The banks, all based in Birmingham, AL, are SouthTrust, Regions and AmSouth Banks. All of the funding is part of $16.8 million in Affordable Housing Program grants that FHLBA has awarded in 11 states and the District of Columbia this year. Of that amount, $9.7 million has been granted in Alabama.
The largest grant in this latest round is $500,000 to renovate a 20-year-old, US Development Administration-financed housing complex in Winfield, AL.
Andalusia, AL received $220,000 for construction of a 44-unit apartment complex for very low- and low-income, special needs elderly persons.
A $30,000 grant went to Huntsville, AL for construction of an eight-unit residential facility for people with mental health disabilities and incomes at or below 50% of the area's median income.
The remaining $252,000 is for down payment and closing-cost assistance for 40 renovated, single-family homes for very low-income families in Mobile, AL.
Alabama U.S. Senator Jeff Sessions and Raymond Christian, president of FHLBA, jointly described the grants in a prepared statement.
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