Federal Home Loan Bank of Atlanta awards over $ 18 million for affordable housing development | Your money

ATLANTA, Nov. 22, 2021 (GLOBE NEWSWIRE) – The Federal Home Loan Bank of Atlanta (FHLBank Atlanta or the Bank) announced today that it has provided $ 18,723,850 through its members to help Fund 40 affordable housing initiatives in 12 states and the District of Columbia as part of its 2021 General Affordable Housing Program (AHP) fund. Collectively, these initiatives represent over $ 582 million in total residential development.

FHLBank Atlanta member financial institutions to distribute more than $ 18 million in General Fund grants to assist in the acquisition, new construction, rehabilitation or preservation of 2,194 rental and homeownership units affordable. For the full list of 2021 winners, Click here.

FHLBank Atlanta awards AHP funds annually through a competitive application process. Since 1990, the Bank has provided more than $ 836 million in General Fund grants, providing more than 132,000 housing options to modest, low and very low income households.

“The General Fund awards have positively impacted communities in our district and in many other parts of the country for over 30 years,” said Arthur L. Fleming, Senior Vice President and Director of Investment Services Community of FHLBank Atlanta. “We value the partnerships our members forge with local for-profit and non-profit developers to help build and rehabilitate healthy, affordable housing for the citizens who need it most. “

The opening of the 2022 General Fund round will be announced by the Bank in the first quarter of next year. Potential applicants should work with a FHLBank Atlanta member financial institution to complete the AHP application. A list of member financial institutions is available on the FHLBank Atlanta website at https://corp.fhlbatl.com/.

About Federal Home Loan Bank of Atlanta FHLBank Atlanta offers competitively priced finance, community development grants, and other banking services to help member financial institutions obtain affordable mortgages and provide home loans. economic development to neighborhoods and communities. The members of the Bank — its shareholders and customers — are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, USA. 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 provided approximately $ 7 billion in Affordable Housing Program funds, helping more than 990,000 households.

For more information, visit our website at corp.fhlbatl.com.

CONTACT: Peter E. Garuccio Federal Home Loan Bank of Atlanta [email protected] 404.888.8143

Copyright 2021 GlobeNewswire, Inc.

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