Federal Home Loan Bank of Atlanta to Award $1.4 Million for Housing in North Carolina

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Federal Home Loan Bank of Atlanta to Award $1.4 Million for Housing in North Carolina
     Grants to Help Developers Create, Preserve 195 Affordable Rental,
                            Homeownership Units

    ATLANTA, Feb. 13 /PRNewswire/ -- Federal Home Loan Bank of Atlanta
(FHLBank Atlanta) announced today that it will award $1.4 million in grants
to help developers in North Carolina fund six affordable housing projects.
The funding is part of more than $20.9 million in grants and subsidies
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 awards
to build, buy or renovate 195 affordable housing units in Asheville,
Haywood, Jacksonville, Tabor City, Weldon Township, and Winston-Salem.
    "The Bank's AHP awards have become a vital resource for developers that
want to build or preserve housing that is affordable to North Carolina's
residents earning $20,000 to $30,000 a year," 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.
    North Carolina - 2006 Second Round AHP Winners

    City       Project       Member     Sponsor           Type  Subsidy  Total
               Name                                                      units

    Asheville  Enka Hills    HomeTrust  Asheville Area    Own   300,000     30
               Phase I       Bank       Habitat for
                                        Humanity, Inc.
    Haywood    Wesley CDC    BB&T of    Wesley Community  Own   200,000     15
               Energy        N.C.       Development
               Efficient                Corporation
               Affordable
               Homes I
    Jackson-   Emmerdale     Bank of    East Carolina     Rent  412,692     46
     ville                   America,   Community
                             Georgia    Development,
                                        Inc.
    Tabor      Forest Edge   BB&T of    Caiseal           Rent  285,000     48
     City      Apartment     N.C.       Development,
               Homes                    LLC
    Weldon     Weldon        Bank of    Community         Rent  195,000     48
     Township  Apartments    America,   Housing
                             Georgia    Resources
                                        Partners,
                                        Inc.
    Winston-   Waughtown/    Southern   Rural             Own    60,000      8
     Salem     Belview       Community  Initiative
               Preserv-      Bank and   Project, Inc.
                ation        Trust
               Project
SOURCE Federal Home Loan Bank of Atlanta
http://www.fhlbatl.com
http://www.fhlbatl.com/ahpwinners
http://www.prnewswire.com/comp/149931.html /
CONTACT:
Asia Grimes of Federal Home Loan Bank of
Atlanta, +1-404-888-8037, or agrimes@fhlbatl.com