ATLANTA, March 15, 2022 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it will begin accepting applications for its 2022 Affordable Housing Program (AHP) General Fund round on June 1, 2022. Projects supporting the development of affordable rental and ownership housing in Difficult Development Areas (DDAs), as recognized by the U.S. Department of Housing and Urban Development (HUD), can receive up to $750,000 in grant funding through FHLBank Atlanta member financial institutions and their community partners. All other projects can receive up to $500,000 in grant funding. The deadline for submitting applications is 11:59 p.m. ET on July 1, 2022.
The AHP General Fund is one of the largest sources of private funding for affordable housing in the country. FHLBank Atlanta members work with for-profit and nonprofit developers and can apply for funding to help finance the acquisition, construction, or rehabilitation of multifamily housing or single-family housing, and for either rental or ownership units. The AHP General Fund delivers the residential real estate equity needed for successful affordable housing and offers a unique way for member financial institutions to achieve business development and community lending goals, facilitate residential development, and expand their customer base.
FHLBank Atlanta’s Senior Vice President and Director of Community Investment Services, Arthur L. Fleming, notes that since 1990, FHLBank Atlanta has awarded more than $836 million in General Fund grants. “More than 132,000 affordable housing rental and homeownership units across the Southeast and throughout the country have been enabled with FHLBank Atlanta General Funds,” said Fleming. “Our General Fund has an excellent track record of success and we once again encourage our members and their developer customers and partners to submit their proposals and participate once the round opens.”
FHLBank Atlanta will be hosting a series of webinars designed to increase awareness of the AHP General Fund and to help familiarize member financial institutions and the developer community with the application process. Interested parties can visit the Bank’s website to register for a webinar.
Developers need to work with an FHLBank Atlanta member financial institution to complete the AHP General Fund application. Nonprofit, for-profit, and local government sponsors and developers should review the AHP Implementation Plan for application guidelines and requirements.
Interested parties that need assistance in identifying an FHLBank Atlanta member financial institution to work with can use the Find a Member page available on the Bank’s website, or contact an FHLBank Atlanta Community Investment Services team member:
| Maxima Sims Homeownership Portfolio Manager 404.888.8325 msims@fhlbatl.com | Joel Brockmann Senior Multifamily Portfolio Analyst 404.888.8156 jbrockmann@fhlbatl.com |
| Jessie Marquardt Senior Multifamily Portfolio Analyst 404.888.8230 jmarquardt@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 billion in Affordable Housing Program funds, assisting more than 990,000 households.
For more information, visit our website at www.fhlbatl.com.
CONTACT: Peter E. Garuccio
Federal Home Loan Bank of Atlanta
pgaruccio@fhlbatl.com
404.888.8143
