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FHLBank Atlanta to fund housing developments in Alabama

Federal Home Loan Bank of Atlanta has announced that it will award more than $6.6 million to fund 20 affordable housing developments in Alabama.

The funding is part of more than $50 million fund that Federal Home Loan Bank of Atlanta (FHLBank Atlanta) will award in 12 states in the US and the District of Columbia to support affordable housing.

Local community developers, in partnership with FHLBank Atlanta member institutions, will use the funding to build or repair 950 affordable housing units in Baldwin, Colbert, Etowah, Hale, Jackson, Lauderdale, and Mobile counties, as well as the cities of Birmingham, Demopolis, Enterprise, Eufaula, Greensboro, Greenville, Huntsville, Jacksonville, Luverne, Mobile, Monroeville and Pell City.

Arthur Fleming, first vice president and director of community investment services, said: AHP funding not only helps bring affordable housing to high-demand areas, but also economically strengthens entire communities by providing employment opportunities.