First Reliance Bank is offering $100,000 in affordable housing grants to eligible teachers and educators who work for Florence One Schools. Up to 13 $7,500 awards will granted during the program time frame through the Hometown Heroes program to assist in the revitalization and stabilization of local communities with a primary focus on encouraging home purchases by teachers.
“First Reliance Bank has access to funds for the Hometown Heroes program through grants from the Federal Home Loan Bank of Atlanta’s Affordable Housing Program,” said Rick Saunders, president and CEO of First Reliance Bank. “Teachers are the fabric of our community and contribute to the education of our future leaders. We think it’s important for our community bank to provide support and help educators with home ownership.”
“This partnership allows us to attract and recruit new teachers to Florence One Schools. We’re excited to be able to offer these grant proceeds to eligible teachers,” said Dr. O’Malley, Superintendent, Florence One Schools.
Eligibility of applicants is based on annual income, a $1,000 contribution towards down payment from the Fund applicant, specific Fund participation requirements determined by the Florence One Schools and primary mortgage financing eligibility requirements by First Reliance Bank. The agreement begins March 16, 2020 and terminates on the first anniversary, March 16, 2021. All applications must be submitted by September 13, 2020 as the Final Application Date.