AFFORDABLE HOUSING FINANCE • April/May 2010
FOR EVERY $1 MILLION of funding from the Federal Home Loan Bank of Atlanta's Affordable Housing Program (AHP), $14.3 million of housing is built or rehabilitated, according to a new study.
In addition, every $1 million of AHP funding creates 158 jobs, says an analysis by The Hendrickson Co. and The Shimberg Center for Housing Studies at the University of Florida.
The 12 regional FHLBanks dedicate 10 percent of their net income each year to the AHP. They have contributed more than $3.6 billion to the program since 1989.
The Atlanta bank commissioned the study to quantify the economic impact of its program, which has provided $407.5 million in AHP funding in the past two decades.
Among its findings, the study reports that every dollar of AHP funding creates $24.60 of additional economic impact in the community.