The FHLB is also loaning $160,000 to AmSouth Bank and ASI Florence Inc. to construct a 20-unit apartment building in Florence, AL for low-income tenants.
Other partnerships in Alabama for the FHLB are Three Rivers Housing Foundation Inc. and Southland Bank, which received $116,000 for 20 lower-income homebuyers in Midland City, AL; and the Baldwin County Housing Authority and Colonial Bank, which received $50,000 for down payment and closing cost assistance for 10 low-income families in southern Alabama, the bank says in a prepared statement.
The FHBLA has invested more than $161.6 million in such projects since 1990, helping to construct 33,500 low to moderate-income housing and rental units.
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