SARATOGA SPRINGS, N.Y. (February 3, 2015) -- Saratoga National Bank and Trust Company partnered with Rebuilding Together Saratoga County on a successful grant application for funding to assist low-income homeowners.
The Federal Home Loan Bank of New York on Monday announced $300,000 for Rebuilding Together Saratoga County, which will go toward weatherization, energy efficiency and accessibility repairs for 20 low-income homeowners in Saratoga County. The efforts will focus on older homeowners, disabled individuals, families with children and active or retired members of the armed services. Additional funding for the project will come from other grants, sponsors and donors.
Saratoga National, a member of the Federal Home Loan Bank of New York, submitted the grant application on behalf of Rebuilding Saratoga. Each application must be sponsored by a member in partnership with a community-based organization.
“This grant to Rebuilding Together Saratoga County will enable critical safety- and health-related repairs to the homes of low-income residents,” said Dave DeMarco, President and CEO of Saratoga National Bank and Trust Company. “This is an important program that will help meet the affordable housing needs of our community, and we are proud to lend our support.”
The Federal Home Loan Bank of New York is one of 12 regional banks that comprise the Federal Home Loan Bank System. Together, they have distributed more than $5.1 billion in Affordable Housing Program funds since the first awards were granted in 1990. The mission of the Federal Home Loan Banks is to support the efforts of local members to help provide financing for America’s homebuyers.
More information about the FHLB of NY's grant awards can be found here.
Saratoga National Bank and Trust Company provides banking, investment, insurance and other financial services through eight locations in Saratoga and Albany counties. It is rated a 5-Star Superior institution by BauerFinancial.