Five Oregon Affordable Housing Projects Funded

In addition to Oregon, the money is being spent on projects in Washington, Alaska, Hawaii, Idaho, Montana, Utah, Nevada, Arizona and the Pacific Islands. The housing will benefit homeless families; Native Americans, Alaskans, Hawaiians and rural workers.

The Federal Home Loan Bank of Seattle says it will invest another $6 million by the end of the year as part of its Affordable Housing Program, which is funded with 10% of the company's annual profits and awarded twice annually.

The Federal Home Loan Bank of Seattle says it has invested $89 million in this regard over the past decade, leveraging $1.5 billion in total development. The funded projects in Oregon are as follows:

Chester Street House, North Bend, OR -- Siuslaw Valley Bank was awarded a $34,995 grant to aid the Mainstream Housing, Inc.'s construction of a group home that will provide five units of housing as well as support services for people with developmental disabilities.

Fountain Court Apartments, Hermiston, OR -- Banner Bank of Oregon obtained a $78,000 grant to support the Housing Authority of Umatilla County preserve and rehabilitate 26 existing apartment units for residents with incomes at or below 50 percent of the area median income.

Gospel Rescue Mission, Grant Pass, OR -- Evergreen FS & LA was awarded a $554,000 grant to help the Gospel Rescue Mission provide new construction for 154 housing units for low-income families and individuals.

Prairiewood Apartments, McNary, OR-- Banner Bank of Oregon secured a $320,000 grant to help fund the Prairiewood Apartments, a 106-unit building sponsored by the Housing Authority of Umatilla County.

Willow Creek Terrace, Heppner, OR -- Bank of Eastern Oregon was granted $55,000 to support Willow Creek Valley Assisted Living in providing 8 newly constructed studio apartments for low-and moderate-income elderly, disabled, and homeless.