ATLANTA, March 4 /PRNewswire/ -- Federal Home Loan Bank of Atlanta
(FHLBank Atlanta) announced today that it will award more than $4 million to
help finance 603 affordable housing units in South 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 10
affordable housing developments in Aiken, Allendale, Barnwell, Berkeley,
Charleston, Clarendon, Darlington, Dorchester, Edgefield, Kershaw, Lee,
Lexington, Orangeburg, Richland, Saluda, Sumter, and Williamsburg counties, as
well as the cities of Bluffton, Kingstree, Myrtle Beach, and North Augusta.
"AHP program funding provides an important economic boost to entire
communities by creating affordable housing and jobs in those areas that need
it most," 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.
South Carolina 2008 AHP Winners
City/County Project Member Sponsor Award Total
Name Units
Aiken, Community First Community $750,000 100
Allendale, Development Citizens Development
Barnwell, and Bank and and Improvement
Edgefield, Improvement Trust Corporation
Lexington, Corporation Company,
and Saluda Rural Inc.
Counties Initiative
Berkeley, United First United $105,000 18
Charleston, Methodist Citizens Methodist
and Relief Bank and Relief Center
Dorchester Center Trust
Counties Charleston, Company,
Berkeley, Inc.
Dorchester,
SC
Bluffton Hallmark RBC Bank United Housing $400,000 32
Homes at Associates,
Malphrus Inc.
Clarendon, Santee- First Santee-Lynches $600,000 125
Darlington, Lynches Citizens Affordable
Kershaw, Community Bank and Housing and
Lee, Development Trust Community
Sumter, and Corporation Company, Development
Williamsburg Rehab 09 Inc. Corporation
Counties
Kingstree Kings BB&T Southeastern $156,190 24
Square II Company Housing
Preservation,
Inc.
Lee and Sumter First Sumter County $231,250 25
Sumter County Citizens Community
Counties Community Bank and Development,
Development Trust Inc.
Corporation Company,
- Lee and Inc.
Sumter
Rehabilitation
Project
Myrtle Halyard RBC Bank Grand Strand $632,176 48
Beach Bend Housing and
Community
Development
North North First State RHA/Affordable $500,000 101
Augusta Augusta Bank and Housing II,
Gardens Trust Inc.
Company
Orangeburg Northeastern SCBT, N.A. Northeastern $172,500 20
County Corridor Corridor Corridor of
of of Orangeburg
Orangeburg- Orangeburg- Community
Community Community Development
Development Development Corporation
Corporation Corporation
Rehabilitation Rehabilitation
Project Project
Richland Community Carolina Community $500,000 110
County Assistance First Bank Assistance
Provider Provider,
Rehab 08 Inc.
