Applications will be accepted for affordable housing grants starting April 21
ATLANTA, March 20, 2025 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) will allocate $50 million through its 2025 Affordable Housing Program (AHP) General Fund, which opens for applications on April 21, 2025. Developers and housing organizations partner with a FHLBank Atlanta member financial institution to apply for grant funding to support affordable housing projects that involve the purchase, construction and rehabilitation of owner-occupied, rental, or transitional housing.
This year, FHLBank Atlanta is increasing the maximum subsidy amount per project to $1.25 million, up from $1 million in 2024, given the current market environment of higher construction costs and home prices.
"Each year we offer the AHP General Fund to provide much needed support for the development of affordable housing, and we are pleased to work with our members to distribute grants to worthwhile projects across our district,” said FHLBank Atlanta President and CEO Kirk Malmberg. "Importantly, our funds assist both for-profit and non-profit developers and community organizations to increase single family and multifamily affordable housing inventory.”
AHP General Fund applications will be accepted through May 22, 2025. A one-time registration is required by May 9, 2025 for all first-time AHP project sponsors. Visit the FHLBank Atlanta website for information on registration as well as webinars detailing the application process, scoring and financial guidelines.
"The General Fund plays a vital role in addressing housing challenges by funding a range of projects from new construction to adaptive reuse and expansion initiatives,” said FHLBank Atlanta Director of Community Investment Services Tomeka Strickland. "We look forward to another successful year of collaboration with our members and community partners to drive meaningful, lasting change in the housing sector.”
Developers or community organizations seeking to identify an FHLBank Atlanta member financial institution can visit the Bank's Find a Member page, or contact Community Investment Services at 800.536.9650, Option 3 or ahpprog@fhlbatl.com.
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 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 $9.1 billion in Affordable Housing Program funds, assisting more than 1.2 million households.
For more information, visit www.fhlbatl.com.
CONTACT: Sheryl Touchton
Federal Home Loan Bank of Atlanta
stouchton@fhlbatl.com
