Jason Sandford
Jason Sandford is a reporter, writer, blogger and photographer interested in all things Asheville.
Press release here:
Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it will award more than $5.8 million to help finance 541 affordable housing units in North Carolina. The funding is part of more than $43 million FHLBank Atlanta will award in ten states to create or preserve 4,514 units of affordable housing.
FHLBank Atlanta will award the funds as part of its 2008 Affordable Housing Program (AHP) offering. Local community developers, in partnership with FHLBank Atlanta member institutions, will use the awards to fund 12 affordable housing developments in Davie, Iredell, Robeson, and Yadkin counties, as well as Asheville, Boone, Hendersonville,Mocksville, Nags Head, Red Springs, Ridgecrest, Sanford, Waves, Wilmington, and Winston-Salem.
“AHP program funding generates substantial benefits for the communities it serves by creating not only affordable housing but also new employment opportunities,” said Arthur Fleming, first vice president and director of Community Investment Services, FHLBank Atlanta.
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.
The project is listed as 225 Patton; the member bank listed is HomeTrust; and Western Carolina Rescue Ministries is listed as the recipient of $1 million for 142 units. It’s unclear what this means — an expansion of the homeless shelter on Patton? The construction of apartments for the homeless?
