465,000 grant from FHLBank Atlanta to help build 78 affordable apartments in the Fox Chase neighborhood in Northeast Philadelphia. In the nearly 25 years since, Mission First has established additional partnerships with FHLBanks of New York, Pittsburgh and San Francisco, working with the cooperative wholesale banks’ member financial institutions to successfully apply for more than $15 million in AHP grants that have been put to work creating and preserving safe, sustainable and affordable homes in Pennsylvania, New Jersey and Maryland.

Today, ahead of Mission First’s “Welcome Home 2023” annual fundraiser event, leaders of these four FHLBanks joined with Mission First to tour the Parkside Preservation and New Market West developments to see the positive impact this partnership has had on residents and the Philadelphia community, and to congratulate the organization on passing the $15 million funding milestone.

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