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Federal Home Loan Bank of Atlanta Awards More Than $2.6 Million for Affordable Housing in Florida

ATLANTA, Nov. 25, 2015 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (the Bank) announced today that it has awarded more than $2.6 million to assist in the funding of nine affordable housing initiatives in Florida as part of its 2015 Affordable Housing Program (AHP). The awarded initiatives, which are located in Avon Park, Fort Myers, Citrus County, Immokalee, Miami, St. Augustine, Arcadia, Jacksonville, and Port St. Joe, support the construction and rehabilitation of housing for veterans and very low- to moderate-income individuals.

Since AHP’s inception in 1990, the Bank has awarded funding to support 375 projects in Florida that created or rehabilitated 20,011 units of quality affordable rental and homeownership housing and consisting of more than $1.8 billion in total development.

“We are proud to celebrate 25 years of the Affordable Housing Program,” said Robert Dozier, FHLBank Atlanta Chief Business Officer. “In partnership with our shareholder financial institutions, the AHP has made a difference in the lives of thousands of families across the Southeast.”

FHLBank Atlanta awards AHP funds annually through a competitive application process. Applications for the 2016 AHP funding round will be accepted beginning March 1, 2016. Potential applicants must work with an FHLBank Atlanta member financial institution to complete the AHP Competitive program application. A list of member financial institutions is available on the FHLBank Atlanta website at www.fhlbatl.com.

For the complete list of winners, click here.

Florida 2015 AHP Winners

CityProject NameMemberSponsorAwardTotal Units
Avon Park

Cornell Colony

Heartland National Bank

Avon Park Housing Development Corporation$500,000 44 rental units
Fort Myers

The Homes of Renaissance Preserve III

Bank of AmericaHousing Authority of the City of Fort Myers
and Norstar Development USA, LP
$177,361 72 rental units

Citrus County

Habitat for Humanity of Citrus County #2

Capital City Bank

Habitat for Humanity of Citrus County, Inc.$204,000 24 ownership units
Immokalee

Timber Ridge at Sanders Pines Reserve

Community Housing Capital, Inc.

Rural Neighborhoods, Inc. and Everglades Community Association, Inc.

$440,000 74 rental units
Miami

Miami Habitat's Affordable Homeownership

EverBank

Habitat for Humanity of Greater Miami

$105,000 15 ownership units
St. Augustine

Saint Augustine & Canopy Oaks

Branch Banking and Trust Company

Habitat for Humanity of St. Augustine/St. Johns County Inc.

$100,000 10 ownership units

Arcadia

Casa San Juan Bosco II

SunTrust Bank

Catholic Charities Housing, Diocese of Venice, Inc.

$341,645 44 rental units
Jacksonville

C.B. Dailey Villas

EverBank

Wealth Watchers Inc.

$240,000 24 rental units

Port St. Joe

Gateway Townhomes of St. Joe

Hamilton State Bank

The Paces Foundation, Inc.

$500,000 50 rental units


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 headquartered 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 $4.8 billion in AHP funds, assisting more than 758,000 households.

For more information, visit our website at www.fhlbatl.com.

Some of the statements made in this announcement are “forward-looking statements,” which include statements with respect to the Bank's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors, many of which may be beyond the Bank's control, and which may cause the Bank's actual results, performance, or achievements to be materially different from the future results, performance, or achievements expressed or implied by the forward-looking statements.

The forward-looking statements may not be realized due to a variety of factors, including without limitation to legislative and regulatory actions, changes or approvals; future economic and market conditions (including the housing market and the market for mortgage-backed securities); changes in demand for advances or consolidated obligations of the Bank and/or the FHLBank System; changes in interest rates and prepayment speeds, default rates, delinquencies, and losses on mortgage-backed securities; political, national, and world events; and adverse developments or events affecting or involving other Federal Home Loan Banks or the FHLBank System in general. Additional factors that might cause the Bank's results to differ from these forward-looking statements are provided in detail in our filings with the Securities and Exchange Commission, which are available at www.sec.gov.

New factors may emerge, and it is not possible for us to predict the nature, or assess the potential impact, of each new factor on our business and financial condition. Given these uncertainties, we caution you not to place undue reliance on forward-looking statements. These statements speak only as of the date that they are made, and the Bank has no obligation and does not undertake to publicly update, revise, or correct any of the forward-looking statements after the date of this announcement, or after the respective dates on which such statements otherwise are made, whether as a result of new information, future events, or otherwise, except as may be required by law.

CONTACT: Meredith Moses Federal Home Loan Bank of Atlanta mmoses@fhlbatl.com (404) 888.8145

Source:Federal Home Loan Bank of Atlanta