Funding to Create, Preserve 547 Affordable Rental, Homeownership Units
ATLANTA, April 21 /PRNewswire/ -- Federal Home Loan Bank of Atlanta
(FHLBank Atlanta) announced today that it will award nearly $2.9 million in
grants in Virginia to help pay for 547 affordable housing units. The
funding is part of more than $50 million in grants FHLBank Atlanta will
award in 12 states and the District of Columbia.
Local community developers, in partnership with FHLBank Atlanta member
institutions, will use individual grants ranging from $42,500 to $418,750
to fund affordable housing developments in the cities of Abingdon,
Albemarle, Buena Vista, Charles City, Chesterfield, Exmore, Fluvanna, Glade
Springs, Greene, Hampton, Harrisonburg, Henrico, King George, Louisa,
Nelson, Newport News, Norton, Pulaski, Petersburg, Richmond, Roanoke,
Warrenton, Warsaw, and Williamsburg, as well as Buchanan, Dickenson,
Russell, and Washington counties.
"Partnerships established through our AHP funding are an effective way
to meet the demand for more affordable housing and provide employment
opportunities in Virginia's rural and urban communities," 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.
Virginia - 2007 AHP Winners
City Project Name Member Sponsor Grant/ Total
Subsidy Units
Abingdon Abingdon Green Highlands Southwest 180,000 32
Union Virginia Housing
Bank Corporation of
Abingdon,
Virginia
Albemarle, Thomas Branch Piedmont Housing 394,500 41
Louisa, Jefferson Banking & Alliance of
Nelson, Community Trust Charlottesville,
Fluvanna, and Workforce Company Virginia
Greene Housing
Buchanan, Housing Highlands People 100,000 20
Dickenson, Rehabilitation Union Incorporated of
Russell, and Program Bank Southwest
Washington Virginia of
Counties Abingdon,
Virginia
Buena Vista Hillcrest Branch Mark Dana 215,900 40
Manor Banking & Corporation of
Trust Woodlands, Texas
Company
Buchanan, People The First People 100,000 10
Dickenson, Incorporated Bank & Incorporated of
Russell, and Homebuyer Trust Southwest
Washington Program Company Virginia
Counties
Chesterfield, Senior Home SunTrust ElderHomes 418,750 133
Henrico, Repair Program Bank Corporation of
Petersburg, Richmond,
Richmond, and Virginia
Charles City
Exmore New Road Shore New Road 104,000 16
Village III Bank Community
Development
Group of Exmore,
Inc.
Glade Springs Rush Creek Highlands People 75,000 15
Housing Union Incorporated of
Rehabilitation Bank Southwest
Project Virginia of
Abingdon,
Virginia
Hampton and Habitat Builds The Old Peninsula 42,500 5
Newport News Homes Point Habitat for
National Humanity of
Bank of Newport News,
Phoebus Virginia
Harrisonburg Covenant United Hope Community 105,000 21
Heights-Phase Bank Builders of
II Harrisonburg,
Virginia
King George Angelwood Union Project Faith 160,000 32
Development Bank & Inc., of King
Phase II Trust George, Virginia
Company
Norton Norton Green The First Southwest 200,000 40
Bank & Virginia Housing
Trust Corporation of
Company Abingdon,
Virginia
Pulaski Pulaski The First Southwest 220,000 44
Village Bank & Virginia Housing
Trust Corporation of
Company Abingdon,
Virginia
Warrenton Sterling Court Marshall Fauquier Habitat 70,200 9
B National for Humanity
Bank &
Trust
Company
Roanoke New Gilmer First- Blue Ridge 80,400 6
Project Citizens Housing
Bank & Development
Trust Corporation of
Company Roanoke
Warsaw College Green Branch Community 85,000 16
II Banking & Housing Partners
Trust Corporation of
Company Christiansburg,
Virginia
Williamsburg Parker View Citizens Bay Aging 335,000 67
& Farmers
Bank
SOURCE Federal Home Loan Bank of Atlanta
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