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FOR RELEASE: 10:30 a.m., April 30, 2007

Contact: Kevin Evanto, Office of Chief Executive Onorato, 412-350-3171
Christina Stacey, U.S. Rep. Altmire, 724-971-7138
Matt Dinkel, U.S. Rep. Doyle, 202-225-2135
Neil Cotiaux, FHLBank: 412-288-2851, cell: 412-335-9488;

Altmire, Doyle, Onorato announce nearly $3 million in housing grants:
440 units of affordable housing for rent or purchase to be built across region

PITTSBURGH, PA, April 30, 2007 - U.S. Rep. Jason Altmire (PA-4), U.S. Rep. Mike Doyle (PA-14) and Allegheny County Chief Executive Dan Onorato today announced the awarding of $2.86 million in grants for affordable housing to serve the homeless, persons suffering from dependencies or disabilities and those with limited income.

Speaking at the Allegheny County Courthouse, Onorato and the two congressmen said the new and rehab housing, for rent or purchase, will be developed in numerous neighborhoods across Allegheny and Beaver counties, with several projects slated for other communities in western Pennsylvania. Many of the 440 units will be dedicated to meeting the needs of homeless fathers, single mothers, individuals recovering from alcohol or drug dependency, the physically and mentally handicapped, first-time homebuyers and, in the case of one project, nuns.

Today’s announcement was made in concert with the Federal Home Loan Bank of Pittsburgh (FHLBank Pittsburgh), whose president and CEO, John R. Price, helped present the grants to nonprofit groups and developers. The grants are privately funded by FHLBank as part of its approximately ten percent annual set aside of net income through the Bank’s Affordable Housing Program (AHP). FHLBank is a government-sponsored enterprise chartered by Congress 75 years ago to ensure a continuous supply of low-cost housing finance at the neighborhood level.

“The grants we announce today will bring much-needed help to a number of neighborhoods in the 14th District and help set the stage for further progress in overall community revitalization,” said Congressman Doyle. “This new housing offers family stability, needed onsite social services and a better quality of life for a variety of renters or buyers in Duquesne, East Liberty, the Hill District, Homewood, Oakland, Penn Hills, Wilkinsburg and other communities.”

“Quality affordable housing is an integral part of Greater Pittsburgh’s comprehensive commitment to community renewal,” said Onorato. “At a time when federal housing dollars are limited, these private grants represent a welcome source of funding. Every day gives new credence to the conviction that our region’s best days are ahead of us.”

“Families throughout western Pennsylvania are in need of affordable housing options so I am extremely pleased by today’s announcement of nearly $3 million in grants to support quality long-term housing projects in Beaver County and throughout the region,” Congressman Altmire said. “These public-private partnerships are making a difference by creating affordable housing opportunities that are revitalizing our communities, one home at a time.”

FHLBank grants being made to affordable housing projects within the City of Pittsburgh and Allegheny County are:

Allegheny County Housing Authority ($175,000) - Sponsored by the Authority and TREK Development Group, Inc., Homestead Apartments IV represents the final stage of renovation in the Homestead revitalization. Fifty-two units of affordable rental housing will include six dwellings dedicated to the physically impaired and four units for individuals with hearing and vision impairments. Site improvements include enhanced ventilation, energy efficiency and upgraded mechanical and electrical systems, with the goal of making Homestead Apartments the most desirable development in the Allegheny County Housing Authority inventory. Project completion and move-in is expected this October. FHLBank member PNC Bank assisted with the grant application and will deliver the funding.

Bedford Hill Apartments - Phase II ($500,000) - In Pittsburgh’s Hill District, 116 mixed-income rental units will be built in the 2100 block of Bedford Avenue as a continuation of the Bedford HOPE VI revitalization effort. Ninety-one units will serve low-income individuals and families, with the remaining 25 set aside for market-rate rental. Bedford Hill II will offer 44 one-bedroom, 47 two-bedroom, 21 three-bedroom and four four-bedroom dwellings convenient to public transportation, retail stores, medical and child care providers and places of worship. Residents will have access to supportive services including adult education, training and technology as they transition to greater self-sufficiency. The development site is currently being readied for construction. Sponsor: McCormack Baron Salazar, Inc. FHLBank member Citizens Bank will deliver the project grant.

Dad’s House and Safe Haven ($500,000) - In the East Liberty neighborhood, nine blighted properties will be redeveloped into 15 rental units at North St. Clair Street and East Liberty Boulevard to accommodate the homeless. This affordable, permanent housing will include two one-bedroom units, six two-bedroom units and seven three-bedroom units complemented by central air conditioning, digital access and security systems. ‘Dad’s House’ will address the needs of homeless fathers in recovery from substance abuse or mental illness, along with their children, while ‘Safe Haven’ will provide shelter for chronically homeless men. Construction is expected to begin in the spring of 2008 and first occupancy in early 2009. Sponsor: East Liberty Development, Inc. Bank: Citizens Bank.

McKeesport Seventh Ward Housing - Phase I ($100,000) - Located in one of FHLBank’s Blueprint Communities, ten new homes in this first phase of development will accommodate very-low- to moderate-income residents on or around a 2.4-acre reservoir site, one of the most distressed sections of the city. Eight homes are reserved for first-time homebuyers and two for the physically handicapped. One house is almost complete and ground was just broken for a second. PNC’s Homebuyers Club has been instrumental in creating a waiting list of qualified buyers for these new homes, which are part of the larger Blueprint Communities objective of revitalizing the City of McKeesport in a comprehensive, holistic manner. Sponsors: McKeesport Housing Corporation, McKeesport Neighborhood Initiative. Bank: PNC Bank.

