In Amesbury, Massachusetts, Simple Living, Inc., is sponsoring the rehabilitation of a vacant nursing home into an 18-unit supportive housing facility for very low-income, homeless women recovering from substance abuse.

In the first funding round of the 2005 Affordable Housing Program (AHP), the Federal Home Loan Bank of Boston (the Bank) awarded over $8.5 million in grants and subsidies for 12 initiatives. These projects
will result in 361 units of affordable housing across New England.

Nine of the 12 approved developments will create or preserve 345 rental units, while the remaining three will create 16 homeownership units. The average subsidy per approved application was $385,173, an increase from last round's average of $311,637. The average subsidy per unit was $12,804.

This round included an initiative to create 32 one-bedroom rental units for handicapped seniors in Guilford, Connecticut. Sponsored by Guilford Housing Authority, 20 units are intended for very low-income elderly and 12 units will be open to seniors at 61 to 80 percent of area median income. Services include Meals on Wheels and a visitation program; medical equipment and supplies will be available to all residents through the Medical Closet.

In Amesbury, Massachusetts, Simple Living, Inc., is sponsoring the rehabilitation of a vacant nursing home into an 18-unit supportive housing facility for very low-income, homeless women recovering from substance abuse. Supportive services will include transportation assistance, health care, and substance-abuse counseling to help residents become self-sufficient.

The Bank has set aside more than $4.2 million in subsidy funds to award in the second 2005 AHP funding round. The application period closes on September 30, 2005, at 5:00 p.m., and the winning initiatives will be announced on the Bank's web site, www.fhlbboston.com, at the end of November as well as in the next edition of Tools.