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Contact: Neil Cotiaux, FHLBank Pittsburgh: 412-288-2851; cell: 412-335-9488; Neil.cotiaux@fhlb-pgh.com

Habitat for Humanity to Break Ground on Carriage Stone Homes
Habitat and its partners commit $500,000 to replace blighted property with five new townhomes in Norristown priced within reach of Montgomery County families

Norristown, PA - April 10, 2007 - U.S. Rep. Jim Gerlach (PA-6) will be the featured speaker as Habitat for Humanity of Montgomery County breaks ground for their newest development, the Carriage Stone Homes, at the corner of Green and Jacoby streets in Norristown on Monday, April 16 at 10:00 a.m. The event will recognize the committed individuals and organizations investing nearly a half-million dollars toward the construction of five two-story, three bedroom townhomes. These homes are designed to complement existing neighborhood architecture and will be priced within reach of many Montgomery County families who might not otherwise become homeowners.

Project partners on the Carriage Stone Home development include: Montgomery County Commissioners, KCBA Architects, The Federal Home Loan Bank of Pittsburgh (FHLBank Pittsburgh), The Genuardi Family Foundation, Villanova University, Citibank, The Patrick Monaghan Foundation and Rohm & Haas.

Project partners will be represented by:

• Montgomery County Commissioner Jim Matthews
• Father Peter Donohue, President of Villanova University
• Don Haskins, vice president of Community Relations, Citigroup
• Peter Knight, director, government relations, FHLBank Pittsburgh
• Luis Fernandez, director, Business Group, Rohm and Haas

“This development has been four years in the making,” said Brenda Egolf-Fox, executive director, Habitat for Humanity of Montgomery County. It was 2003 when an abandoned mansion on the property caught fire and was later condemned, prompting Habitat Board members to start negotiating a purchase of the site.

More than 2,500 volunteers, including many associates of the partner organizations, will participate in the construction process. Completion of the development has been slated for April 2008. When completed, the development will help stabilize an already improving neighborhood and will provide an additional $8,000 in annual tax revenue.

For more information, contact Brenda Egolf-Fox, executive director of Habitat for Humanity of Montgomery County at (610) 278-7710 or by email at brenda@habitatmontco.org.

Habitat for Humanity of Montgomery County is a nonprofit organization whose mission is making sure simple, decent homes are within reach of Montgomery County families. Habitat homebuyers build equity, gain stability, and enhance the county's quality of life. For more information about Habitat, go to www.habitatmontco.org.