Neighbors of Hope Receives $199,000 Grant from Federal Home Loan Bank
Adrian, MI – January 15, 2021: Neighbors of Hope is pleased to announce it has received a $199,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank (FHLB) of Cincinnati. These funds will support their Riverside Housing project in Adrian.
The Riverside Housing project is part of Neighbors of Hope’s renovation efforts on their most recently acquired property at 227 Riverside Avenue in Adrian. Neighbors of Hope secured the property in June of 2019 and have already invested more than half of the renovation costs through their fundraising efforts with local businesses, organizations, and donors. This AHP grant will provide the funding resources needed to finish the project, which when completed will provide a new transitional housing facility for its Men’s Ministry program that serves men experiencing addiction and homelessness.
Neighbors of Hope Executive Director, Pastor Steven Palmer, says, “After more than a decade of trying to find an alternative site to house this ministry, we were truly blessed when we acquired this property a year and a half ago. We are deeply grateful to everyone who contributed to our campaign to raise funds for this project. And now, with the blessing of this AHP grant, and the sponsoring partnership with Premier Bank, we can finish this project and elevate the quality of compassionate care we provide to our neighbors in need.”
The FHLB of Cincinnati’s AHP is their largest and most impactful initiative with more than $790 million awarded since 1990 to develop more than 98,000 affordable housing units. AHP can be used to fund both ownership and rental projects. Grants are awarded on a competitive basis in one offering each year.
Neighbors of Hope provides Gospel-driven life transformation to our neighbors experiencing homelessness, hunger, and the pains of addiction through a comprehensive suite of Christ-centered programs and services. Along with Blessings & More Resale Store, they provide transitional housing programs for men, women and children, addiction recovery programs, Fishes & Loaves Food Pantry, Woven Hope women’s boutique, Word Made Flesh radio ministry, and a donation & recycling center. To learn more about this or other social enterprises and ministries Neighbors of Hope operates, visit neighborsofhope.com.