ASO Airshares EU Carbon

AmSouth Bank (NYSE: ASO) is providing a $6.5 million loan to the Jefferson Housing Foundation to finance the redevelopment of the Beechgrove Apartment complex, which was severely damaged by the effects from Hurricane Katrina. Completion of this project is vital to helping low-to-moderate income members of the community return to their homes. Presently, 250 of the available 464 units have already been completed and are occupied, and Jefferson Housing Foundation officials believe all remaining units will be occupied as they become available. The Beechgrove Apartments complex was erected in the 1970s and consists of 36 buildings on the west bank of the Mississippi River in Jefferson Parish, La. "The over-arching objective of the Beechgrove revitalization is to provide community stability," said Elvettra Gibbs, executive director of the Jefferson Housing Foundation. "These apartments will serve numerous functions to that end, ranging from replacement housing and tenant relocation to the creation of a mixed-use and mixed-income community." According to Gibbs, the Beechgrove Apartment complex is adjacent to two single-family residential neighborhoods. On one side of the complex is the Claiborne Gardens subdivision and on the opposite side is Harbor Estates subdivision. These neighborhoods are also low- to moderate-income communities. "With the current condition existing throughout the west bank of Jefferson Parish, there exists a unique opportunity to plan, design, and build several communities, while revitalizing Beechgrove." "This redevelopment initiative addresses the strong need for safe, decent, and affordable shelter in New Orleans - at a time when it couldn't be more important," said Suzanne Mestayer, AmSouth south Louisiana head. "AmSouth is pleased to play a role in helping bring this effort to completion so hundreds of city residents can once again have a place to call home." According to the Jefferson Housing Foundation, construction should be complete by mid-summer. For more information on the project, contact Elvettra Gibbs at 504.340.5809. About AmSouth AmSouth is a regional bank holding company with over $52 billion in assets, more than 680 branch banking offices and more than 1,200 ATMs. AmSouth operates in Florida, Tennessee, Alabama, Mississippi, Louisiana and Georgia. AmSouth is a leader among regional banks in the Southeast in several key business segments, including consumer and commercial banking, small business banking, mortgage lending, equipment leasing, and trust and investment management services. AmSouth also offers a complete line of banking products and services at its web site, www.amsouth.com.