Federal Home Loan Bank of Atlanta Partners with Local Financial Institutions to Create Affordable Housing Opportunities
LAKELAND, Fla., Aug. 10, 2016 – (RealEstateRama) — U.S. Rep. Dennis A. Ross (R-FL-15), Senior Deputy Majority Whip, announced today that Florida’s 15th Congressional District will benefit from affordable housing funding from the Federal Home Loan Bank of Atlanta (FHLBank Atlanta), one of the 11 district banks in the Federal Home Loan Bank System.
FHLBank Atlanta awarded $500,000 to assist in funding an affordable housing initiative in District 15 as part of its 2016 Affordable Housing Program (AHP). Noah’s Ark of Central Florida, Inc., in partnership with Regions Bank, will use the AHP funds for The Villages at Noah’s Landing development in Lakeland, Fla.
“I am excited Florida’s 15th Congressional District is partnering with FHLBank Atlanta to create more affordable housing opportunities in our community,” said Ross. “This project will have a positive impact in District 15 by providing housing options that have not been available previously for individuals with special needs. The development will reserve 80 percent of the units for those with physical and visual disabilities, as well as offer a variety of supportive services for special needs individuals. This private investment capital provided by FHLBank’s affordable housing products stimulates much needed growth throughout Florida’s communities by revitalizing neighborhoods, creating jobs, and facilitating economic development.”
“FHLBank Atlanta’s mission is to help communities create affordable housing opportunities to assist qualified families in achieving their housing goals,” said Robert Dozier, Executive Vice President and Chief Business Officer, FHLBank Atlanta. “We are proud to partner with Representative Ross to address this important issue.”
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—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 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $5 billion in Affordable Housing Program funds, assisting more than 791,000 households.
