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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Federal Home Loan Bank of Atlanta Awards more than $18 Million for Affordable Housing Development

November 22, 2021 GMT

ATLANTA, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta or the Bank) announced today that it has awarded $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 Affordable Housing Program (AHP) General Fund. Collectively, these initiatives represent over $582 million in total housing development.

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

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

“General Fund awards have had a positive impact on communities across our district and in many other parts of the country for more than 30 years,” said Arthur L. Fleming, FHLBank Atlanta’s Senior Vice President and Director of Community Investment Services. “We appreciate the partnerships our members engage in with local for-profit and nonprofit developers to help build and rehabilitate healthy and affordable housing for citizens who are most in need.”

The opening of the 2022 General Fund round will be announced by the Bank in the first quarter next year. 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 https://corp.fhlbatl.com/.

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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 billion in Affordable Housing Program funds, assisting 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
pgaruccio@fhlbatl.com
404.888.8143