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Affordable housing – Elderly also targeted

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Delivering affordable housing to low- and middle-income Americans and poor elderly people are the focus of two new initiatives.

Fannie Mae and the Enterprise Foundation are teaming up to invest $725 million over five years in affordable housing, neighborhood safety and access to jobs and child care for tens of thousands of low- and middle-income families.

The effort is part of Fannie Mae’s $2 trillion initiative to serve 18 million families through the end of the decade.

Separately, the Robert Wood Johnson Foundation and the NCB Development Corp. have teamed up to develop and promote affordable assisted living for poor elderly.

The foundation in December 1999 invested $6.5 million in the project, and NCB Development Corp. now has used $2.4 million of those funds to make three-year grants to eight states – Alaska, Arkansas, Florida, Iowa, Maine, Vermont, Washington and Wisconsin.

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