Sarbanes, Maryland Congressional Delegation Announces $3.3 Million to Expand Affordable Housing Across the State
WASHINGTON, D.C. – Today, Congressman John Sarbanes joined Senators Ben Cardin and Chris Van Hollen and Congressmen Dutch Ruppersberger, Kweisi Mfume and Jamie Raskin (all D-Md.) in announcing $3.3 million from the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) for affordable housing developments around Maryland. Through this investment, Maryland community developers will partner with local FHLBank Atlanta member financial institutions to build or repair nearly 600 affordable housing units for families, seniors, and individuals.
“Every Marylander, regardless of socioeconomic status, deserves a place to call home,” the lawmakers said. “Affordable housing is one of the toughest challenges that we face, which is why this partnership with FHLBank Atlanta is so essential to create more affordable housing opportunities in Maryland. We remain committed to making sure that all Marylanders have affordable, stable housing, including during the ongoing pandemic.”
“FHLBank Atlanta is grateful to Maryland’s Congressional Delegation for their attention to this important issue,” said Kirk Malmberg, president and chief executive officer of FHLBank Atlanta. “Our mission is to help create affordable housing opportunities and we are proud that our AHP funds will help working families and individuals with lower incomes in Maryland.”
- $500,000 for Woodland Gardens I in Baltimore, Md. for the construction of 63 multifamily rental units
- $300,000 for Woodland Gardens II in Baltimore, Md. for the construction of 75 multifamily rental units
- $500,000 for La Plata Gardens in La Plata, Md. for the construction of 80 multifamily rental units
- $500,000 for Village at Blenheim Run in Havre de Grace, Md. for the construction of 51 multifamily rental units
- $500,000 for Sojourner Place at Oliver in Baltimore, Md. for the construction of 70 multifamily rental units
- $500,000 for 8230 Schultz Road in Clinton, Md. for the construction of 90 multifamily rental units
- $500,000 for 4010 Randolph Road in Silver Spring, Md. for the construction of 168 multifamily rental units
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members — its shareholders and customers — are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies.