updated 2/10/2011 1:16:32 PM ET 2011-02-10T18:16:32

ATLANTA, Feb. 10, 2011 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it will award $8.5 million to assist in the funding of 12 affordable housing developments in Florida. The funding is part of $42.7 million FHLBank Atlanta will award in 11 states and the District of Columbia to create or preserve 4,841 units of affordable housing.

FHLBank Atlanta will award the funds as part of its 2010 Affordable Housing Program (AHP) offering. Community developers, in partnership with FHLBank Atlanta member institutions, will use the funding to build or repair 1,248 affordable housing units in Duval, Lake, and Orange counties, as well as the cities of Arcadia, Cooper City, Fellsmere, Ft. Lauderdale, Ft. Walton Beach, Homestead, Miramar, Nokomis/Laurel, Pensacola, and Tallahassee.

"FHLBank Atlanta continues to provide unique funding options that help members serve their communities," said Arthur Fleming, senior vice president and director of Community Investment Services, FHLBank Atlanta. "Through the participation of member institutions, AHP acts as a catalyst to revitalize neighborhoods, create jobs, and support economic development."

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 .

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 headquartered 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.

Florida 2010 AHP Winners
City/County Project Name Member Sponsor Award Total Units
Pensacola Waterfront Rescue Mission Synovus Bank The Waterfront Rescue

Mission, Inc.
$1,000,000 100
Ft. Lauderdale Ft. Lauderdale Campus Bank of America, National Association Fort Lauderdale Rescue

Tabernacle, Inc.
$1,000,000 130
Ft. Walton Beach FRESH Start Center Branch Banking and

Trust Company
Okaloosa Community

Development Corporation
$722,500 10
Homestead Villa Capri RBC Bank (USA) Opa Locka Community



Group Development, LLC
$1,000,000 220
Arcadia Cypress Senior Village SunTrust Bank Arcadia Housing

Development Corporation
$1,000,000 50
Fellsmere Grace Meadows III RBC Bank (USA) Indian River County Habitat for Humanity $120,000 16
Tallahassee Artspace Lofts Tallahassee RBC Bank (USA) Artspace Projects, Inc. $1,000,000 50
Orange and Lake Counties Orange and Lake

County Foreclosures
SunTrust Bank Homes In Partnership, Inc. $160,000 16
Duval County Beaches Properties Branch Banking and

Trust Company
Beaches Habitat for

Humanity, Inc.
$170,000 20
Cooper City ZOM Monterra LP CNL Bank ZF Development LLC $1,000,000 300
Miramar ZOM Foxcroft LP CNL Bank ZF Development LLC $1,000,000 320
Nokomis/Laurel Garden Park Synovus Bank Habitat for Humanity South

Sarasota County, Inc.
$285,000 16
CONTACT:  Sharon Cook
          Federal Home Loan Bank of Atlanta
          (404) 888-8173

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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