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Congresswoman Capito Announces $1.5 Million for Affordable Housing

On February 22, 2008, U.S. Rep. Shelley Moore Capito announced more than $1.5 million in FHLBank Pittsburgh grants for new affordable housing in West Virginia.

Congresswoman Capito, the ranking member of the House Financial Services Committee’s Subcommittee on Housing and Community Opportunity, said special needs individuals merit special attention when it comes to the creation of affordable housing.

“It’s important that we show a commitment to affordable housing and to West Virginians of all walks of life,” noted Capito. “The projects we’ve announced today will help provide a steady supply of housing and stable living environment for members of our community who face genuine challenges. These initiatives will have a real impact on the lives of West Virginians, and I’m grateful to the Federal Home Loan Bank of Pittsburgh for their commitment to the cause of affordable housing.”

John Price, FHLBank's president and CEO, also spoke at the event.

The $1.56 million in Affordable Housing Program (AHP) funds awarded by the Bank will help create 56 units of housing across the state. The awards bring to $8.16 million the total amount of in-state funding released through AHP, enabling the construction or rehabilitation of 1,057 units of affordable housing at 64 projects since the program’s inception.