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Pilot Homeowner Rehabilitation Program – 2007 Grants

FHLBank Pittsburgh has awarded a total of $1 million in grants under its 2007 Pilot Homeowner Rehabilitation Program (HRP).

Seven sponsoring organizations across the Bank’s district of Delaware, Pennsylvania and West Virginia will share the $1 million to fund a variety of neighborhood revitalization projects. The Pilot Homeowner Rehabilitation Program provides housing repair and rehabilitation assistance to homeowners with income at or below 80 percent of the median income in their area. A maximum of $200,000 per proposal is allowed under HRP, with a $15,000 maximum grant allowed per home or homeowner.

Twenty-nine applications requesting a total of $4.79 million were received by the Bank – well above the $1 million set aside for 2007's pilot program. The eight applicants receiving funding are:

ACTION Housing & Community Economic Development Corp.
For: Clairton, PA

Lender: Merchants National Bank of Kittanning
Households: 23
Amount: $115,000

ACTION Housing
For: Allegheny County, PA

Lender: Merchants National Bank of Kittanning
Households: 10
Amount: $100,000

City of Parkersburg, WV
For: Parkersburg, Vienna, Williamstown, WV

Lender: WesBanco Bank
Households: 8
Amount: $110,000

Cornerstone West
For: Wilmington, DE (Little Italy, Cool Spring, Hilltop)

Lender: Artisans Bank
Households: 11
Amount: $150,000

 Fairmont Morgantown Housing Authority
For: Westover, WV

Lender: United Bank
Households: 11
Amount: $150,000

People’s Emergency Center
For: Philadelphia, PA (Saunders Park, Powelton, Mantua)

Lender: Citizens Bank of Pennsylvania
Households: 5
Amount: $75,000

Redevelopment Authority of the City of Butler, PA
For: Butler, PA

Lender: NexTier Bank
Households: 12
Amount: $150,000

SHED (SAFE Housing and Economic Development)
McDowell and Wyoming counties, WV

Lender: Pioneer Community Bank
Households: 15
Amount: $150,000

These grantees must ensure that grant money received is applied to projects that do one or more of the following: 1) provide energy efficiency, 2) improve accessibility, 3) complement public/private investment to revitalize a community or neighborhood, 4) reflect a new or existing community plan or strategy, 5) result in more than 50% of the homeowners assisted having incomes at or below 50% of the area median income, 6) target blocks with less than 10% vacancy or blocks where development projects are in the pipeline and will reduce the vacancy rate to less than 10 percent. Please see the 2007 HRP Guidebook for more information.

FHLBank’s Pilot Homeowner Rehabilitation Program reflects the Bank’s philosophy of Community Stability in which supported projects improve resident quality of life, enhance the larger community, act as a catalyst for accomplishing a community strategy and advance positive outcomes across the community.