Grants Given Idaho Banks For Housing

Wed., Oct. 6, 1999

Several North Idaho banks have received grants to develop low-income housing in the Panhandle.

The Federal Home Loan Bank of Seattle awarded $450,000 in grants to four Idaho financial institutions through its Affordable Housing Program.

North Idaho grant recipients are:

Bank of America received $202,971 for the Coeur d’Alene Senior Housing development. The $2.3 million project at Prairie Avenue at Heartland Drive will have 38 units, with three-fourths reserved for households at or below 50 percent of the median income. Construction began in July and is scheduled to be complete in December.

Mountain West Bank was awarded $85,065 to help 12 low-income Kootenai County families buy homes. The families will also receive home-buyer education and help with closing costs and down payments.

Pend Oreille Bank and Bank of America, F.S.B. received $100,000 to buy land in Hope, Idaho. A two-bedroom house is already on the property, and seven transitional rental units will be built there. The units are available for homeless families and single women earning less than 50 percent of median income, which is $34,500 per year for a family of four. Construction is scheduled to be complete next September.

Mountain West Bank was awarded $20,000 to help build four housing units in Rathdrum. The condominiums, built through the Habitat for Humanity of North Idaho program, will be for sale to families living in substandard or unaffordable housing, and who have an annual income between $12,000 and $20,000 for a family of four. Potential homeowners must participate in the construction.

The Federal Home Loan Bank of Seattle awarded more than $6 million in this round of grants to fund housing projects in Alaska, Hawaii, Idaho, Montana, Oregon, Utah, Washington, Wyoming, American Samoa and Guam.

Since 1990, the bank has provided $4.6 million in grants for Idaho housing developments and $65 million in grants throughout the region.

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Grants Given Idaho Banks For Housing

Jesse Tinsley

Jim Meehan

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Rob Curley

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