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Washington, D.C. – U.S. Senator Mike Enzi, R-Wyo announced an early gift today – $800,000 in grants – to support low-income housing initiatives in Douglas and Lovell and for the Northern Arapaho Tribe on the Wind River Indian Reservation.

"Smaller communities are often overlooked when housing and economic development funds are dispersed. I am pleased to announce three great projects that will help Wyomingites that have these concerns," said Enzi. "These grants will help individuals meet home ownership goals like those set forth at the Native American housing summit this past August."

The funding comes from the Federal Home Loan Bank of Seattle, which invests 10 percent of its earnings every year to projects that create affordable homes and apartments or support job growth. This year, the Federal Home Loan Bank of Seattle contributed $12 million to these initiatives.

"We help local banks help their communities," said Erik Strom, director of external affairs for the Federal Home Loan Bank of Seattle. "Our grants and discounted loans are catalysts that we hope will spark more private investment in projects like these that really open doors for people who have been shut out."

More than 90 individuals and families in Wyoming will benefit from the projects that received the grants. Grant recipients:

• The Northern Arapaho Tribal Housing Council will receive $250,000 to build 25 apartments for low-income families. Five apartments are for families with special needs. Wells Fargo Bank, Wyoming co-sponsored the application.

• The Wyoming Housing Opportunities Association received a $139,980 grant to help fund 20 homes for low- and moderate-income families in Lovell. Teachers, many of whom commute long distances, will benefit from the addition of affordable three-bedroom homes. First National Bank and Trust of Powell co- sponsored the application.

• A $412,243 grant will help a Boise-based development company renovate a low-income housing complex in Douglas. Plans call for total renovation that will create 48 two-bedroom town homes. Tenants will have access to job training and can learn the basics of personal finance. The developers, Conestoga Village Limited Partnership, saved the property from being converted to market-rate and the tenants from homelessness. Wells Fargo Bank co-sponsored the application.

"Getting this grant from the Federal Home Loan Bank is going to help us in Lovell to provide many homes in a way that is affordable. This is a good day for the people of Lovell and throughout the state," said Don Erickson of Wyoming Housing Opportunities Association, Inc.

"This will enable us to complete our 20 units and to also rehabilitate five more units to provide housing for people with special needs," said Frank Armajo, executive director of the Northern Arapaho Tribal Housing Council.

"The Federal Home Loan Bank has been a tremendous resource all over the country and without this program a lot of people would be living in very bad conditions compared to what they are now," said Gary Machacek of Conestoga Village Limited Partnership, Inc.

The Federal Home Loan Bank of Seattle awards grants to member banks and their community partners twice annually. The next application deadline is April 1, 2002. For more information visit, www.fhlbsea.com or call 1-800-973-6223.

With $45 billion in assets, the Federal Home Loan Bank of Seattle builds financial partnerships that help local banks make communities better places to work. The Seattle Bank provides funding and other financial services that allow its nearly 400 financial institution members make more housing and business loans at more competitive rates. The Seattle Bank is a member-owned cooperative and the value generated by the company, including its earnings of $139.4 million in 2000, benefits member banks and the communities they serve.