Funding to Create, Preserve 802 Affordable Rental, Homeownership Units
ATLANTA, April 30 /PRNewswire/ -- Federal Home Loan Bank of Atlanta
(FHLBank Atlanta) announced today that it will award more than $6.2 million
to help South Carolina developers fund 802 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.
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 20
affordable housing projects in the cities of Aiken, Allendale, Blackville,
Bluffton, Columbia, Darlington, Greenville, Lake City, Orangeburg, Pickens,
Ridgeland, Saluda, Sumter and Ware Shoals as well as Charleston and Oconee
counties.
"We take great pride in knowing that our funding not only helps create
affordable housing, but also employment and community development
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 .
South Carolina -- 2006 Second Round AHP Winners
City Project Member Sponsor Grant/ Total
Name Subsidy units
Aiken, CDIC's First Community 300,000 40
Edgefield, Owner Citizen's Development &
Saluda and Occupied Bank & Improvement
Lexington Rehabilitation Trust Corporation of
Program Company Aiken
Allendale Allendale Palmetto Allendale 120,000 20
County State Bank County ALIVE,
Rehabilitation Inc.
II
Andrews Magnolia Branch Southeastern 350,000/ 24
Park Banking & Housing 40,000
Apartments Trust Preservation,
Company Inc.
Blackville Butterfly Community Butterfly 60,000 6
House- Resource House, Inc.
Phase II Bank, N.A.
Bluffton Hallmark RBC United Housing 500,000 72
Homes at Centura Associates,
Bluffton Bank Inc. of
Columbia, South
Carolina
Charleston Lowcountry First Lowcountry 399,000 15
County Owner Federal Housing &
Occupied Savings & Economic
Rehab III Loan Development
Association Foundation,
Inc.
Columbia The Reserve Bank of Santee-Lynches 500,000/ 112
of Columbia America Affordable 200,000
Georgia, Housing &
N.A. Community
Assistance
Provider
Darlington Pecan Grove Carolina The Mid- 400,000/ 32
Bank Atlantic 110,000
Foundation
Greenville Clark Branch The Housing 500,000 96
Street Banking & Authority of
Commons Trust the City of
Company Greenville,
South Carolina
Greenville Gower Regions BGM, Inc. 100,000 12
Place-Phase Bank
II
Greenville Phoenix Branch Greenville 150,000 12
Trace Banking & Housing
Apartments Trust Futures, Inc.
Company
Lake City Bailey Branch Southeastern 335,000/ 24
Gardens Banking & Housing 30,000
Apartments Trust Preservation,
Company Inc.
Oconee 6 Homes Oconee Oconee County 30,000 6
County Federal Habitat for
Savings & Humanity
Loan
Association
Orangeburg Pine Hill Bank of Humanities 500,000 72
Apartments America Foundation,
Georgia, Inc.
N.A.
Orangeburg Samaritan First Samaritan House 160,000 42
House-Rehab Citizens
Bank &
Trust
Company,
Inc.
Pickens Pickens First RHA-Housing, Inc. 500,000/ 77
Gardens- State Bank 162,882
Rehabilitation & Trust
2007 Company
Ridgeland Fulghum Coastal Hilton Head 55,000 10
Project States Regional
Bank Habitat for
Humanity of
Bluffton, South
Carolina
Saluda Springs Security Community 275,000 26
Place Federal Development &
Bank Improvement
Corporation
Sumter EPCHHA The Empowered 500,000 80
d/b/a National Personal Care
Trinity Bank of Home Health
Place South Alliance
Carolina
Ware Ware Shoals Branch United Housing 500,000 24
Shoals Inn Senior Banking & Associates,
Housing Trust Inc.
Company
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:
Sharon Cook of Federal Home Loan Bank of
Atlanta, +1-404-888-8173, scook@fhlbatl.com
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