Funding to Create, Preserve 994 Affordable Rental, Homeownership Units
ATLANTA, April 3, 2008 /PRNewswire/ -- Federal Home Loan Bank of
Atlanta (FHLBank Atlanta) announced today that it will award $8.7 million
to developers in Florida for affordable housing projects. 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 994 affordable housing units in Arcadia, Avon Park, Bowling Green,
Dania Beach, Fort Lauderdale, Fort Myers, Fort Walton, Immokalee, Miami,
Naples, Okeechobee, Pahokee, Pensacola, Ruskin, Sarasota, St. Johns County,
St. Petersburg, Titusville, and Wauchula.
"We are proud to partner with these developers to create solutions that
not only provide affordable housing, but reinvigorate the community
economically," said Arthur Fleming, FHLBank Atlanta First Vice President
and Director of Community Investment Services.
Awards announced today are part of $50 million in grants and subsidies
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 over $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.
Florida - 2007 AHP Winners
City Project Name Member Sponsor Grant/ Total
Subsidized units
Loan
Arcadia Arcadia PHD RBC Centura Arcadia Housing 400,000 20
Rehab II Bank Authority
Arcadia Rosene's RBC Centura DeSoto Homeless 500,000 17
Success Bank Coalition, Inc.
House of Arcadia, FL
Avon Park Lakeside RBC Centura Avon Park Housing 350,000 16
Park I Bank Development
Corporation
Avon Park Ridgedale SunTrust Avon Park Housing 500,000 36
Rehab Bank Development
Corporation
Bowling Chester's SunTrust Hardee County 500,000/ 20
Green Pointe Bank Housing Authority 200,000
of Wauchula, FL
Bowling Old Orchard SunTrust Affordable Housing 500,000/ 50
Green Village Bank Solutions for 500,000
Florida, Inc. of
Bay Harbour
Island, FL
Dania Habitat for Regent Bank Habitat for Humanity 108,000 18
Beach Humanity of Broward
of Broward
Fort Habitat Regent Bank Habitat for Humanity 210,000 30
Lauderdale Broward of Broward of
Fort Lauderdale
Fort Myers Elmwood Bank of Affordable Housing 400,000/ 116
Apartments America Solutions for 2,744,652
Georgia, Florida, Inc. of
N.A. Bay Harbor
Island, FL
Fort Maple Crest SunTrust Affordable Housing 250,000/ 59
Myers Apartments Bank Solutions for 1,900,000
Florida, Inc.
Fort Harbour Place Branch Okaloosa Community 500,000 12
Walton Apartments Banking Development
Beach and Trust Corporation
Company
Immokalee Liberty Orion Bank Habitat for Humanity 350,000 50
Landing of Collier County,
Inc of Naples, FL
Miami St. John Regions Bank St. John Community 160,000 16
Village Development
Apartments Corporation
Naples Cirrus Branch Cirrus Pointe 500,000 16
Pointe I Banking and Partners, LLC
Trust Company
Naples Trail Ridge Orion Bank Habitat for Humanity 350,000 50
II of Collier County,
Inc. of Naples, FL
Okeechobee Laurel Oaks RBC Centura Affordable Housing 500,000 80
Bank Solutions for
Florida, Inc. of Bay
Harbour Island, FL
Pahokee Pahokee BankAtlantic NOAH Development 288,000 24
Apartments
Pensacola Englewood SunTrust Wakulla County 1,838,410 92
Senior Bank Senior Citizens
Apts. Council
Ruskin Bayou Pass Suncoast Florida Home 500,000 50
Village Schools Partnership, Inc.
Phase III Federal of Ruskin, FL
Credit
Union
Sarasota Puppy Park The Bank of Habitat for Humanity 497,000 71
Commerce Sarasota
St. Johns St. Johns Branch Habitat for Humanity 150,000 15
County County, FL Banking St. John's County
and Trust
Company
St. Peters- Grove Park Synovus Bank Boley Centers Inc. 146,721 15
burg of Tampa Bay of St Petersburg,
FL
Titusville Palmetto Branch Coalition for the 500,000 46
Ridge Patio Banking Hungry and
Homes and Trust Homeless of Brevard
Company County, Inc.
of Cocoa, FL
Wauchula Stenstrom SunTrust Affordable Housing 500,000/ 75
Road Senior Bank Solutions for 400,000
Florida, Inc. of Bay
Harbour Island, FL
SOURCE Federal Home Loan Bank of Atlanta
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Related links:
http://www.fhlbatl.com
http://www.fhlbatl.com/ahp
http://www.prnewswire.com/comp/149931.html/
CONTACT:
Sharon Cook, Federal Home Loan Bank of
Atlanta, +1-404-888-8173, scook@fhlbatl.com
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