The Federal Home Loan Bank of New York joined with Enterprise Community Partners, Inc. to host a workshop with local housing leaders to discuss strategies for and resources available to support affordable housing development across the U.S. Virgin Islands.
The January 27, event provided an opportunity for current and prospective developers, housing organizations, financial institutions, government officials and other community stakeholders to convene, learn more about the FHLBNY’s housing and community development offerings, and connect with peers working to expand affordable housing opportunities throughout the U.S. Virgin Islands.
“The impact the Federal Home Loan Bank of New York makes through our grant programs is always made in partnership with our members and housing partners,” said Randolph C. Snook, president and CEO of the FHLBNY. “That is why holding workshops and training sessions like this is so important – not only to provide these stakeholders with a better understanding of our offerings, but to gain valuable insights into the housing needs of the communities we serve so that we can position our cooperative to make a difference.”
“Housing affordability continues to be a challenge for families around the country. Workshops like this one help us to better understand the unique needs and opportunities in the U.S. Virgin Islands,” said Jelani Newton, Sr. Director at Enterprise Community Partners, where he leads the national housing nonprofit’s work in the USVI. “We’re extremely grateful to our local partners for sharing their expertise and insight and for their commitment to bringing more affordable homes to Virgin Islands families. We’re also deeply appreciative of FHLBNY for their continued support and active engagement in this important work.”
The more than 40 participants in attendance at the event received an overview of the FHLBNY’s Affordable Housing Program (“AHP”) – its flagship grant program. Each year, the FHLBNY allocates 10 percent of its earnings to fund the AHP. Since the first AHP awards in 1990, the FHLBNY has supported 2,186 projects with more than $1.1 billion in grants that have helped create or preserve nearly 110,000 units of affordable housing. The FHLBNY allocates an additional five percent of its income to help fund a range of voluntary programs aimed at supporting housing, small businesses and community development. In 2025, the FHLBNY made a record $150.4 million in funding available through its housing and community development programs.
“Building affordable housing in the Virgin Islands starts with empowering local lenders, developers, and community partners with the right tools,” said Senator Marvin Blyden, Chairman of the Senate Committee on Housing, Transportation, & Telecommunications. “Today’s workshop and the Affordable Housing Program help to ensure that housing solutions are shaped locally and respond directly to the needs of our people.”
Institutions that are interested in the FHLBNY’s housing and community development products and programs can contact the FHLBNY’s Community Investment team at (212) 441-6850.
Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks. As of December 31, 2025, the FHLBNY serves 339 member institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing for America’s homebuyers.
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