Federal Home Loan Bank Awards $5.1 Million for Affordable Housing in Virginia

Atlanta–Federal Home Loan Bank of Atlanta will award $5.1 million to assist in the funding of 12 affordable housing developments in Virginia. 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 offering. Local community developers, in partnership with FHLBank Atlanta member institutions, will use the funding to build or repair 536 affordable rental and ownership housing units.