Van Hollen, Cardin Announce $500,000 for Affordable Housing Funding in Prince George’s County
U.S. Senators Chris Van Hollen and Ben Cardin (both D-Md.) have announced $500,000 in federal funding for affordable housing in Prince George's County. The funding - which comes from the Federal Home Loan Bank of Atlanta - will be used by Montgomery Housing Partnerships, Inc. with Enterprise Community Loan Fund, Inc. to renovate and expand the Parkview Manor development in Hyattsville. Renovations will create new handicap-accessible units and incorporate sustainability features in existing units, among other improvements.
"The funding announced today will not only create affordable housing opportunities for those who need it the most - it will also spur economic development and create jobs in the Hyattsville area,"said Senator Van Hollen, a member of the Senate Appropriations Committee."Affordable housing must be a priority as we work to create opportunity for all Marylanders, and I'll continue to fight for programs that put decent, safe, affordable housing within in reach for hardworking families."
"Every Marylander - every American - deserves a safe and affordable place to call home. This federal investment in Maryland's communities comes as good news for families having trouble finding and maintaining affordable housing," said Senator Cardin, a member of the Senate Finance Committee. "The funding will help revitalize a growing Prince George's County neighborhood all while creating well-paying, local construction jobs. That's the very definition of a smart investment."
"The Affordable Housing Program helps our members work with their local communities to boost economic development and create jobs," said Robert Dozier, Executive Vice President and Chief Business Officer, FHLBank Atlanta. "We are proud to partner with Senators Cardin and Van Hollen to help make a real difference for Maryland families."
Federal Home Loan Bank of Atlanta is one of 11 district banks in the Federal Home Loan Bank System (FHLBanks). Since 1990, they have awarded funding to support 193 rental and homeownership projects in Maryland, creating or rehabilitating 10,544 units of quality, affordable housing. That translates into $1.2 billion in residential development.
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