FHLBank Atlanta Awards $13.6M In AHP Funds

Posted by Orb Staff on November 27, 2012 No Comments
Categories : Residential Mortgage

12804_fhlb FHLBank Atlanta Awards $13.6M In AHP Funds The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) has announced that it will award $13.6 million to assist in the funding of 43 affordable housing projects in 10 states and the District of Columbia as part of its 2012 Affordable Housing Program (AHP).

According to the FHLBank Atlanta, the projects being funded represent over $271 million in total housing development. Local for-profit and nonprofit developers, in partnership with FHLBank Atlanta member institutions, will use $12 million of the AHP funds to assist in the acquisition, new construction, rehabilitation, or preservation of 1,993 affordable rental and homeownership housing units in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. Developers with projects in states outside of the bank's district – including Louisiana, Pennsylvania and Texas – will receive funds totaling $1.6 million in AHP funding to develop 272 housing units.

FHLBank Atlanta's AHP awards range from $33,660 to $500,000 per project.

‘For more than 20 years, AHP funds have created valuable opportunities for member institutions, developers and community groups to partner and invest in affordable housing and community economic development,’ says Robert Dozier, FHLBank Atlanta's executive vice president and chief business officer. ‘The consistent performance and sound operation of AHP is clear evidence of the bank's continued commitment to this aspect of our mission.’

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