Funding to Create, Preserve 669 Affordable Rental, Homeownership Units
ATLANTA, Feb. 6 /PRNewswire/ -- Federal Home Loan Bank of Atlanta
(FHLBank Atlanta) announced today that it will award $6.9 million in grants
and subsidies to developers in Florida for affordable housing projects. The
funding is part of more than $20.9 million FHLBank Atlanta will award in 12
states and the District of Columbia.
FHLBank Atlanta will award the funds as part of its 2006 Affordable
Housing Program (AHP) second round offering. Local community developers, in
partnership with FHLBank Atlanta member institutions, will use the funding
to build or repair 669 affordable housing units in Arcadia, Fernandina
Beach, Immokalee, Lake, Orange and Sumter counties, Marianna, Martin,
Naples, Okeechobee, Pembroke Pines, Pompano Beach, Putnam County, Santa
Rosa, Sarasota, Sebastian, and St. Petersburg.
"We're happy to see that developers are using AHP funds to find
creative solutions to increase Florida's limited supply of affordable
housing," said Lynn Brazen, FHLBank Atlanta director of Community
Investment Services.
Awards announced today are part of $40.2 million in grants and
subsidies FHLBank Atlanta provided in 2006 to create or preserve more than
6,000 units of affordable housing. AHP is a competitive grant program that
helps develop owner-occupied and rental housing for very low-, low-, and
moderate-income families. Since 1990, FHLBank Atlanta has contributed more
than $300 million to support affordable housing production and preservation
in the Southeast. For the complete list of winners, visit
http://www.fhlbatl.com/ahpwinners.
About FHLBank Atlanta
FHLBank Atlanta offers low-cost 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,
thrifts, 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
$2 billion to affordable housing development in the United States.
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.
Florida - 2006 Second Round AHP Winners
Total
City Project Name Member Sponsor Type Award units
Centreville CountryWood The Peoples United Rent 500,000 40
Apartments Bank & Trust Hopes, Inc.
Company
Columbiana SafeHouse Regions Bank The SafeHouse Rent 120,000 8
of Shelby of Shelby
County- County, Inc.
Transitional
Housing
Daphne Laurel First National Gateway Rent 240,000 56
Springs Bank of Construction
Apartments Baldwin County Corp.
Demopolis Riverside The Peoples United Rent 500,000 40
Apartments Bank & Trust Hopes, Inc.
Company
Fort Payne Willow Compass Bank Community Rent 490,000 56
Springs Action
Agency of
Northeast
Alabama, Inc.
Gordo Gordo Garden Regions Bank Community Rent 156,000 24
Apartments Action
Partnership
of North
Alabama
Jefferson Jefferson Regions Bank Jefferson Own 500,000 100
County Rural Co. Comm.,
Rehabilitation Office of
Community
Development
Mobile Mobile Regions Bank Accessible Rent 95,000 20
Supportive Space, Inc.
Housing
Moundville Mound Plaza Regions Bank Community Rent 156,000 24
Apartments Action
Partnership
of North
Alabama
Reform Reform Manor Regions Bank Community Rent 156,000 24
Apartments Action
Partnership
of North
Alabama
Scottsboro Crawford Regions Bank Community Rent 350,000 40
Park Action
Agency of
Northeast
Alabama, Inc.
Selma Addison Way Regions Bank Volunteers Rent 240,000 120
Apartments of America & 1.9
Southeast million
subsidy
Thomasville Willow Crest Regions Bank Volunteers Rent 200,000 40
Homes of America & 630,297
Southeast subsidy
Tuskegee Lakeshore The Peoples United Rent 500,000 34
Apartments Bank & Trust Hopes, Inc.
Company
SOURCE Federal Home Loan Bank of Atlanta
back to top
