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Home Local Maryland Government Announcement Originally published August 08, 2013

Cardin Announces $3 Million in Affordable Housing Funding for Maryland



Cardin Announces $3 Million in Affordable Housing Funding for Maryland

 

WASHINGTON – U.S. Senator Ben Cardin (D-MD) today announced that the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) will provide $3 million in funding to create greater affordable housing opportunities in Maryland.

“Every Marylander – every American – deserves a safe and affordable place to call home. Three million dollars will go a long way toward revitalizing Maryland communities by expanding affordable housing and creating quality jobs and opportunities,” said Senator Cardin, a senior member of the Senate Finance Committee. “I am proud to support investments like this, which reinforce the federal government’s commitment to affordable housing.”

Maryland community developers will partner with local FHL Bank Atlanta member financial institutions to build or repair 693 housing units in seven affordable housing developments in Baltimore City, Baltimore County, Frederick, and Cecil County through the Bank’s Affordable Housing Program. 

Southwest Baltimore’s Benet House Apartments received $450,000 to assist in the preservation and renovation of its 101-unit building for low-income seniors and disabled households. AHP funds awarded to The Parklands at Cecilton and Seton Village in Emmitsburg, will go toward building new affordable housing for Maryland residents.

“The FHLBank Atlanta mission is to help communities create affordable housing opportunities for families that need assistance,” said Wes McMullan, President and Chief Executive Officer, FHLBank Atlanta. “We are proud to partner with Maryland to address this important issue.”

FHLBank Atlanta offers community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The full listing of 2013 AHP winners is listed below:

 

Maryland 2013 AHP Winners

 



City/County

Project Name

Member

Sponsor

Award

Total Units

Baltimore, MD

 

Benet House Apartments

 

Bank of America, National Association

 

Unity Properties, Inc.

$450,000

101

Elkton, MD

 

North Street Senior Apartments

 

Branch Banking and Trust Company

 

The Community Builders, Inc.

 

$500,000

53

North East, MD

 

Riverwoods at North East, MD

 

 

Capital One, National Association

Enterprise Housing Corporation

$500,000

76

Cecilton, MD

 

The Parklands at Cecilton

 

Capital One, National Association

MBI Development Company, Inc.

 

$500,000

62

Emmitsburg, MD

 

Seton Village

 

Capital One, National Association

 

Homes for America, Inc.

 

$400,000

43

Dundalk, MD

 

Day Village

 

Branch Banking and Trust Company

 

Kent Mcap Holdings LP c/o Mcap Advisors, LLC

 

$255,555

304

Baltimore, MD

 

Hollins Place

 

Capital One, National Association

 

Enterprise Housing Corporation

 

Pax-Edwards, LLC

(Secondary sponsor)

$400,000

54