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2005 Press Release

ATTENTION: EDITORS / ASSIGNMENT EDITORS

Contact:
John Gentzel, press secretary, U.S. Rep. James Gerlach: 202-225-4315
Neil Cotiaux, FHLBank of Pittsburgh: 412-288-2851; cell: 412-335-9488

GERLACH TO CONDUCT TOUR, HOUSING FORUM ON OCTOBER 4: AFFORDABLE HOUSING, COMMUNITY DEVELOPMENT, COMMUNITY BANKING TO BE THE FOCUS OF TALKS

NORRISTOWN, PA, September 29, 2005 — U.S. Rep. James Gerlach (PA-6) and officials of the Federal Home Loan Bank of Pittsburgh (FHLBank) will hold a Housing Forum Tuesday, October 4, at 3 p.m. at The Rittenhouse, 1705 Locust Street in Norristown.

Prominent affordable housing advocates, bankers, developers and REALTORS© from the Sixth District will join Rep. Gerlach at the forum. The congressman will provide a status report on affordable housing and economic and community development, with special emphasis given to developments across Montgomery County. The group will also discuss private and public aid available to homebuyers and businesses, and respond to inquiries from the public.

Prior to the forum, Congressman Gerlach will lead a tour highlighting the successful development of affordable housing now being rented by low-income elderly in Montgomery County.

The congressman's first stop will occur at 1:30 p.m., October 4, at the Jefferson Apartments in Pottstown, a 46-unit rental complex at 250 Hale Street. The facility was completed in 2004 with a $288,000 Affordable Housing Program (AHP) grant from the FHLBank. The congressman will tour the apartments, meeting with staff and a number of residents.

The second stop will occur at 3 p.m. at The Rittenhouse, site of the housing forum, which is a 48-unit rental complex, also for low-income elderly, on the site of the former David Rittenhouse Junior High School. The facility was completed in 1997 with $240,000 in AHP funding, after the Colonial Revival-style building was placed on the National Register of Historic Places.

The FHLBank is a $60 billion wholesale bank that uses private capital to provide low-cost funding for affordable housing and community development to approximately 340 member financial institutions in Delaware, Pennsylvania and West Virginia. FHLBank membership includes 15 institutions headquartered in Congressman Gerlach's district.

In the Sixth Congressional District, the FHLBank of Pittsburgh has contributed more than $5 million in AHP grants for approximately 1,000 housing units. It has also made available $5 million in Banking On Business (BOB) program funds for about five dozen small businesses as well as $12 million in Community Lending Program (CLP) funding for a half-dozen community and economic development projects. In addition, nearly $500,000 in Home Buyer Equity Fund (HBEF) down payment and closing cost grants have benefited nearly 200 first-time homebuyers.

Representatives of the news media are invited to cover both the tour and Housing Forum. Media representatives interested in taking the tour should call Neil Cotiaux of the FHLBank (412-288-2851) or John Gentzel, communications director for Congressman Gerlach (202-225-4315), to confirm their participation.