The following was posted today via PR Newswire:
ATLANTA, Feb. 18 /PRNewswire/ -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it will award $1.5 million to help developers fund 178 affordable housing units in Maryland. The funding is part of more than $43 million FHLBank Atlanta will award in ten states to create or preserve 4,514 units of affordable housing.
FHLBank Atlanta will award the funds as part of its 2008 Affordable Housing Program (AHP) offering. Local community developers, in partnership with FHLBank Atlanta member institutions, will use the awards to fund three affordable housing developments in Garrett County, as well as the cities of Baltimore and Oakland.
"Our partnerships provide tangible economic benefits to the communities we serve by stimulating the local economy with affordable housing options and employment opportunities," said Arthur Fleming, first vice president and director of Community Investment Services, FHLBank Atlanta.
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. 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.
FHLBank Atlanta will award the funds as part of its 2008 Affordable Housing Program (AHP) offering. Local community developers, in partnership with FHLBank Atlanta member institutions, will use the awards to fund three affordable housing developments in Garrett County, as well as the cities of Baltimore and Oakland.
"Our partnerships provide tangible economic benefits to the communities we serve by stimulating the local economy with affordable housing options and employment opportunities," said Arthur Fleming, first vice president and director of Community Investment Services, FHLBank Atlanta.
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. 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.
Garrett County Award Winners were sponsored by Garrett County Community Action Committee and include Garrett County Owner Occupied Rehab and Liberty Square in Oakland.
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