mantle bottom translucency

Latest News

Monday

Aug

08

Federal Home Loan Bank of Atlanta Awards $22 Million for Affordable Housing Development

 

CONTACT: 
Sharon Cook
Federal Home Loan Bank of Atlanta
scook@fhlbatl.com
(404) 888.8173

 

Federal Home Loan Bank of Atlanta Awards $22 Million
for Affordable Housing Development
Funding will Create, Improve, or Preserve 3,553
Affordable Rental and Homeownership Units

 

ATLANTA, August 8, 2016 — Federal Home Loan Bank of Atlanta (the Bank) announced today that it has awarded $21,988,927 to assist in the funding of 55 affordable housing projects in 16 states as part of its 2016 Affordable Housing Program (AHP). The projects represent $646,289,038 in total housing development. For every $1 dollar in AHP funding, another $28 dollars of financing was leveraged under the FHLBank Atlanta 2016 AHP.

Local for-profit and nonprofit developers, in partnership with FHLBank Atlanta member financial institutions, will use $15.9 million of the AHP funds to assist in the acquisition, new construction, rehabilitation, or preservation of 2,708 affordable rental and homeownership units in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, and Virginia. Developers with projects in states outside of the Bank’s district, including, Arkansas, California, Indiana, Louisiana, Mississippi, New Jersey, Pennsylvania, Texas, and West Virginia, will receive AHP funds totaling $6.1 million to develop 845 housing units. For the complete list of winners, click here.

“Since 1990, FHLBank Atlanta has awarded $714.6 million in AHP grants and provided 113,158 housing opportunities for moderate, low-, and very low-income households,” said Robert Dozier, FHLBank Atlanta Chief Business Officer. “We are proud to partner with our shareholders, community-based housing sponsors, and developers, to meet the credit and affordable housing needs of the communities we serve.”

FHLBank Atlanta awards AHP funds annually through a competitive application process. Applications for the 2017 AHP funding round will be accepted beginning January 3, 2017. Potential applicants must work with an FHLBank Atlanta member financial institution to complete the AHP Competitive program application. A list of member financial institutions is available on the FHLBank Atlanta website at www.fhlbatl.com.

FHLBank Atlanta’s AHP awards range from $68,000 to $500,000 per project and will be made in the following states:

State

Rental Units

Owner Units

AHP Funds

Total Development

Alabama

98

-

$500,000

$11,454,707

Florida

191

10

$1,578,353

$22,205,882

Georgia

320

10

$1,450,000

$53,001,491

Maryland

333

-

$3,068,000

$81,944,093

North Carolina

426

10

$1,920,300

$45,073,990

South Carolina

67

-

$725,000

$10,089,157

Virginia

1,204

39

$6,618,884

$191,382,875

Out of District

845

-

$6,128,390

$231,136,843

 

About the Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank's members—its shareholders and customers—-are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies headquartered in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $5 billion in Affordable Housing Program funds, assisting more than 791,000 households.

For more information, visit our website at www.fhlbatl.com.

Back to Latest News

Media Contacts

Sharon Cook 

Chief Marketing Officer

404.888.8173

scook@fhlbatl.com

 
Peter Garuccio

Assistant Director of Corporate Communications

404.888.8143

pgaruccio@fhlbatl.com