The Fund’s Single-Family Program broke all records, loaning $90,000,000 in four months at the lowest rate to date of 6.50%. The Fund purchased approximately $4,000,000 in existing business loans from the West Virginia Economic Development Authority. On its first stand-alone competitive bond issue for its $10,600,000 1992 Housing Finance Bonds (FAF Multifamily Project Refunding), the Fund received a rating of AA+ from Standard and Poor’s Corporation. The Fund funded its first infrastructure projects: $800,000 for the water line extensions for the FBI (KGS) Center and $875,000 for the Fairmont Industrial & Credit Corporation for site preparation.
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Rates mentioned in news posts may not reflect current rates.