Receiving grants were First Bank and Habitat for Humanity of Moore County, Aberdeen, NC, $235,000; Bank of America, Georgia and Hospitality House of Boone Area, Inc., Boone, NC, $191,500; AmSouth Bank and the Affordable Housing Group, Franklin, NC, $432,000; First Union Direct Bank and Sierra Christian Center Churches International, Hamlet, NC, $154,000.
Also: SunTrust Bank, Atlanta and Hendersonville Housing Authority, Hendersonville, NC, $200,000; Bank of America, Georgia and DHIC, Inc., Raleigh, NC, $96,747; Centura Bank and Ebenezer Baptist Church, Rocky Mountain, NC, $350,000; First Union Direct Bank and DHIC, Inc., Siler City, NC, $296,398; and BB&T of North Carolina and Housing Economic Opportunity, Inc., Wilmington, NC, $500,000.
Twice a year under the Federal Home Loan Bank's affordable housing program, community based organizations join with financial institutions to compete for the grants.
The grants fund low-income, single-family and multifamily housing development, and are awarded based on a project's target demographic, its economic diversity and the grant subsidy used per unit.
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