The Federal Home Loan Bank of Boston awarded $30.3 million to support 48 affordable housing initiatives in the six New England states. Of this amount, $14.2 million was awarded as Affordable Housing Program grants and subsidies, with the balance coming as subsidized advances, or loans. The funds were awarded through member financial institutions to projects that will create or preserve 1,004 units of affordable rental and ownership housing for households earning at or below 80 percent of area median income. Funds awarded in the 2012 round, which range from $25,000 to $4.6 million per project, will support a wide range of initiatives. Communities are located in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.