Funding to Create, Preserve Mix of Affordable Rental, Homeownership Units
ATLANTA, March 17 /PRNewswire/ -- Federal Home Loan Bank of Atlanta
(FHLBank Atlanta) announced today that it will award more than $6.6 million
to fund 20 affordable housing developments in Alabama. The funding is part
of more than $50 million FHLBank Atlanta will award in 12 states and the
District of Columbia to support affordable housing.
FHLBank Atlanta will award the funds as part of its 2007 Affordable
Housing Program (AHP) offering. Local community developers, in partnership
with FHLBank Atlanta member institutions, will use the funding to build or
repair 950 affordable housing units in Baldwin, Colbert, Etowah, Hale,
Jackson, Lauderdale, and Mobile counties, as well as the cities of
Birmingham, Demopolis, Enterprise, Eufaula, Greensboro, Greenville,
Huntsville, Jacksonville, Luverne, Mobile, Monroeville, and Pell City.
"AHP funding not only helps bring affordable housing to high-demand
areas, but also economically strengthens entire communities by providing
employment opportunities," said Arthur Fleming, FHLBank Atlanta First Vice
President and Director of Community Investment Services.
Awards announced today are part of $50 million FHLBank Atlanta provided
in 2007 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, Federal Home Loan Bank of Atlanta has provided more than $5 billion
to member financial institutions in the form of low-cost loans and grants
for affordable housing and economic development. For the complete list of
AHP winners, visit http://www.fhlbatl.com/ahp .
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.
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 .
Alabama 2007 AHP Winners
City/County Project Name Member Sponsor Award Total
Units
Baldwin, Alabama HFH Colonial Alabama 250,000 25
Hale and Katrina Bank, Association of
Mobile Recovery National Habitat
Counties Association Affiliates
Birmingham Highland View Regions Aletheia House 500,000 39
Bank of Birmingham, AL
Birmingham The Lovelady New South Freedom Rain, 500,000 300
Center Federal Inc. of
Savings Birmingham, AL
Bank
Colbert, Alabama HFH-2 Colonial Alabama 240,000 40
Lauderdale, Bank, Association of
Jackson and National Habitat
Etowah Association Affiliates
Counties
Enterprise St. Alban's Regions BC Holdings, 325,000 40
Phase II Bank LLC of
Summerville, GA
Eufaula Deerfield Regions Paladin Inc. 215,000 40
Place Bank of Gadsden, AL
Greenville Greenville BankTrust United Hopes, 500,000 48
Terrace Inc. of
Tuscaloosa, AL
Greensboro Hale County Colonial Alabama 75,000 5
Habitat for Bank, Association of
Humanity National Habitat
Association Affiliates of
Auburn, AL
Greensboro North Ward Regions HERO, Hale 90,000 12
Bank County Housing
Resource Center
Greensboro Rammed Earth Regions HERO, Hale 25,500 3
Bank County Housing
Resource
Center
Hale Owning In New South HERO, Hale 187,500 25
Hale (Hale Federal County Housing
Empowerment Savings Resource
Revitalization Bank Center
Organization)
Huntsville Windsor Manor First AAMU Community 96,000 16
Homes American Development
Bank Corporation
Jacksonville Brookstone Bank Chimney Peak 200,000 46
Village Independent Development
Apartments Corporation of
Jacksonville, AL
Luverne Meadowcrest II BankTrust Unite Hopes, 500,000 32
Apartments, Inc. Of
Ltd. Tuscaloosa, AL
Mobile Alabama HFH Colonial Alabama 250,000 40
County Mobile County Bank, Association of
National Habitat
Association Families
Mobile Downtown SunTrust Mobile Housing 440,000 88
Renaissance Bank Board of
Mobile, AL
Mobile Church Street SunTrust Mobile Housing 60,000 6
Homeownership Bank Board of
Mobile, AL
Monroeville Mockingbird Regions BC Holdings, 280,000 56
Pointe Bank LLC of
Summerville, GA
Pell City South Hills Regions Paladin, Inc. 280,00 56
Banks of Gadsden, AL
Troy Ivy Manor Regions Paladin, Inc. 240,000 48
Bank of Gadsden, AL
SOURCE Federal Home Loan Bank of Atlanta
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Related links:
http://www.fhlbatl.com
http://www.prnewswire.com/comp/149931.html /
CONTACT:
Chris McEntee, Federal Home Loan Bank of
Atlanta, +1-404-888-8158, cmcentee@fhlbatl.com
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