BofA earmarks $100m for hurricane victims

October 7, 2005

NH Business Review Staff,

Bank of America Corp. on Wednesday said it will make $100 million available for loans and investments, much of it slated for affordable housing, in Gulf Coast areas destroyed by Hurricane Katrina.

The Charlotte, N.C.-based BofA said it will set aside $60 million in loans for the construction and redevelopment of affordable housing, and another $40 million will be tagged for tax credits for community revitalization programs.

In the near term, BofA will also open the doors to 200 apartments it owns to displaced families in Florida, Georgia, Tennessee and Texas.

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