ATLANTA Feb. 11
ATLANTA, Feb. 11 /PRNewswire/ -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it will award more than $12.4 million to help finance 1,359 affordable housing units in Georgia. The funding is part of more than $43 million FHLBank Atlanta will award in ten states to create or preserve 4,514 units of affordable housing.
FHLBank Atlanta will award the funds as part of its 2008 Affordable Housing Program (AHP) offering. Local community developers, in partnership with FHLBank Atlanta member institutions, will use the awards to fund 18 affordable housing developments in Bleckley, Butts, Cobb, Crawford, DeKalb, Dodge, Fulton, Henry, Houston, Jones, Lamar, Laurens, Monroe, Montgomery, Peach, Pike, Pulaski, Spalding, Telfair, Treutlen, Twiggs, Upson, Wheeler, and Wilcox counties, as well as Atlanta, Bowdon, Cordele, Decatur, Donalsonville, Dublin, and Rabun Gap.
"AHP program funding has positive far-reaching effects for the communities it serves by providing a source of affordable housing and new jobs, which stimulates the local economy," said Arthur Fleming, first vice president and director of Community Investment Services, FHLBank Atlanta.
AHP is a competitive funding program that helps develop owner-occupied and rental housing for very low-, low-, and moderate-income families. FHLBank Atlanta awards the funds annually to member financial institutions and their community housing partners. AHP is a component of FHLBank Atlanta's affordable housing, economic development, and down-payment assistance initiatives. For the complete list of AHP winners, visit http://www.fhlbatl.com/ahp .
About FHLBank Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help more than 1,200 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, thrift and loans, and insurance companies headquartered in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 12 district banks in the Federal Home Loan Bank System which since 1990 has contributed more than $3 billion to the Affordable Housing Program.
Some of the statements made in this press release may be "forward-looking statements," which include statements with respect to the Bank's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, many of which may be beyond the Bank's control, and which may cause the Bank's actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements.
The forward-looking statements may not be realized due to a variety of factors, including: future economic and market conditions; changes in demand for advances or consolidated obligation; changes in interest rates; legislative and regulatory changes; political, national and world events; and adverse developments or events affecting or involving other FHLBanks or the FHLBank System in general. Additional factors that might cause the Bank's results to differ from these forward-looking statements are contained in the Bank's annual and quarterly reports, available on the Bank's website at http://www.fhlbatl.com/ .
| Georgia 2008 AHP Winners |
|
| City Project Name Member Sponsor Award Total |
| Units |
| Atlanta Donnelly BB&T Company Atlanta Mutual $1,000,000 161 |
| Manor Housing |
| Apartments Association, Inc. |
|
| Atlanta Santa Fe Capitol City Urban Residential $1,000,000 147 |
| Villas Bank Development |
| and Trust Corporation |
| Company |
|
| Atlanta The Safety SunTrust Bank CHRIS Kids $315,000 35 |
| Net |
|
| Atlanta Welcome SunTrust Bank Progressive $550,000 209 |
| House Redevelopment, |
| Inc. |
| Bleckley, Rural Colony Bank Middle Georgia $324,000 118 |
| Butts, Housing Community |
| Crawford, Preservation Action Agency, |
| Dodge, Inc. |
| Houston, |
| Jones, |
| Lamar, |
| Laurens, |
| Monroe, |
| Montgomery, |
| Peach, |
| Pike, |
| Pulaski, |
| Telfair, |
| Treutlen, |
| Twiggs, |
| Upson, |
| Wheeler, and |
| Wilcox |
| Counties |
|
| Bowdon Carroll Sunrise Bank Southern Housing $1,000,000 48 |
| County of Management and |
| Housing Atlanta Development, Inc. |
| Cooperative |
|
| Cobb Marietta New South Housing Authority $457,500 30 |
| County Housing Federal of the |
| Authority Savings Bank City of Marietta |
| Homeownership |
| 2008 |
|
| Cordele Christian Ameris Bank Rural Community $30,000 3 |
| Homes Improvement |
| Redevelopment Corporation, |
| Inc. |
|
| Cordele Rosewood SunTrust The Paces $650,000 50 |
| Estates Bank Foundation |
|
| Decatur Delano Place SunTrust Progressive $500,000 45 |
| County Apartments Bank Redevelopment, |
| Inc. |
|
| DeKalb Senior Fidelity Senior $1,000,000 75 |
| County Connections Bank Connections |
| 08-DeKalb/ |
| Fulton |
| Urban |
| Rehabilitation |
|
| DeKalb Senior SunTrust Senior $1,000,000 75 |
| County Connections Bank Connections |
| 08-DeKalb |
| Urban |
| Rehabilitation |
|
| Donalsonville Friendship BB&T Company Partnership $375,000 34 |
| Crossings Housing |
| Affordable to |
| Society |
| Everywhere, Inc. |
|
| Dublin Shannon SunTrust The Paces $640,642 50 |
| Estates Bank Foundation |
|
| Fulton Senior SunTrust Senior Citizens $1,000,000 90 |
| County Citizens Bank Services of |
| Services Metropolitan |
| FULTON Atlanta, Inc. |
| 2008 |
|
| Fulton Senior SunTrust Senior $1,000,000 75 |
| County Connections Bank Connections |
| 08-Fulton |
| Urban |
| Rehabilitation |
|
| Rabun Gap Valley Manor SunTrust The Paces $594,766 43 |
| Bank Foundation |
| Spalding SHIP The Park Community $994,000 71 |
| and Henry Spalding Avenue Committed to |
| Counties Bank Character |
CONTACT: Sharon Cook, Federal Home Loan Bank of Atlanta, +1-404-888-8173,
scook@fhlbatl.com
Web site: http://www.fhlbatl.com/
Company News On-Call: http://www.prnewswire.com/comp/149931.html
SOURCE Federal Home Loan Bank of Atlanta
http://www.prnewswire.com
Copyright 2009 PR Newswire Association LLC. All Rights Reserved.
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