Home Loan Bank Helps 30 Projects with $8.9M

By reports, and wire | Tribune-Review/Pittsburgh Tribune-Review, December 2, 2007 | Go to article overview

Home Loan Bank Helps 30 Projects with $8.9M


reports, and wire, Tribune-Review/Pittsburgh Tribune-Review


Three Pittsburgh-area housing developments are among 30 projects that will share $8.9 million in grants under the Federal Home Loan Bank of Pittsburgh's Affordable Housing Program. The Centre Avenue YMCA Housing Program, which provides housing for 75 men, will receive $500,000 toward its cost of $2.29 million for renovations. East Hills Homes will receive $490,000 toward its $8.9 million project to build 10 single-family detached houses and 20 townhouses along Bracey Drive in the East Hills area. Hosanna Industries Inc. will receive $300,000 toward development costs of $576,500 to be used to rehabilitate 100 aging housing units for very low-income families.

Banks, credit unions rated

Only four of the more than 200 credit unions in the Pittsburgh region are in less-than-adequate financial condition, said a report from Bauer Financial Inc. The Coral Gables, Fla., firm analyzes financial institutions nationally and assigns stars, from zero ("lowest") to five ("superior"). All area banks scored three stars ("adequate") or better. Trailblazer FCU, Washington, Pa., received the only single-star rating ("troubled") in the nine-county region. The credit union had about 1,600 members, $4.9 million in assets and only $11,000 in nine-month income as of Sept. 30. Officials there could not be reached. Three other area credit unions each received two stars ("problematic"): Beaver Avenue FCU, Pittsburgh; Duq Lite Employees FCU; and PNG Northern FCU, North Apollo.

Medrad plant recognized

Medrad Inc.'s Heilman Center manufacturing plan in O'Hara has been named by Industry Week magazine a 2007 Best Plant award winner. The annual award recognizes facilities that are considered on the leading edge of efforts to increase competitiveness, enhance customer satisfaction and create stimulating and rewarding work environments. The Heilman Center was one of 10 North American plants selected from about 25 finalists and more than 200 original applicants. Heilman plant employees manufacture electronic fluid delivery systems used in cardiovascular, computerized tomography and magnetic resonance diagnostic scanning and medical imaging systems.

PPG to cut energy usage

PPG Industries Inc. Wednesday said it set a goal of reducing its total energy usage by 25 percent from its 2006 usage to 2016, and its global greenhouse gas emissions by 10 percent from 2006 to 2011. Pittsburgh-based PPG had previously committed to cutting its greenhouse gas emission intensity from sources in the United States by 18 percent by 2012, from a baseline year of 2002. It achieved that mark in 2006. The company cut its energy use by more than 1 percent annually for the last five years, saving about $40 million overall.

TV alliance planned

Japanese electronics giants Matsushita, Hitachi and Canon are mulling an alliance to jointly produce next-generation flat panel displays, news reports said Wednesday. …

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