The funding is part of $42.7 million FHLBank Atlanta awarded in 2010 in 11 states and the District of Columbia to create or preserve 4,841 units of affordable rental and ownership housing.
FHLBank Atlanta will award the funds as part of its 2010 Affordable Housing Program (AHP) offering. Local community developers, in partnership with FHLBank Atlanta member institutions, will use the funding to build or repair 724 affordable housing units in Cherokee, DeKalb, Douglas, Forsyth, and Fulton counties, as well as the cities of Atlanta, Cumming, Forsyth, Jefferson, Tennille, Tifton, Valdosta, and Waynesboro.
"FHLBank Atlanta continues to provide unique funding options that help members serve their communities," said Arthur Fleming, senior vice president and director of Community Investment Services, FHLBank Atlanta. "Through the participation of member institutions, AHP acts as a catalyst to revitalize neighborhoods, create jobs, and support economic development."
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 funds annually to member financial institutions and their community housing partners. AHP is a component of FHLBank Atlanta's affordable housing, economic development, and down-payment assistance initiatives. For the complete list of AHP winners, visit www.fhlbatl.com/ahp.
The projects in Cumming, Jefferson and Forsyth County and the amount of money awarded for the project area:
Forsyth County, Brentwood Place Apartments Association, $465,000; Cherokee, Forsyth and Fulton, Habitat North Central Georgia, $50,000; Cumming, Highland Manor, $500,000; and Jefferson, New Start, $1 million.
For a complete list of the projects, click on the link below.
http://accesswdun.com/article/2011/2/236261