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Congressman Charlie Dent (PA-15) presented nearly $1 million in grants to three area housing projects during the grand opening of a public housing project in Allentown on October 29, 2007. Congressman Dent joined Allentown Mayor Ed Pawlowski, FHLBank representatives William Joseph and Bill Miller and regional housing, community development and banking leaders at the event, which marked the opening of the first two phases of Allentown Housing Authority’s Overlook Park project.

The grants will help fund a total of 95 rental units at Overlook Park and the Bethlehem Affordable Housing project sponsored by Bethlehem YMCA in addition to 27 homes for purchase by lower-income families at Habitat for Humanity’s Minsi Ridge project in Bethlehem. The grants were awarded by Keystone Nazareth Bank and Lafayette Ambassador Bank, who participate in FHLBank’s Affordable Housing Program.

With the grand opening, two of the four rental phases at Overlook Park are now complete. Owner-occupied units and a community center will round out the project. Seventy-nine families now live at the site.

"The availability of affordable housing has increasingly become a concern, and therefore a priority in the Lehigh Valley," Congressman Dent said. "Projects like Overlook Park, Minsi Ridge and the YMCA housing units in Bethlehem are providing families with a stable foundation to further develop necessary job skills and education. I thank the partners who are making this a reality."

A variety of public, private and nonprofit resources support each of the three projects that received the grants. Of special note is the role of the Pennsylvania Housing Finance Agency. PHFA awarded Overlook Park $1.19 million in financing and $1.10 million in Low Income Housing Tax Credits. Bethlehem Affordable Housing received $990,000 of PHFA PennHOMES funding and $212,469 in tax credits.