Grants to Help Developers Create, Preserve 734 Affordable Rental,
Homeownership Units
ATLANTA, April 16 /PRNewswire/ -- Federal Home Loan Bank of Atlanta
(FHLBank Atlanta) announced today that it will award $4.6 million in grants
to help developers in North Carolina fund 20 affordable housing projects.
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) second round offering. Local community developers, in
partnership with FHLBank Atlanta member institutions, will use the awards
to build, buy, or renovate 734 affordable housing units in Haywood,
Iredell, Macon, Moore, Richmond, and Yadkin Counties, as well as in
Bayboro, Carrboro, Elizabeth City, Fayetteville, Gastonia, Halifax,
Henderson, Hillsboro, Kannapolis, Matthews, Pittsboro, Shelby, Spruce Pine,
Warren, Winston-Salem, and Yadkinville.
"Working with our member financial institutions, the AHP program
stimulates the economy by infusing communities with affordable housing
options, employment opportunities, and a host of other benefits," 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 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 .
City Project Name Member Sponsor Grant/ Total
Subsidized units
Loan
Bayboro BDC- First Bayboro 140,000 14
Homeownership South Bank Development
Center, Inc.
Carrboro The Arbors at Bank of United Housing 250,000/ 58
Winmore America Associates, Inc. 1,990,000
Georgia, of Columbia, SC
N.A.
Elizabeth River's Edge at Branch Halcon 229,600 56
City Elizabeth Banking & Development, LLC
Crossing Trust
Company
Elizabeth River's Retreat Branch DBT Developers, 240,000 40
City at Elizabeth Banking & LLC of Aynor, SC
Crossing Trust
Company
Fayette- Elliot Lumbee North Carolina 400,000/ 110
ville Properties Guaranty Indian Housing 400,000
Bank Authority
Gastonia Third Avenue Branch Gaston 53,000 8
ILC Banking & Residential
Trust Services
Company
Halifax, Haliwa-Saponi RCB Haliwa-Saponi 250,000 32
Warren Rehabilitation Centura Indian Tribe of
Center III Bank Hollister, NC
Haywood, Wesley CDC Branch Wesley Community 200,000 15
Iredell, energy Banking & and Development
Macon, and Efficient Trust Corporation
Yadkin Affordable Company
Counties Housing II
Henderson A.L. Harris Branch Gateway 89,100 9
Subdivision Banking & Community
Trust Development
Company Corporation
Hills- Cardinal Ridge Branch North Carolina 432,000 72
borough Banking & Housing
Trust Foundation, Inc.
Company of Winston-
Salem, NC
Kannapolis Kannapolis First Bank Prosperity 70,000 14
Revitalization Unlimited, Inc.
Project of Concord
Matthews Sunrise Branch Habitat for 80,000 16
Crossing Banking & Humanity
Trust Matthews
Company
Moore and Habitat Homes First Bank Habitat for 280,000 35
Richmond in Moore an Humanity of
Counties Richmond Moore County
Counties
Pittsboro Bellemont Oaks SunTrust North Carolina 432,000 72
Bank Housing
Foundation, Inc.
Pittsboro East Cornwallis Branch Chatham Habitat 120,000 15
Sustainable Banking & for Humanity
Housing Trust
Company
Shelby Crossroads The First Crossroads 350,000 65
Rescue Mission National Rescue Mission
Bank of of Shelby
Shelby
Spruce Winterstone Bank of Northwestern 250,000 8
Pine Granite Housing
Enterprises,
Inc.
Winston- Project New Southern Habitat for 150,000 10
Salem Hope Community Humanity Forsyth
Bank & County
Trust
Winston- Winston-Salem Branch Winston-Salem 400,000 37
Salem New Life Center Banking & Rescue Mission
Trust
Company
Yadkin- Ridgeland Branch DBT Developers, 192,000 48
ville Terrace Banking & LLC of Aynor, SC
Trust
Company
SOURCE Federal Home Loan Bank of Atlanta
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