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FOR RELEASE: 2 p.m.

Contact:
Bill Dickinson, Allentown Rescue Mission: 610-740-5500, ext. 14
Gregg Bortz, Office of Congressman Dent: 610-861-9734
Neil Cotiaux, FHLBank of Pittsburgh: 412-288-2851; cell: 412-335-9488

CONGRESSMAN DENT, EAST PENN BANK PRESENT $500,000 GRANT:
ALLENTOWN RESCUE MISSION TO BUILD, REHABILITATE 94 HOUSING UNITS

ALLENTOWN, PA, August 15, 2006 — U.S. Rep. Charles W. Dent (PA-15) and officials of East Penn Bank today announced a one-half-million-dollar grant for major renovation work at Allentown Rescue Mission, designed to meet the needs of a growing number of residents for years to come.

At a ceremony held in the mission's garden at 355 W. Hamilton Street, Congressman Dent joined Brent L. Peters, president and chief executive officer of East Penn Bank, in presenting $500,000 for the major overhaul, the first major renovation of the facility since it relocated to Hamilton Street in 1961. The project, which includes the construction of 17 new housing units for the homeless and the rehabilitation of 77 existing ones, reflects the mission's continued commitment to meeting the needs of the region's less fortunate.

The $500,000 grant was awarded during the latest funding round of FHLBank Pittsburgh's Affordable Housing Program. FHLBank, part of the Federal Home Loan Bank System, is a private cooperative of community financial institutions including East Penn Bank, dedicated to providing low-cost funding and grants for community and economic development.

"For more than a century, Allentown Rescue Mission has played a unique role in addressing the needs of a fragile segment of our society," Congressman Dent said. "The funding we announce today ensures that an increasing number of homeless have a roof over their heads, warm surroundings and — equally important — the supportive human environment they need to improve their lives. I salute East Penn Bank and FHLBank for their corporate stewardship."

"This funding is a significant investment and is an affirmation of the role that faith-based institutions play in their neighborhoods," remarked Gary F. Millspaugh, the mission's executive director. "The fact that this grant was championed, approved and delivered by two private financial institutions underscores the considerable good that the private sector can play when it joins hands with the nonprofit community."

In addition to rehabbing 77 living quarters and building 17 additional units, the mission will install an elevator, barrier-free bathroom facilities, a new stair tower, insulation and energy-efficient doors and windows. Overall, renovation work will enhance safety, aesthetics and ADA compliance while reducing facility operating costs through insulation and environmental improvements. Of the mission's 94 housing units, all will serve the homeless with 30 reserved for special-needs individuals.

Work at Allentown Rescue Mission is scheduled to begin about October 1 with installation of the elevator and stair towers. Once building egress issues have been resolved, work will then progress on building aesthetics and environmental concerns. Build-out of 17 new living units and renovation of the 77 existing units represents the final stage of the project, scheduled for completion by August 2007.

Sponsors of the grant application were the mission and Foster & Associates of Holland, MI, consultants in affordable housing applications working with rescue missions across the country. Foster & Associates has assisted 21 rescue missions in obtaining $10.8 million in grants from various FHLBanks during the last two and a half years.

2005 outreach

Last year, Allentown Rescue Mission served 627 men in crisis with short-term housing and services that included food and clothing. Seventy-seven men also received individualized case management to help them solve problems causing their homelessness, including chemical addiction. The mission operates a substance abuse program that boasts a 48 percent graduation rate and a long-term principled-living program that graduates 64 percent of its enrollees.

The mission also reaches out to low-income individuals with bad debt and helps them find affordable housing in the larger community while also managing 33 units of affordable permanent housing.

Third mission to receive funding

Through local financial institution members, FHLBank Pittsburgh has awarded a total of $1.5 million in affordable housing grants to rescue missions in the Keystone State during the past twelve months: $500,000 each to Allentown Rescue Mission, Bethesda Rescue Mission in Downtown Harrisburg and Water Street Rescue Mission in Downtown Lancaster.

Headquartered in Emmaus, East Penn Bank serves consumers and businesses across the Lehigh Valley through nine community offices. Its newest office is located in Bethlehem.

The Federal Home Loan Bank of Pittsburgh (FHLBank Pittsburgh) is a wholesale bank that serves the housing finance and community and economic development needs of its owner-members. The Bank provides reliable access to low-cost funds, competitive pricing in the purchase of mortgage loans, correspondent banking, technical assistance, affordable housing grants and other programs so members can better serve their own communities. The Bank is privately capitalized and funded, does not use taxpayer dollars, and enjoys a triple-A rating. It currently has 334 members in its district of Delaware, Pennsylvania and West Virginia and approximately $74.7 billion in assets. FHLBank Pittsburgh is one of twelve Banks in the Federal Home Loan Bank System, established by Congress in 1932 to support the residential mortgage activities of local financial institutions.