The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) has made available a record $55 million for its 2024 Affordable Housing Program (AHP) General Fund. 

Applications for up to $1 million in grant funding per project for the acquisition, construction or rehabilitation of affordable multifamily and single-family housing will be accepted from June 27 to July 29.  

“Each year, the General Fund provides an opportunity for financial institutions to work with for-profit and nonprofit developers and community partners to improve access to affordable housing,” FHLBank Atlanta President and CEO Kirk Malmberg said in a press release. “The FHLBank System’s AHP General Fund is one of the largest sources of private funding for affordable housing in the country, and our grants make a considerable impact within the communities across our district.” 

The bank will host training webinars on the application process for member financial institutions and the developer community. Sponsors and developers must work with a FHLBank Atlanta member financial institution to complete and submit the online application by the July 29 deadline.  

“In 2024 alone, FHLBank Atlanta will disburse more than $100 million in grants for affordable housing and community development, and more than half of that is through our AHP General Fund,” FHLBank Atlanta Senior Vice President and Director of Community Investment Services Tomeka Strickland said. “Since the inception of the program in 1990, FHLBank Atlanta has awarded more than $866 million through the General Fund, helping to finance more than 134,000 housing opportunities for moderate-, low- and very low-income households.” 

Webinar information and registration is available on the FHLBank Atlanta website.