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PACE Enterprises awarded FHLP-AHP grant

PACE Enterprises was recently awarded $750,000 from the Federal Home Loan Bank of Pittsburgh as part of the Affordable Housing Program.

It will help fund the PACE Place Project.

PACE Place will be a one-of-a-kind, 12-unit independent housing facility in Star City for individuals with disabilities.

The additional voluntary pool of funding for 2023, which is separate and distinct from FHLBank’s required, statutory AHP, is provided to address the critical housing needs within FHLBank’s district. The Board of Directors of FHLBank approved $24.6 million in awarded grants under the AHP and $8 million in awarded grants through a voluntary housing grant initiative.

Greg Morris, CEO of PACE said, “This is the next step in a very important and necessary project for those with disabilities in the Morgantown area. The funding will help kick-start the construction, but we will continue to look for additional opportunities to aid in the building process that should start in early 2024.”

Morris said there are numerous people to thank for supporting this project.

“There are so many individuals to thank, but I feel the need to mention the members of the Widmer and Prete families who initiated the project by gifting the property to our organization. I also would like to thank Terri Cutright of Terri Reed Cutright & Associates and Brad Frankhouser of Desmone Architects for their help in the arduous application process.”