SC To Receive $4 Million for Affordable Housing
2009/03/05, 4:04 pm
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SCBIZ Daily Staff

ATLANTA – Federal Home Loan Bank of Atlanta will award more than $43 million in grants to 10 states to create or preserve affordable housing. More than $4 million will go to South Carolina to help finance 10 affordable housing developments.

FHLBank Atlanta will award the funds as part of its 2008 Affordable Housing Program offering. Local community developers, in partnership with FHLBank Atlanta member institutions, will use the awards to developments in Aiken, Allendale, Barnwell, Berkeley, Charleston, Clarendon, Darlington, Dorchester, Edgefield, Kershaw, Lee, Lexington, Orangeburg, Richland, Saluda, Sumter and Williamsburg counties. Projects in the cities of Bluffton, Kingstree, Myrtle Beach and North Augusta have also been selected.

“AHP program funding provides an important economic boost to entire communities by creating affordable housing and jobs in those areas that need it most,” 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.

For a complete list of the projects that will receive funding, click here.

Published March 5, 2009

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