The PennHomes multifamily development loan goes to Zaccaeus Corp., an affiliate of Catholic Social Services of the Scranton, PA diocese and a general partner in the project. When the rehabilitation is complete, the value of the property will total approximately $3 million. Catholic Social Services will lease the fourth floor of the building to operate a youth shelter.

The remainder of the financing comes from several sources. Luzerne County offers a $450,000 loan from its Home Investment Partnership program. The state's department of community and economic development provides a $200,000 emergency shelter grant loan. HUD commits $602,726 in Supportive Housing program funds. Guaranty Bank, NA. provides a $150,000-loan under the Federal Home Loan Bank Affordable Housing program, and Community Bank & Trust provides an equity contribution of $531,134 from the sale of historic rehabilitation tax credits authorized by the state's neighborhood assistance tax credit program.

Wilkes-Barre, PA based Ralph J. Melone and Panzitta Enterprises are the architect and general contactor, respectively, for the project.