Federal Home Loan Bank of Atlanta Awards nearly $27 Million for Affordable Housing Development
Friday, November 13th, 2020
Federal Home Loan Bank of Atlanta (FHLBank Atlanta or the Bank) announced today that it has awarded $26,938,914 million to assist in the funding of 61 affordable housing initiatives in 19 states and the District of Columbia as part of its 2020 Affordable Housing Program (AHP). Collectively, these initiatives represent over $1 billion in total housing development.
In partnership with local for-profit and nonprofit developers, FHLBank Atlanta member financial institutions will use $27 million of AHP funds to assist in the acquisition, new construction, rehabilitation, or preservation of 4,099 affordable rental and homeownership units. For the complete list of 2020 winners, click here.
“Our Affordable Housing Program has enabled communities across our district to achieve their affordable housing and economic development objectives for 30 years,” said Arthur L. Fleming, FHLBank Atlanta’s Senior Vice President and Director or Community Investment Services. “We are proud of the positive impact our affordable housing program has had, and we know this critical source of funding will continue to play a vital role in creating safe and healthy housing.”
FHLBank Atlanta awards AHP funds annually through a competitive application process. Since 1990, FHLBank Atlanta has awarded more than $817 million in AHP Competitive grants, providing more than 129,000 housing opportunities for moderate, low-, and very low-income households.
The Bank will announce the opening of the 2021 AHP funding round in first quarter 2021. 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.
FHLBank Atlanta’s 2020 AHP awards range from $30,000 to $500,000 per initiative and will be made in the following states:
|State||Rental Units||Owner Units||AHP Funds||Total Development|
|District of Columbia||322||--||$1,000,000||$88,872,559|
|Out of District||1071||--||$8,883,657||$361,328,450|