Skip navigation
Ensuring a Safe and Sound Federal Banking System for All Americans Site Map | Text Size: S M L

Get answers to banking questions

Article Archives: Georgia

Georgia Strives to End Homelessness

Since 1995, the Georgia Alliance to End Homelessness has been dedicated to finding solutions to the issues surrounding homelessness in Georgia. The alliance is committed to public education and awareness of homeless issues; building and facilitating community collaborations; working to ensure appropriate referrals of persons in crisis; facilitating the ongoing identification and development of homeless resources; giving technical support to providers; and serving as a change agent.

An estimated 18,000 people in Georgia on any given day live in homeless shelters and other temporary housing. Additionally, of the thousands of residents struggling to meet their basic needs for food and shelter, more than 55 percent are single-parent families.

The Georgia Alliance provides training programs for organizations interested in reducing homelessness. Organizations can also assist by participating in grant and service opportunities. The Georgia Alliance also trains individuals who provide homeless services, provides organizational capacity, and assists groups serving the homeless. Experienced professionals and trainers from across Georgia and the nation deliver comprehensive curriculums and help the national effort to end homelessness.

Banks and other organizations interested in becoming network members and helping to end homelessness may call Tom Plamann, Director, at (770) 575-5785, ext. 103, or visit the Georgia Alliance Web site at
[Published in Community Developments Investments, February 2012]

Housing Advocacy and Financing in Atlanta
Atlanta Neighborhood Development Partnership, a housing advocacy organization with a mission to promote the development of mixed-income communities, operates an $11 million loan fund called the Community Redevelopment Loan and Investment Fund (CRLIF). The first nonprofit in Atlanta to receive community development financial institution (CDFI) certification, CRLIF provides financing to community development corporations, which are nonprofit and for-profit housing developers that create affordable housing, mixed-income, and mixed-use properties.

CRLIF is designated as a U.S. Treasury Certified Development Entity (CDE), an officially recognized entity that has a primary mission of providing investment capital for low-income communities. To improve access to capital for community redevelopment, CRLIF offers a variety of lending products, including acquisition, predevelopment, construction, and bridge loans as well as lines of credit. Additionally, borrowers may choose to create a custom loan package combining two or more of these products.

One of CRLIF's highest priorities is to expand its loan fund to meet capital needs related to the foreclosure crisis. In metropolitan Atlanta one out of every 91 homes is facing foreclosure. To address this issue, CRLIF is increasing its fund to support acquisition/rehabilitation programs of area nonprofits to help them preserve neighborhoods affected by a high number of foreclosures.

CRLIF is supported by local, regional, and national financial institutions. For more information, contact K.C. George at (404) 420-1608, or visit CRLIF's Web site.
[Community Developments Investments, Spring 2009]

Supporting Affordable Housing through Tax Credit Syndication
Community Affordable Housing Equity Corp (CAHEC) is a 501(c)(3) nonprofit low-income housing tax credit syndicator serving Alabama, the District of Columbia, Florida, Georgia, Kentucky, Maryland, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia. CAHEC works to create and maintain affordable rental and ownership housing in the areas it serves. Since its creation in 1992, CAHEC has developed more than 7,300 units of affordable housing. CAHEC also provides a number of supportive programs designed to assist the residents of the developments it has helped to finance.

As a tax credit syndicator, CAHEC structures equity funds using investors' capital. CAHEC's most recent fund is the South Carolina Preservation Fund II LP (SCPF II). SCPF II is a $32 million equity fund designed to preserve and renovate a portfolio of older, multifamily housing properties in South Carolina. The targeted portfolio includes 41 properties with a total of 1,548 units. Although all investments in SCPF II were fully subscribed in 2008, banks can invest in other CAHEC equity funds as they are developed. To learn more, visit their Web site or e-mail Dana Boole or call (919) 788-1803.
[Community Developments Investments, Spring 2009]

Georgia Banks Investing in Affordable Housing
The Low Income Housing Tax Credit Program (LIHTC), created in 1986 and made permanent in 1993, is an indirect federal subsidy used to finance the new construction or rehabilitation of affordable rental housing under section 42 of the IRS code. In 2001, the Georgia House of Representatives and Senate unanimously approved a state LIHTC program administered through the Department of Community Affairs. The credits provided by the program offer a dollar-for-dollar reduction in state income taxes and can satisfy bank CRA requirements in many instances. Stateside Capital, LLC, headquartered in Atlanta is a for-profit organization formed to consolidate credits from various sources and offer them as investment opportunities to banks, corporations, and individuals. Minimum investments range from $100,000 in commingled funds to substantially higher amounts in private partnerships. The credits flow over a 10-12 year period and rates of return will vary with market conditions. The funds are comprised of properties throughout the state of Georgia that meet required tenant income guidelines. Because the state program mirrors its federal counterpart, the state investor receives the benefit of the due diligence performed by the large federal tax credit investors as well as the federal tax credit syndicators.

For information or to contact Stateside about investment opportunities, e-mail, or call (404) 250-4190 or go to
[Published in News from the Districts, Community Developments, Summer 2005]

Loan Consortium Provides Mortgages for Affordable Housing
Georgia Affordable Housing Corporation (GAHC), a nonprofit organization, was formed in 1998 and is a Community Development Financial Institution (CDFI). GAHC is a lending source and a technical incubator for financing and promoting development of affordable housing units for low- and moderate-income households in Georgia. GAHC mainly concentrates its efforts on small- to medium-sized communities. GAHC has organized a loan consortium made up of financial institutions to provide permanent mortgages for new construction and to rehabilitate multifamily affordable housing units. Loan-to-value ratios associated with GAHC loans are generally lower because of the increased equity investment that results from the use of low-income housing tax credits, HOME funds, or other related affordable housing subsidies.

Contact David Young at (404) 888-8237;
[Published in News from the Districts, Community Developments, Fall 2004]

Banks Investing in Atlanta's Future
Investing in the Community Redevelopment Loan and Investment Fund, Inc. (CRLIF), a CDFI fund has proven to make a difference to metro Atlanta's most distressed neighborhoods. An affiliate of the Atlanta Neighborhood Development Partnership, Inc. (ANDP), CRLIF became a certified CDFI in 1999. Throughout its 13-year history, ANDP has been engaged in developing housing for people of moderate to low incomes. Their dedication to creating mixed-income neighborhoods has resulted in helping to build or renovate more than 7,800 housing units in the Atlanta metropolitan region. CRLIF assists ANDP with creating affordable housing by providing low interest loans to community development corporations and other nonprofit housing developers. Financial institutions and foundations can donate or invest from $250,000 to $5 million. One of the ways ANDP is able to rejuvenate distressed communities is through CRLIF, because it is able to underwrite risks that typically do not meet traditional lending criteria. CRLIF's CDFI fund totals $12 million and also allows area banks to qualify for the Treasury Department's Bank Enterprise Award (BEA).

For further information, please contact, CRLIF Director K.C. George, (404) 522-2637, or visit their Web site at
[Published in News from the Districts, Community Developments, Summer 2004]

Federal Home Loan Bank of Atlanta Creates New Markets Fund
The Federal Home Loan Bank of Atlanta (FHLBA) has established a New Markets Tax Credit (NMTC) matching fund, the "New Markets Fund," through which it will provide recoverable grants of up to $100,000 in matching funds to members that invest in qualifying NMTC funds.

For more information, visit
[Published in News from the Districts, Community Developments, Fall 2002]