The partnerships will use the money to build housing in Americus, Atlanta, Bainbridge, Cordele, Decatur, Eastman, Fort Valley, McDonough, Montezuma and Toccoa.
As part of its Affordable Housing Program, the FHLB awarded grants from $100,000 to $500,000 to five financial institutions and their nonprofit partners.
"Within the past 10 years, Georgia's rural and urban population has increased dramatically, but the affordable housing market has not kept up with this dynamic expansion," Donald Phoenix, district director, Neighborhood Reinvestment Corp., Atlanta, says in a prepared statement. "By providing nonrestrictive development funding, the Federal Home Loan Bank of Atlanta and its members have become a catalyst for affordable housing development in the South."
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