Milwaukee Clarissa - Phase II ($250,000) - Pittsburgh Housing Development Corporation is working with Amani Christian Community Development Corporation to build seven new homes along Clarissa Street in the Upper Hill neighborhood. Each home will be a single-family dwelling with three bedrooms. Amani Christian is coordinating community support and facilitating buyer training. The City of Pittsburgh’s recent purchase of property tax liens has helped maintain the project’s momentum. Bank: Citizens Bank.

2006-2007 Rehabilitation Project ($450,000) - Sponsored by longtime FHLBank partner, Hosanna Industries, Inc., this sweeping renovation project will upgrade a total of 150 very low- to low-income homes at scattered sites. Targeted homes will be single-family dwellings, typically three-bedroom and in urban, suburban and rural neighborhoods experiencing economic hardship. Volunteer labor will be performed on a rolling basis at sites in Duquesne, East Liberty, the Hill District, Homewood, Oakland, Penn Hllls, Wilkinsburg and other communities. Some work has already been completed. At least 25 homes being rehabbed will benefit the physically handicapped and 20 will serve the mentally disabled. Working with hard-working volunteers and local businesses making in-kind contributions of supplies, Hosanna’s goal is to remove blight, improve structural safety, enhance energy efficiency and reinvigorate neighborhoods. Following renovation work, a team of volunteers will return to selected homeowners for further education in home upkeep and needs follow-through. Mars National Bank, an FHLBank member, assisted Hosanna with its grant application and will deliver the funding.

2007 East End Pittsburgh Comprehensive Rehabilitation Project ($160,000) - Beginning in May, this project by the faith-based housing ministry, Hosanna Industries, Inc., will rehabilitate eight abandoned houses and assist eight very low- to low-income individuals or families in becoming owners of these homes. The homes will typically be three- to six-bedroom units, and at least six will target first-time homebuyers. One is set aside for the physically handicapped, another for the mentally disabled. Rehabbing is expected to be complete this summer, and neighborhood nonprofits will be partnering with Hosanna to deliver health, education, life skills and employment training to these new homeowners and their neighborhoods. Bank: Mars National Bank.

Three Beaver County developments receiving AHP funding today are:

M. Anderson ($10,000) - A single mother and her daughter will benefit from the transformation of a vacant two-story, two-bedroom home in Beaver Falls into an affordable home for this first-time homebuyer. Since 1992, project sponsor Habitat for Humanity of Beaver County has built or rehabbed 32 homes, in part with the contribution of qualified buyers’ sweat equity. This AHP grant is being delivered by First National Bank of Pennsylvania.

Law-Williams ($10,000) - Like the Anderson project, Habitat for Humanity of Beaver County will rehabilitate a home in Rochester, PA for a single father and his daughter using volunteer labor. Rehabbing of this two-story, two-bedroom home will include installation of a high-efficiency furnace and water heater. Project materials are being paid for through in-kind or cash donations and by recycling the mortgage payments of the program’s established families. Like the Anderson project, the grant will be delivered by First National Bank of Pennsylvania.

Sisters of St. Joseph ($230,000) - This project will renovate a former convent built in 1954 into 23 apartments for nuns. Five of the units will be reserved for frail elderly. The six-story project, which is awaiting receipt of other financing, will be part of a larger parish campus. Dormitory-style rooms will be converted into independent living units with full kitchens, bathrooms and bedrooms. In addition to providing housing, the Sisters of St. Joseph will extend support services that may include meal and exercise programs. Sponsor: TREK Development Group, Inc. FHLBank member PNC Bank assisted with the grant application and will deliver the funding.

Three other southwestern Pennsylvania projects are also recipients of AHP grants:

Habitat for Humanity Rural Development - Year One ($44,000) - Four families will engage in sweat equity alongside other volunteers to build four single-family homes along Ford Street in Canton Township, PA. These qualified buyers will also be required to attend budgeting, credit counseling and homeownership workshops. Six other families will build homes in Year Two of the project. Sponsor: Habitat for Humanity of Washington County. Bank: Washington Federal Savings Bank.

Uniontown Family Homes ($400,000) - Located in Uniontown’s historic East End, a total of 30 lease-purchase, three- and four-bedroom homes will be built under the sponsorship of the Fayette County Community Action Agency on in-fill sites in the City of Uniontown. Nineteen of the homes will be located in an urban subdivision, which will include a clubhouse and tot lot. Four of the single-family units will be fully handicapped accessible, and 23 units will contain VisitAbility features. Two additional homes will be dedicated to families with one or more members suffering from severe mental illness or recovering from alcohol or drug addiction. Case management services will be available through local social services agencies. To assure long-term resale value, the homes will be digitally accessible and certified to meet criteria for energy efficiency and conservation, operational savings and sustainable building practices. Co-developer: PIRHL, Inc. Bank: First National Bank of Pennsylvania.

Washington County Habitat for Humanity ($36,000) - Three very-low-income families will help build their homes on Park Avenue and Fayette Street in Washington and on Tannehill Street in Canonsburg. One of the homes, a four-bedroom dwelling, will serve a special needs family of five that includes a parent with a seizure disorder and two mentally disabled children. Bank: Washington Federal Savings Bank.

Chartered by Congress in 1932, FHLBank Pittsburgh serves the needs of 339 member-owner financial institutions in Delaware, Pennsylvania and West Virginia. It provides them with a steady stream of liquidity for housing finance, community and economic development and other needs. FHLBank is wholly funded with private capital, not taxpayer dollars. At December 31, 2006, FHLBank Pittsburgh had $77.4 billion in assets.