Funding to Create, Preserve 1,352 Affordable Rental, Homeownership Units
ATLANTA, April 9 /PRNewswire/ -- Federal Home Loan Bank of Atlanta
(FHLBank Atlanta) announced today that it will award $9.2 million in
Georgia to help finance 1,352 affordable housing units. The funding is part
of more than $50 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 2007 Affordable
Housing Program (AHP) offering. Local community developers, in partnership
with FHLBank Atlanta member institutions, will use the awards to fund 26
affordable housing developments in Bainbridge, Baker, Blakely, Calhoun,
Clarke, Cobb, Colquitt, Dekalb, Early, Fulton, Grady, Henry, Lee, Miller,
Mitchell, Oglethorpe, Seminole, Terrell, Thomas, and Worth Counties, as
well as Athens, Atlanta, Augusta, Decatur, Fort Gaines, Norcross,
McDonough, Pembroke, Savannah, and Thomaston.
"AHP program funding provides more than just affordable homes -- it
provides a source of economic stimulation in these communities through the
creation of job opportunities," 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 .
Georgia 2007 AHP Winners
City Project Name Member Sponsor Grant Total
units
Athens People of First Athens Land 464,443 40
Hope American Trust, Inc.
Manufactured Bank & Trust
Housing Company
Community
Atlanta Atlanta SunTrust Habitat for 350,000 70
Habitat Bank Humanity of
for Humanity Atlanta, Inc.
2007
Atlanta Hillside SunTrust RBC Development, 450,000 38
Apartments Bank LLC of
Decatur, GA
Atlanta Seven Courts SunTrust Progressive 500,000 171
Apartments Bank Redevelopment,
Inc.
Atlanta Vine City Bank of Reynoldstown 500,000 56
Apartments America Revitalization
Georgia, N.A. Corporation
Augusta Cedarwood SunTrust Progressive 500,000 184
Apartments Bank Redevelopment,
Inc.
Bainbridge Emerald Branch Partnership 350,000 25
Glade Banking & Housing
Trust Company Affordable to
Society
Everywhere, Inc.
Baker, Southwestern Southwest Southwest Georgia 420,000 70
Calhoun, Georgia Georgia Bank Community Action
Colquitt, Housing Council, Inc. of
Decatur, Rehabilita- Moultrie, GA
Early, tion
Grady, Project
Lee,
Miller,
Mitchell,
Seminole,
Terrell,
Thomas, and
Worth
Counties
Blakely Blakely SunTrust RHA- Housing, 500,000 64
Commons Bank Inc.
Clarke and Neighborhood AFB&T Athens Area 64,000 16
Oglethorpe Revitaliza- Habitat for
Counties tion Humanity
Projects
Cobb Harbour Oaks Branch Atlanta Mutual 500,000 80
(unincorpo- Apartments Banking & Housing
rated) Trust Company Association, Inc.
Cobb and Senior United Senior 500,000 50
Gwinnett Connection Community Connections of
Counties Urban Bank Chamblee Georgia
Rehabilita-
tion
Decatur Allen Wilson Fidelity Bank Housing Authority 500,000 40
Terrace of the
Phase I City of Decatur
DeKalb Senior United Senior 500,000 50
County Connections Community Connections of
Urban Bank Chamblee, GA
Rehabilita-
tion
Fort Gaines Pepper Ridge Regions Bank Southwest Georgia 360,000 36
II Housing
Development
Corporation
Fulton Senior United Senior 500,000 50
County Connection Community Connections of
Fulton Urban Bank Chamblee, GA
Rehabilita-
tion
Greensboro Building a BankSouth Greene County 334,134 6
Village Habitat
for Hopes, for Humanity of
Lives Greensboro, GA
and Dreams
Henry County SHIP Hampton The Park Community 70,000 7
Avenue Committed
Bank to Character
Henry County SHIP Locust The Park Community 70,000 7
Grove Avenue Committed
Bank to Character
Henry County SHIP The Park Community 70,000 7
McDonough Avenue Committed
Bank to Character
Henry County SHIP The Park Community 70,000 7
Stockbridge Avenue Committed
Bank to Character
Norcross Castor Branch The IMPACT! Group 300,000 92
Village Banking & of Duluth,
Trust Company GA
Pembroke Rural Single First JCVision & 305,850 10
Family Citizens Associates,
Housing Bank Inc.
Development
Savannah Fresh Start The Carver Old Savannah City 250,000 28
State Mission
Bank
Savannah Housing First Chatham Union Mission, 300,000 48
Services Bank Inc.
of Union
Mission
Thomaston Thomaston First State RHA-Housing, Inc. 500,000 100
Gardens Bank &
Rehabilita- Trust Company
tion
2007
SOURCE Federal Home Loan Bank of Atlanta
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