ATLANTA, Feb. 25 /PRNewswire/ -- Federal Home Loan Bank of Atlanta
(FHLBank Atlanta) announced today that it will award more than $5.8 million to
help finance 541 affordable housing units in North Carolina. 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 12
affordable housing developments in Davie, Iredell, Robeson, and Yadkin
counties, as well as Asheville, Boone, Hendersonville, Mocksville, Nags Head,
Red Springs, Ridgecrest, Sanford, Waves, Wilmington, and Winston-Salem.
"AHP program funding generates substantial benefits for the communities it
serves by creating not only affordable housing but also new employment
opportunities," 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.
North Carolina 2008 AHP Winners
City Project Name Member Sponsor Award Total
Units
Asheville 225 Patton HomeTrust Western Carolina $1,000,000 142
Ave Bank Rescue
Ministries
Boone Hospitality Bank of Hospitality House $550,000 11
House Granite of the
Boone Area, NC
Davie, Wesley BB&T Company Wesley Community $200,000 12
Iredell, Community Development
and Yadkin Development Corporation
Counties Corporation
Energy
Efficient
Affordable
Housing III
Henderson- Shuey Knolls HomeTrust Henderson County $172,800 24
ville Phase III Bank Habitat for
Humanity
Mocksville Rowan Pointe Bank of The Mid Atlantic $787,433 60
America Foundation
Nags Head Supportive RBC Bank Outer Banks $686,178 8
and Waves Housing Community
Development Development
Corporation Corporation
Red Springs Hawkeye Lumbee Lumbee Tribe of $1,000,000 62
Sands Guarantee NC
2008 Bank
Ridgecrest Women and HomeTrust FIRST at Blue $400,000 50
Children Bank Ridge, Inc.
First
Robeson Rural First Bank Robeson County $160,000 8
County Carolina Community
Development
Corporation, Inc.
Sanford HAVEN BB&T Company HAVEN in Lee $350,000 24
Complex County,
Inc.
Wilmington M.E. Roberts RBC Bank Leading Into New $79,404 40
II Transi- Communities, Inc.
tional Living (LINC)
Facility
Winston- Winston First State RHA/Affordable $500,000 100
Salem Summit Bank and Housing II, Inc.
Trust
Company
