Friday, December 19, 2008 @ 8:56:00 AM - Written by MQ
Bank of the Cascades was awarded $240,000 from the Federal Home Loan Bank of Seattle's Affordable Housing Program, that Bend Area Habitat for Humanity will use to construct 10 single family homes. Five of the homes will be sold to households earning between 35 an 60 percent of the area median income and that meet all the qualifications of Bend Area Habitat for Humanity. The other five homes will be built by Habitat volunteers and will be sold to Housing Works a local affordable housing non-profit organization. Housing Works will selll three of the five homes to families earning between 60 and 80 percent of the area median income. The remaining two homes will be sold at market value, and the proceeds will be used as a funding source for additional affordable homes.
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