ATLANTA, May 1, 2012 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that applications for its 2012 Affordable Housing Program (AHP) competitive funding cycle will be available on June 1, 2012. At least $13.5 million in grants will be awarded, with up to $500,000 awarded per project. The deadline for submitting applications is July 2, 2012.
FHLBank Atlanta's AHP competitive grant funding can be used to assist with the acquisition, construction, rehabilitation, and development of affordable rental and ownership housing. Nonprofit and for-profit developers that work with FHLBank Atlanta member financial institutions should submit an application no later than July 2, 2012. A list of member financial institutions is available on the FHLBank Atlanta website at www.fhlbatl.com.
Nonprofit and for-profit developers should review the AHP Implementation Plan for updates to application guidelines and requirements.
The timeline for the grant application process is as follows:
- June 1, 2012 – AHP Competitive Program Online Application Available
- June 1, 2012 – New Registration Deadline
- July 2, 2012 (12:00 midnight ET) – AHP Competitive Program Application Submission Deadline
- July 2, 2012 (12:00 midnight ET) – AHP Competitive Program Application Supporting Documentation Deadline
About the Affordable Housing Program
AHP is a component of FHLBank Atlanta's affordable housing, economic development, and down-payment assistance initiatives. Since 1990, FHLBank Atlanta has awarded more than $420 million in grants through its affordable housing funding program. More than 68,000 units of housing have resulted from the program. For more information, call the Bank's Community Investment Services Department at 1.800.536.9650 option 3, option 3.
About FHLBank 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 12 district banks in the Federal Home Loan Bank System, which since 1990 has contributed more than $4 billion to the Affordable Housing Program.