updated 3/3/2011 5:17:05 PM ET 2011-03-03T22:17:05

ATLANTA, March 3, 2011 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it will award $8.3 million to assist in funding 18 affordable housing developments in North Carolina. 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. Local community developers, in partnership with FHLBank Atlanta member institutions, will use the funding to build or repair 789 affordable rental and ownership housing units in the cities of Asheville, Charlotte, Cornelius, Durham, Fayetteville, Greensboro, Greenville, Laurinburg, Lenoir, Lincolnton, Pittsboro, Salisbury, Washington, Wilkesboro, Wilmington, and Yadkinville.

"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.

North Carolina 2010 AHP Winners          
           
City Project Name Member Sponsor Award Total Units
Lenoir The Shelter Home of

Caldwell County, NC
Branch Banking and

Trust Company
The Shelter Home of

Caldwell County, Inc.
$390,000 40
Charlotte Dove's Nest SunTrust Bank Charlotte Rescue Mission $1,000,000 90
Pittsboro Bellemont Pointe

Apartments
Branch Banking and

Trust Company
Southeastern Housing

Preservation, Inc.
$800,000 76
Yadkinville Harrison Glen at

Yadkinville, Inc.
Branch Banking and

Trust Company
Wesley Community

Development Corporation

 
$85,000 6
Wilkesboro Historic Wilkesboro

School
Branch Banking and

Trust Company
Northwestern Housing

Enterprises, Inc.
$473,379 41
Charlotte Moore Place SunTrust Bank Charlotte Center for Urban

Ministry, Inc.
$1,000,000 85
Washington Alderbrook Pointe

 
Bank of America,

National Association
The Mid Atlantic

Foundation and NRP

Holdings LLC
$520,000 64
Durham Men's Building

 
Branch Banking and

Trust Company
Durham Rescue Mission

(Rescue Missions Ministries,

Inc.)
$800,000 80
Greensboro Glenwood II Apartments RBC Bank (USA) Servant Center, Inc. $180,000 9
Laurinburg Stoney Creek Apartments Branch Banking and

Trust Company
Chimney Peak Development

Corporation and Gateway

Construction Corporation
$352,000 44
Fayetteville Freedom Ridge RBC Bank (USA) RHA/North Carolina MR,

Inc.
$468,000 24
Liberty Square Salisbury RBC Bank (USA) RHA/North Carolina MR,

Inc.

 
$468,000 24
Lincolnton Oakland Mill Apartments Branch Banking and

Trust Company
Chimney Peak Development

Corporation and Gateway

Construction Corporation
$336,000 41
Greenville Ashton Pointe Bank of America,

National Association
The Mid Atlantic

Foundation and NRP

Holdings LLC
$505,000 84
Asheville Brotherton HomeTrust Bank Asheville Area Habitat for

Humanity, Inc.
$100,000 10
Salisbury The Villas at Hope Crest Branch Banking and

Trust Company
Prosperity Unlimited, Inc.

and Halcon Development,

LLC
$322,960 55
Cornelius Poole Place II

 
Peoples Bank Our Towns N Mecklenburg

S Iredell Habitat for

Humanity
$435,205 8
Wilmington Gideon Pointe

Infrastructure
Branch Banking and

Trust Company
Cape Fear Habitat for

Humanity
$60,000   8
CONTACT:  Sharon Cook
          Federal Home Loan Bank of Atlanta
          scook@fhlbatl.com
          (404) 888-8173

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