Press Release

BUCHANAN ANNOUNCES $2 MILLION FOR AFFORDABLE HOUSING IN HARDEE AND DESOTO

Washington, DC -- Congressman Vern Buchanan announced today that the Federal Home Loan (FHL) Bank of Atlanta has awarded $2 million from its Affordable Housing Program (AHP) to four affordable housing developments in Hardee and DeSoto counties.  

“AHP funds in combination with loans to members are providing a critical funding source to local communities,” said Buchanan.  “This funding will help provide decent, safe, and affordable housing for low and moderate-income families in these two counties.”

The following partners have been have been awarded AHP funding:

• Affordable Housing Solutions for Florida has been awarded $500,000 to help construct 75 new apartments for seniors at Stenstrom Road in Wauchula and $500,000 to help construct 50 new family rental units at Old Orchard Village in Bowling Green;
• DeSoto Homeless Coalition has been awarded $500,000 to help construct 17 rental units at Rosene’s Scuccess House in Arcadia for homeless families, many of whom have suffered domestic violence; and
• Hardee County Housing Authority has been awarded $500,000 to help construct 20 new units for seniors at Chester’s Pointe in Bowling Green.

FHL Bank Atlanta is one of 12 district banks in the Federal Home Loan Bank System.  The Bank partners with member financial institutions and community developers to provide loans and grants to help address the region’s affordable housing and economic development needs.  Since the program’s inception in 1990, the Bank has funded nine projects that created or rehabilitated 431 units in the Florida’s 13th Congressional District.   Statewide, the Bank has awarded funding to support 239 projects that created or rehabilitated 12,601 units.