Santorum Addresses Federal Home Loan Bank of Pittsburgh Forum on Affordable Housing

PALMYRA, Pa. – U.S. Sen. Rick Santorum (R-Pa.), a member of the Senate Banking, Housing and Urban Affairs Committee, addressed attendees at a forum hosted by the Federal Home Loan Bank of Pittsburgh on affordable housing and community development on July 6. Joining Santorum were officials of the Pennsylvania Housing Finance Agency (PHFA) including EVP Brian Hudson; leaders of housing and redevelopment authorities in Lancaster, Lebanon and Reading, as well as the counties of Berks, Cumberland, Dauphin, Lancaster and Lebanon; and John Bendel, director of Community Investment at the FHLBank. Santorum briefed attendees on the status of federal funds for affordable housing and Community Development Block Grants. As part of its Affordable Housing program, the FHLBank has awarded more than $10.5 million in affordable housing grants for 76 projects encompassing 2,250 units of housing and has also extended down payment and closing cost assistance to first time homebuyers for the purchase of 481 homes in seven counties across the state. In addition, the Bank has committed more than $1.6 million in funding through its Banking on Business program and $36.9 million under its Community Lending program in the same area.