Article published January 24, 2008
YWCA plans low-income downtown apartments
The YWCA of Greater Toledo plans to break ground this summer for a $10.1 million project that will result in 65 new downtown apartments and efficiencies for low-income women and children, including some who currently are homeless.
Another major piece of the financial puzzle came together yesterday when the agency learned Huntington National Bank received a $650,000 grant for the project from the Federal Home Loan Bank of Cincinnati, a private shareholder-owned corporation required by Congress to earmark 10 percent of its profits for affordable housing.
Lisa McDuffie, YWCA president and chief executive officer, said the units will be built in the agency's existing five-story building and a five-story building the YWCA plans to construct next to it.
All other services provided at the YWCA's main building, 1018 Jefferson Ave., will remain intact, she said. "Our goal is to really seriously look at the issue of homelessness in our community," Ms. McDuffie said. "This is simply an expansion."
The agency has raised most of the remaining money for the project through sales of tax credits and a combination of other grants, including $400,000 from the city of Toledo.
The Federal Home Loan Bank of Cincinnati said it issued more than $16 million of affordable-housing grants yesterday to 40 of its member financial institutions in Ohio, Kentucky, and Tennessee.
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