Sheryl Touchton
Director of Corporate Communications
404.888.5594
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Nov
12
Federal Home Loan Bank of Atlanta Awards nearly $27 Million for Affordable Housing Development
CONTACT:
Peter E. Garuccio
Federal Home Loan Bank of Atlanta
pgaruccio@fhlbatl.com
404.888.8143
Federal Home Loan Bank of Atlanta Awards Nearly
$27 Million for Affordable Housing Development
Funding will Create, Improve, or Preserve 4,099
Affordable Rental and Homeownership Units
ATLANTA, November 12, 2020 – Federal Home Loan Bank of Atlanta (FHLBank Atlanta or the Bank) announced today that it has awarded $26,938,914 million to assist in the funding of 61 affordable housing initiatives in 19 states and the District of Columbia as part of its 2020 Affordable Housing Program (AHP). Collectively, these initiatives represent over $1 billion in total housing development.
In partnership with local for-profit and nonprofit developers, FHLBank Atlanta member financial institutions will use $27 million of AHP funds to assist in the acquisition, new construction, rehabilitation, or preservation of 4,099 affordable rental and homeownership units. For the complete list of 2020 winners, click here.
“Our Affordable Housing Program has enabled communities across our district to achieve their affordable housing and economic development objectives for 30 years,” said Arthur L. Fleming, FHLBank Atlanta’s Senior Vice President and Director or Community Investment Services. “We are proud of the positive impact our affordable housing program has had, and we know this critical source of funding will continue to play a vital role in creating safe and healthy housing.”
FHLBank Atlanta awards AHP funds annually through a competitive application process. Since 1990, FHLBank Atlanta has awarded more than $817 million in AHP Competitive grants, providing more than 129,000 housing opportunities for moderate, low-, and very low-income households.
The Bank will announce the opening of the 2021 AHP funding round in first quarter 2021. Potential applicants must work with an FHLBank Atlanta member financial institution to complete the AHP application. A list of member financial institutions is available on the FHLBank Atlanta website at www.fhlbatl.com.
FHLBank Atlanta’s 2020 AHP awards range from $30,000 to $500,000 per initiative and will be made in the following states:
|
State |
Rental Units |
Owner Units |
AHP Funds |
Total Development |
|
Alabama |
190 |
-- |
$2,000,000 |
$40,650,508 |
|
District of Columbia |
322 |
-- |
$1,000,000 |
$88,872,559 |
|
Florida |
434 |
20 |
$2,310,000 |
$95,140,167 |
|
Georgia |
257 |
9 |
$1,410,178 |
$49,859,108 |
|
Maryland |
450 |
-- |
$1,948,000 |
$117,648,058 |
|
North Carolina |
343 |
6 |
$1,990,000 |
$17,999,084 |
|
South Carolina |
196 |
-- |
$1,325,000 |
$48,338,220 |
|
Virginia |
774 |
27 |
$6,072,079 |
$182,082,075 |
|
Out of District |
1,071 |
-- |
$8,883,657 |
$361,328,450 |
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 located 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 $6.6 billion in Affordable Housing Program funds, assisting more than 957,000 households.
For more information, visit our website at www.fhlbatl.com.