Delaware Senator Tom Carper Helps Habitat for Humanity
Thursday, October 27, 2016
Wilmington, Del. October 25, 2016 – Senator Tom Carper (center with red sweater) put his homebuilding skills to work with Habitat for Humanity of New Castle County (HFHNCC) just before a ceremony today to present a $160,000 Affordable Housing Program (AHP) grant for HFHNCC’s Walnut Ridge Phase One project, which will consist of four new homes. Homeowners must complete the HFHNCC homeownership training program, including financial and construction classes enabling potential homebuyers to financially and physically take care of their homes.
The AHP funds were provided by Federal Home Loan Bank of Pittsburgh (FHLBank Pittsburgh) and its member financial institution WSFS Bank.
“Habitat for Humanity of New Castle County, together with FHLBank Pittsburgh and WSFS Bank, is doing important work: helping people earn the security of homeownership here in Wilmington,” said Senator Carper. “A home is the cornerstone of family life, and I am happy to work beside these fine people as we build hope for families in our community.”
In addition to Senator Carper, other speakers included Anas Ben Addi, Director of the Delaware State Housing Authority; Glenn Kocher, Senior Vice President, Small Business, WSFS Bank; Kevin Smith, CEO of HFHNCC; Jane C. W. Vincent, Regional Administrator, Region III, U.S. Dept. of Housing and Urban Development, and John K. Darr, who serves as a Director of both Meals on Wheels in Lewes/Rehoboth and the West Rehoboth Land Trust in Rehoboth Beach, and as Vice Chairman of the Board of FHLBank Pittsburgh.
Kevin Smith, who received a ceremonial check from WSFS Bank and FHLBank Pittsburgh, said, “Here at Walnut Ridge, as with all of our projects, our goal is to bring people together to build homes, communities and hope. Our partner, WSFS Bank, was instrumental in helping us get this grant from FHLBank Pittsburgh. On behalf of our Board of Directors, and the families that we serve, thank you to WSFS and FHLBank Pittsburgh for their generous support.”
WSFS Bank, a member of FHLBank Pittsburgh, applied for the AHP grant on behalf of HFHNCC in a competitive funding round. Underscoring the value of partnerships, Glenn Kocher said, “This is a great day for Wilmington and the families that will live in these homes. We are delighted to partner with FHLBank Pittsburgh in providing this much-needed funding to help make this project a reality.”
Annually, FHLBank Pittsburgh sets aside approximately 10 percent of its net income to fund the AHP to support projects that provide affordable housing to individuals and families whose incomes are defined as low- (51 to 80 percent of area median) or very-low (50 percent and below of area median).
John Darr discussed FHLBank Pittsburgh’s commitment to Delaware, noting that financial institutions throughout the state hold approximately $40 billion in FHLBank credit products, including advances and letters of credit, and have received approximately $17 million in AHP funds.
“Here in Delaware, AHP grants have totaled $17.2 million for 83 projects creating more than 1,750 housing units. These are profoundly important results and we achieved them together,” said Darr. He also described how the Bank works with area lenders and community groups for job creation and community vitalization. “We are proud to partner with our member institutions and sponsoring organizations to fund these vital programs. It is rewarding to see that, together, we can make a difference in quality of life, jobs and a strong local economy.”
The event was hosted at a Habitat for Humanity building site in Wilmington. Prior to the ceremony, Senator Carper joined participants, homeowners and volunteers in helping to build a portion of the home.