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 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
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
