Freddie Mac and the Freddie Mac Foundation will continue their Katrina relief efforts by committing a combined $5 million to New Orleans, specifically to help rehabilitate and rebuild housing as well as provide needed resident services for many low- to moderate-income families to stabilize their lives. The company and Foundation will make investments in organizations throughout the next year to support on-going, innovative and effective efforts.
"Part of our mission is to play a stabilizing role for housing. That's why we remain committed to helping Gulf Coast residents. We recognize that access to housing for all families is critical to New Orleans future vitality," explained Ralph F. Boyd, Jr., executive vice president, Freddie Mac, and chairman, Freddie Mac Foundation. "New Orleans has pockets of outstanding affordable housing projects evolving. To propel these forward, we plan to invest in a number of the non-profits that are leading the charge."
