Federal Home Loan Bank
The Federal Home Loan Bank administers the Competitive Affordable Housing Program to secure funds for the purchase, construction or rehabilitation of affordable homeownership or rental housing units.
Applications open May 1st and up to $50,000 per unit in grant funding is available. The project must tie to low- to moderate-income tenants.
The developer must apply for the program. More information can be found on the Federal Home Loan Bank website.