ATLANTA, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it will begin accepting applications for its 2023 Affordable Housing Program (AHP) General Fund round on March 1, 2023. Affordable housing projects can receive up to $750,000 in grant funding through the General Fund. The deadline for submitting applications is 11:59 p.m. ET on March 31, 2023.
The AHP General Fund is one of the largest sources of private funding for affordable housing in the country. It provides critical financing for the acquisition, construction, or rehabilitation of multifamily or single-family housing, and offers a unique way for FHLBank Atlanta members to work with for-profit and nonprofit developers and community partners. Since 1990, FHLBank Atlanta has awarded more than $836.5 million through the General Fund, helping finance more than 132,000 units of affordable housing and helping its members achieve their business development and community lending goals.
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:
| Joel Brockmann Senior Multifamily Portfolio Analyst 404.888.8156 jbrockmann@fhlbatl.com | Julia Brown Multifamily Portfolio Manager 404.888.8093 jlbrown@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 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 $7.3 billion in Affordable Housing Program funds, assisting more than one million 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
