Jeff Matthews, Alexandria Town Talk
GAEDA Revitalization Corporation has completed its first round of repairs to the homes of low-income seniors, made possible by an Affordable Housing Program grant in March.
GRC, which was created by the Greater Alexandria Economic Development Authority to spearhead revitalization efforts in depressed neighborhoods, has completed repairs to 10 homes. The homeowners ranged in age from 55 to 93 and had an average income of approximately $12,500 a year.
GRC plans to make a total of 50 grants with the $340,000 in funding from Red River Bank and the Federal and the Federal Home Loan Bank of Dallas. The first 10 grants, which were also made with the assistance of Capital One Bank, averaged about $7,000 per home.
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