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Press Release

Contact:  
Debra Herndon, City Manager, 304-592-5631
Neil Cotiaux, FHLBank Pittsburgh: 412-335-9488, Neil.cotiaux@fhlb-pgh.com

Shinnston is Awarded Mini-Grant for Blueprint Communities Project

Pittsburgh, PA, January 4, 2012 – The Blueprint Communities initiative of the Federal Home Loan Bank (FHLBank) of Pittsburgh has awarded Shinnston an $11,000 mini-grant. The grant will be used for pre-acquisition costs associated with the purchase of an existing downtown structure.   

The G.C. Murphy building is the largest structure in the Shinnston historic downtown. Unfortunately, the building has stood empty for a decade, and in its current configuration is unlikely to see redevelopment. The purpose of this project is to conduct a feasibility study to determine if the property is a good prospect for the City of Shinnston to acquire and develop into a mixed-use building with a business incubator on the ground floor. The City of Shinnston has been successful in attracting new businesses to the historic downtown, and there is now a need for smaller, affordably priced retail units. The grant funding will provide for title search, survey, architectural overview of the building, identification of best uses of the property and development of a business plan. 

Earlier this year, FHLBank invited active Blueprint Communities in Pennsylvania and West Virginia to submit project applications as part of a competitive mini-grant funding process. Projects were evaluated for their ability to expand the capacity of Blueprint teams, leverage dollars, and positively impact the community. Of 16 applications received, six projects were awarded a total of $63,000.

The Blueprint Communities effort in Shinnston is spearheaded by a committee made up of business, civic, and governmental leaders. The group was formed in 2007 as one of ten original Blueprint Communities across the state. The  initiative was created to help civic leaders in older, smaller communities develop enhanced leadership skills, create greater capacity to enact positive change, and formulate a fresh vision and strategy to meet pressing community needs. Blueprint Communities is expected to serve as an ongoing catalyst for projects of local importance.

FHLBank Pittsburgh is a wholesale bank that serves the housing finance and community and economic development needs of its owner-members. FHLBank Pittsburgh provides reliable access to low-cost funds, competitive pricing in the purchase of mortgage loans, correspondent banking, technical assistance, affordable housing grants and other programs so members can better serve their own communities. FHLBank Pittsburgh is privately capitalized and funded and does not use taxpayer dollars. As of September 30, 2011, the Bank had 300 members in its district of Delaware, Pennsylvania and West Virginia and held approximately $47 billion in assets. FHLBank Pittsburgh is one of twelve Banks in the Federal Home Loan Bank System, established by Congress in 1932 to support the residential mortgage activities of local financial institutions.