BofA to invest $10M, GE $5M in housing program in Va.

06/3/2013 | Washington Post, The · WRC-TV (Washington, D.C.)

Bank of America and General Electric will join the Virginia Housing Development Authority in investing $30 million in a housing pilot program in Prince William County, the area of Virginia hardest hit by the housing market collapse. BofA is extending $10 million in low-interest loans, and GE is investing $5 million in funds. The money will be used for the purchase and rehabilitation of about 100 blighted town houses, as well as the creation of 1,500 affordable rentals. The Virginia Housing Development Authority will invest $15 million.

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Washington Post, The · WRC-TV (Washington, D.C.)

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