Federal Home Loan Bank of Atlanta to Provide More Than $ 18 Million in Affordable Housing | Your money
ATLANTA, Nov 22, 2021 (GLOBE NEWSWIRE) – The Federal Home Loan Bank of Atlanta (FHLBank Atlanta or the Bank) announced today that it has raised $ 18,723,850 through its members to help 40 initiatives affordable housing in 12 states and the district of. Fund Colombia under its Affordable Housing Program (AHP) 2021 general fund. Collectively, these initiatives represent over $ 582 million in total housing development.
FHLBank Atlanta member financial institutions will be distributing more than $ 18 million in General Fund grants to support the purchase, construction, renovation or maintenance of 2,194 affordable rental and home ownership units. The full list of 2021 winners can be found here.
FHLBank Atlanta awards AHP funds annually as part of a competitive application process. Since 1990, the bank has provided more than $ 836 million in General Fund grants, providing more than 132,000 housing options for middle, low and very low income households.
“The General Fund awards have had a positive impact on communities in our district and many other parts of the country for more than 30 years,” said Arthur L. Fleming, senior vice president and director of Community Investment Services, FHLBank Atlanta. “We value the partnerships our members form with local for-profit and not-for-profit property developers to build and renovate healthy and affordable homes for the neediest citizens.”
The bank will announce the opening of the 2022 General Fund round in the first quarter of next year. Prospective applicants must work with a member financial institution of FHLBank Atlanta to complete the AHP application. A list of member financial institutions is available on the FHLBank Atlanta website at https://corp.fhlbatl.com/.
About the Federal Home Loan Bank of Atlanta FHLBank Atlanta provides competitive finance, community development grants, and other banking services to help member financial institutions provide affordable home mortgages and provide neighborhood and community loans for economic development. The bank’s members – its shareholders and customers – include 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, FHLBanks have given out approximately $ 7 billion in Affordable Housing Program funding, helping more than 990,000 households.
For more information, please visit our website at corp.fhlbatl.com.
CONTACT: Peter E. Garuccio Federal Home Loan Bank of Atlanta [email protected] 404.888.8143
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