TUKWILA, Wash. BECU was awarded a $240,000 grant from the Federal Home Loan Bank of Seattle yesterday, which the credit union will use to subsidize homeowner downpayments for an affordable housing project in Seattle.
The funds awarded the credit union will be used to help fund mortgage assistance for eight new, single-family homes with households with incomes at or below 60% and 80% of the area median income. The homes are in the Greenbridge HomeSight project, which is part of a plan to redevelop World War II era housing into a vibrant, mixed-income community that ultimately will consist of 1,000 homes, a civic center, parks and other amenities.
The grant was among 13 totaling $3.35 million awarded yesterday by the Seattle FHLB.
