Premier Bank Helps YNDC, Habitat for Humanity Secure Affordable Housing Funds
YOUNGSTOWN, Ohio – Premier Bank has announced that its community partners, Youngstown Neighborhood Development Corp. and Habitat for Humanity MidOhio, have been selected as 2021 Affordable Housing Program funding recipients.
Premier Bank helped both agencies secure funding for initiatives that provide low-to-moderate income residents and families access to affordable housing, the bank said.
Federal Home Loan Bank of Cincinnati’s Affordable Housing Program provides grants awarded on a competitive basis and subsidized loans for the acquisition, construction or rehabilitation of affordable housing for households with incomes at or below 80% of the area’s median income.
The Youngstown Neighborhood Development Corp. will receive $1,000,000 from the AHP for the Youngstown Home Repair program 2021. This program offers an emergency home repair program to assist residents of owner-occupied, single-family homes with emergency repairs, primarily roof replacements at no cost to the owners.
“YNDC is excited to announce this major investment from the Federal Home Loan Bank of Cincinnati that will allow us to assist dozens of Youngstown households with critical home repairs and continue our ongoing neighborhood stabilization efforts,” said Ian Beniston, YNDC’s executive director.
Applicants must meet certain income eligibility requirements set forth by the Department of Housing and Urban Development.
“We are grateful to Premier Bank, the Federal Home Loan Bank of Cincinnati, City of Youngstown, The Raymond John Wean Foundation, Alta Head Start, Flying High, and other partners for their support and partnership in making this possible,” Beniston said.
Habitat for Humanity-MidOhio will receive $220,000 from the AHP for the Habitat MidOhio Homeownership Project. This program provides opportunities for families in central Ohio to build homes that are safe, decent and affordable.
“Premier Bank has been a fantastic partner to work with since our introduction in 2018. They underwrite our new home loans as Habitat partner families prepare themselves to take possession, and they also purchase a number of our loans each year, thereby freeing up resources for reinvestment in our programs,” said E.J. Thomas, president and CEO of Habitat for Humanity-MidOhio. “And we’re now excited to be partnering with Premier to help 16 low-income local families achieve the dream of homeownership with the awarding of this AHP grant.”
Reginald Temple, vice president, director of community development at Premier, said the bank strives to help make a difference in the communities it serves.
“As a community bank, we work to provide resources to aid in the development and maintenance of healthy, thriving communities,” he said. “We believe that by working together, we can create strong, diverse communities that are able to attract and keep talent, start and grow businesses, and overcome issues that arise.”
“Our commitment to providing excellence in service extends beyond banking. It includes giving back to the communities in which we live and work, and striving to make a difference each and every day,” added Josh Toot, Mahoning Valley Market President, Premier Bank.
“We have a deep commitment to serving our clients and communities. As we continue to grow, so does the impact we have on our communities,” said David Dygert, Columbus market president, Premier Bank.
Pictured: YNDC Housing Director Tiffany Sokol and Executive Director Ian Beniston with Premier Bank Community Development Officer Lee Fields and Reginald Temple, vice president, director of community development.
Published by The Business Journal, Youngstown, Ohio.