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61 June 2025 J O U R N A L June 2025 » AHP grants subsidize the acquisi- tion, new construction, or rehabilitation of rental or owner-occupied housing. Delivered in partnership with FHLBank Chicago financial institution members, these forgivable grants help to address ongoing housing supply challenges by expanding access to quality affordable housing in many communities. "The AHP General Fund continues to be an impactful resource for address- ing critical housing needs and strength- ening communities," said Katie Naftzger, SVP and Community Investment Officer, FHLBank Chicago. "We're proud to partner with our members to deliver funding that helps create and preserve affordable housing, expanding oppor- tunities for residents and communities alike." Since 2017, FHLBank Chicago mem- ber, First Mid Bank & Trust (First Mid), has helped secure more than $3 million in AHP funds in partnership with Coles County Regional Planning and Coles County Habitat for Humanity. These funds support essential home repairs and new home construction across rural central Illinois, ensuring that individuals and families in eight counties have access to safe and affordable housing. "These grants make a meaningful difference—enabling critical updates like roof repairs, system replacements, and other improvements that help preserve the homes people rely on," said Kayla Aaron, Regional Retail Loan Manager at First Mid. "They strengthen the housing stock and help maintain the fabric of our communities." BIPARTISAN MEASURE SEEKS TO EXPAND AFFORDABLE RURAL HOUSING S ens. Catherine Cortez Masto, Tina Smith, and Mike Rounds have introduced bipartisan legislation to improve federal rural housing programs and strengthen the supply of affordable housing in rural America, the Rural Housing Service Reform Act. The Act expands housing opportunities by offer- ing loans, grants, and rental assistance to rural communities across the country. "Working families in the Silver State should have access to secure, affordable housing no matter where they live," Sen. Cortez Masto said. "This bipartisan legislation would provide vital resources to improve access to affordable housing in our rural communities, from Elko to Ely." Rural parts of the United Sstates saw only a 1.7% increase in the number of housing units between 2010 and 2020, with almost half of states seeing a de- crease in the number of rural units. At the same time, homelessness in rural counties is currently increasing. The Rural Housing Service Reform Act would improve and build upon several U.S. Department of Agriculture (USDA) rural housing programs. Specifi- cally, the Act would: • Fix a longstanding problem for prop- erties, known as Sec. 515 properties, that were financed by the USDA decades ago and now have maturing mortgages, by making it easier for nonprofits to acquire those properties and by decoupling rental assistance so that assistance does not disappear when those mortgages mature. • Make permanent a USDA pilot program to make mortgage loans available in Native communities by partnering with local Community Development Financial Institutions (CDFI), lenders designed to provide financing and support to under- served communities. • Bring the USDA's outdated way of measuring incomes in line with the U.S. Department of Housing and Ur- ban Development's practices. • Modernize the USDA's foreclo- sure process to cut red tape, better protect homeowners, and ensure USDA-owned properties remain affordable. • Update the rules for the home repair loan program to make it less burden- some to get smaller loans. "These grants make a meaningful difference— enabling critical updates like roof repairs, system replacements, and other improvements that help preserve the homes people rely on." —Kayla Aaron, Regional Retail Loan Manager, First Mid