Federal Home Loan Bank of Atlanta Awards More than $20 Million for Affordable Housing Development
Funding will create, improve, or preserve 1,135 Affordable Rental and Homeownership Units
ATLANTA, Aug. 17, 2023 (GLOBE NEWSWIRE) — Federal Home Loan Bank of Atlanta (FHLBank Atlanta or the Bank) today announced its 2023 Affordable Housing Program (AHP) General Fund awards. In total, 28 affordable housing initiatives in 10 states and Washington D.C. will receive $20,023,614 in AHP direct subsidy. The funding represents over $471 million in total housing development and will be distributed through FHLBank Atlanta member financial institutions to assist in the acquisition, new construction, rehabilitation, or preservation of 1,135 affordable rental and homeownership units.
For the complete list of 2023 winners, click here.
AHP General Funds are awarded annually through a competitive application process. Since 1990, the Bank has awarded more than $866.3 million in General Fund grants, providing more than 134,000 housing opportunities for moderate-, low-, and very low-income households.
“FHLBank Atlanta is pleased to be able to provide financing through our AHP General Fund awards to help bring much needed affordable housing opportunities to communities,” said Tomeka Strickland, FHLBank Atlanta’s Senior Vice President and Director of Community Investment Services. “We thank and congratulate the members, developers, and community groups that are partnering to leverage this funding and produce affordable housing for low- and moderate-income families.”
The opening of the next AHP General Fund round will commence in June 2024, and awards will be announced by the Bank the following December. Potential applicants must work with an FHLBank Atlanta member financial institution to complete the AHP application. A list of member financial institutions is available on the FHLBank Atlanta website at www.fhlbatl.com.
About the Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help 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, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $7.6 billion in Affordable Housing Program funds, assisting more than one million households.
For more information, visit our website at www.fhlbatl.com.
CONTACT: Sharon Cook
Federal Home Loan Bank of Atlanta
[email protected]
404.888.8173
