FHLBank Atlanta Awards $3.5 Million To Affordable Housing

FHLBank Atlanta Awards $3.5 Million To Affordable Housing The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) says it will award $3.5 million to assist in funding six affordable housing developments in North Carolina. The funding is part of $37.6 million FHLBank Atlanta will award in 15 states and the District of Columbia to create or preserve 3,922 units of affordable housing.

FHLBank Atlanta will award the funds as part of its 2011 Affordable Housing Program (AHP) offering. Local community developers, in partnership with FHLBank Atlanta member institutions, will use the funding to build or repair 509 affordable rental and ownership housing units in the North Carolina counties of Moore and Richmond and the cities of Charlotte, Concord, Durham, Fayetteville and Yadkinville.

The AHP is a competitive funding program that helps develop owner-occupied and rental housing for very-low-, low-, and moderate-income families. FHLBank Atlanta awards the funds annually to member financial institutions and their community housing partners. For the complete list of AHP winners, click here.

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