FHL BANK OF BOSTON AWARDS $22.1 MILLION FOR AFFORDABLE HOUSING PROJECTS
BOSTON — The Federal Home Loan Bank of Boston has awarded approximately $22.1 million in grants, loans and rate subsidies for 21 affordable housing initiatives in New England. The funds were awarded as part of the bank’s Affordable Housing Program, which seeks to create or preserve rental and for-sale housing for low-income individuals and families. The bank commits 10 percent of its net profits each year to the program, which provides funds to help pay for construction, acquisition or rehabilitation costs. In Massachusetts, $10.2 million was awarded for nine projects totaling 390 units. In Vermont, $5 million was awarded for four projects totaling 158 units. In Maine, $2 million was awarded for two projects totaling 67 units. In Connecticut, $1.8 million was awarded for three projects totaling 33 units. In Rhode Island, $1.6 million was awarded for a 10-unit project. Finally, in New Hampshire, $1.5 million was awarded for two project totaling 63 units.