The awards total $30.3 million and will support 48 affordable housing projects that will benefit low-income residents throughout six New England states. Of the total amount, $14.2 million was awarded to the Affordable Housing Program (AHP) in the form of grants and subsidies. The projects will benefit the states of Massachusetts, Connecticut, Maine, New Hampshire, Rhode Island and Vermont.
The projects will include single-family, energy-efficient homes built on donated lots or land foreclosed by the city for first-time home buyers, rehabilitation of rental property, new units for homeless persons, multi-family properties, units for seniors, Habitat for Humanity homes, and 42 rental units for low- and very low-income households. Qualifying income levels range anywhere from 30 percent to 80 percent of area median income.
The FHL Bank of Boston works with member banks throughout New England to award grants and low-interest loans for the Affordable Housing Program (AHP). The partnership enables them to provide more housing for very low-, low-, and moderate-income residents throughout the New England states.
For more information, visit www.fhlbboston.com/communitydevelopment/ahp/03_01_05a_initiatives_detail.jsp?articleType=AHP+2012-1
