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The funding comes from the Federall HomeLoan Bank's 2007 Affordable Housingy Program, which totals $50 million to creatw or preserve more than 6,00 0 affordable housing units in states the bank serves. In local developers working in partnershipp with FHLB member bankzs will receive grants rangingfrom $100,000 to $500,000o to help fund affordable housing in Cambridge, Catonsville and Princess Anne. East Baltimore Good Neighbor Initiativ ePhase I, funded by and sponsored by Chesapeaks Habitat for Humanity of Baltimore, will receivd $300,000 for 30 housing units. Parktownm Apartments, funded by (NASDAQ: BAYN) and sponsorex by , will receive $258,705 for 48 housing units. St.
Ambrose Intervention Buying, funded by Bradfordd Bank and sponsoredby , will receive $200,000 for 20 housingf units. The Senior Housing Community atRolling Road, funded by (NYSE: STI) and sponsored by Enterprise Housintg Corporation of Baltimore, will receiv e $373,500 for 83 housing units. The Federalk Home Loan Bank of Atlantaoffersd low-cost financing, community development grants and other banking services to help more than 1,200p member banks make affordabld home mortgages and provide economic developmentt credit to neighborhoods and communities.
Its members includr commercial banks, credit thrifts and insurance companies basedin Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia and D.C.
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