Federal Home Loan Bank of Atlanta Awards $43 Million for Affordable Housing Development

Last week, the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced that it will award more than $43 million to fund 85 affordable housing projects in ten states for its 2008 funding program. The awards include specific funding for senior housing projects in Alabama, Georgia and Texas.

Local community developers, in partnership with FHLBank Atlanta member institutions, will use $38.6 million of the funds to buy, build, or preserve 4,040 affordable housing units in seven states within its district including Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, and Virginia. Partnerships in three states (Tennessee, Texas and Louisiana) outside the Bank’s district will receive funds totaling $4.4 million to develop 474 housing units.

For the full press release, click here.


For the complete list of awards for 2008, click here.