FHLB of New York Awards Grant for Low-Income Senior Housing in Puerto Rico

February 15, 2014 Maria Morales In the News

José A. Rivera-Urrutia

José A. Rivera-Urrutia

A $400,000 grant was awarded by the Federal Home Loan Bank of New York to Pathstone, Inc. The money will be used to finance a new building project which will provide 32 apartments for extremely low-income seniors. Doral Bank, which is a member of the Federal Home Loan Bank of New York, is the entity that submitted the application for the loan. The project, which will be built in Utuado in Puerto Rico will be known as the Valle Dorado will construct one five-story building consisting of one-bedroom units, two of which will be handicapped accessible.

“We are very satisfied that the application that we submitted for the funding was accepted. Doral Bank is always committed to supporting our communities, especially low and moderate income. By partnering with PathStone, a reputable community organization who has dedicated his time on helping the community by providing housing needs much needed, we are able to provide safe and secure housing for adults over 32 low-income residents in a rural area of PR” said Doral Bank’s CRA Manager, José A. Rivera-Urrutia.

Doral Bank, Federal Home Loan Bank of New York, José A. Rivera-Urrutia, Pathstone, Puerto Rico,

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