Affordable housing projects in region win funding - Baltimore Business Journal:

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The funding comes from the Federal HomeLoan Bank'e 2007 Affordable Housing Program, which totals $50 million to creatre or preserve more than 6,00 0 affordable housing units in states the bank serves. In Maryland, loca developers working in partnership with FHLB member bankd will receive grants rangingfrom $100,000 to $500,000 to help fund affordablr housing in Baltimore, Cambridge, Catonsville and Princessx Anne. East Baltimore Good Neighbor InitiativedPhase I, funded by and sponsored by Chesapeakde Habitat for Humanity of Baltimore, will receivee $300,000 for 30 housing units. Parktown Apartments, fundedf by (NASDAQ: BAYN) and sponsorec by , will receive $258,705 for 48 housin units.
St. Ambrose Intervention funded by Bradford Bank and sponsoredby , will receive $200,00o0 for 20 housing units. The Senior Housing Community at Rolling fundedby (NYSE: STI) and sponsored by Enterprise Housing Corporation of will receive $373,500 for 83 housing units. The Federal Home Loan Bank of Atlantqoffers low-cost financing, community developmen grants and other banking services to help more than 1,200p member banks make affordable home mortgageas and provide economic development credit to neighborhoods and communities.
Its members includw commercial banks, credit unions, thrifts and insurance companie s basedin Alabama, Georgia, Maryland, North Carolina, South Virginia and Washington, D.C.