1 / 23

Federal Home Loan Bank of Atlanta Virginia Housing Credit Conference September 5, 2013

Federal Home Loan Bank of Atlanta Virginia Housing Credit Conference September 5, 2013. Joel Brockmann Rental Production Manager Community Investment Services. 1. Our Discussion Today. FHLBank Atlanta Overview Community Investment Services (CIS) Overview Product and Services

parry
Télécharger la présentation

Federal Home Loan Bank of Atlanta Virginia Housing Credit Conference September 5, 2013

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Federal Home Loan Bank of Atlanta Virginia Housing Credit Conference September 5, 2013 Joel Brockmann Rental Production Manager Community Investment Services 1

  2. Our Discussion Today • FHLBank Atlanta Overview • Community Investment Services (CIS) • Overview • Product and Services • Connecting the Dots: Value and Benefits • What Can We Do To Assist You?

  3. FHLBanks Perform Critical Function Cooperative, regional structure of FHLBanks helps reduce risk; increases responsiveness to shareholders FHLBanks meet liquidity and risk management needs of financial institutions of all sizes Via our shareholders, provide essential “equity-like” fundingfor locally based affordable housing and community development

  4. Community Dividend Earnings FHLBank Products Unique Offering to Shareholder • Like every “dividend,” predicated upon earnings • “Equity-like” capital for real estate transactions • Direct & indirect benefits to shareholders, developers, homebuyers, tenants, and the community 10 percent =

  5. Community Shareholder FHLBankAtlanta Connecting the Dots Benefit New and Rehabbed Housing, Growing Local Tax Base; Job Creation Funds are invested in community-based transactions generating successful lending opportunities Growing communities create demand for additional financing Benefit Viable lending; new customers FHLBank Atlanta provides “equity-like” funding enabling shareholders to make transactions viable and attract new customers Shareholder originations create demandfor advances 5

  6. Scale and Impact of our Shareholder Leveraging of AHP *As of 7/31/13 $441 Million competitive funding to create over 73,000 rental and homeownership opportunities for moderate-, low- and very low-income households since 1990. AHP Competitive Leverage Ratio – 1:15 AHP Competitive Program AHP Set-aside Program $121 Million funded through AHP Set-aside products and supporting more than 18,000 units since 1997. AHP Set-aside Leverage Ratio – 1:18 Community Investment Program $6.5 Billion of low-cost CICA advances supporting community economic initiatives and affordable housing development. Economic Development Program

  7. Products Responsive to Market • Affordable Housing Program (AHP) • AHP Competitive – rental and ownership • Rental or Ownership • New construction or rehabilitation • Single-family or multi-family • Mixed-use • Acquisition/owner-occupied • AHP Set-aside – ownership only • First-time Homebuyer Product (FHP) • Community Stability Product (CSP) • Foreclosure Recovery Product (FRP) • Energy Efficiency/Weatherization Rehabilitation Product (EWP) • Accessibility Rehabilitation Product (ARP) • Veterans Products • Community Investment Program (CIP)/Economic Development Program (EDP) • Discounted advance products for residential or economic development projects Commercial Opportunities Single-Family Mortgage Opportunities Commercial Opportunities

  8. Funding to create rental and homeownership opportunities for moderate-, low- and very-low income households Maximum $500,000 per project Competitive Application Process (1 round per year) Beneficiaries Residents at or below 80% of Area Median Income (AMI) Uses: New construction/rehabilitation Single-family/multi-family Acquisition/Owner-occupied rehabilitation AHP Competitive Product - Rental 8

  9. AHP Competitive Product – Rental Example Multi-family Purchase and RehabilitationWashington, DC, 43 units Housing for homeless veterans • “AHP has the ability to fill funding gaps.” – FHLBank Atlanta Shareholder

  10. Multifamily Rental Multi-family Acquisition/RehabilitationNewport News City, VA, 80 units

  11. Ownership transactions Types Ownership new construction Acquisition / rehab Owner-occupied rehab Downpayment assistance Use of Funds Acquisition Rehabilitation New Construction and/ or Permanent funding AHP Competitive Product - Ownership 11

  12. Value and Impact to You as a Business Developer • Enables extension of credit • Reduces loan risk • Compatible with public or private debt and equity • Equity for difficult to develop/critical deals • Magnet to create new relationships

  13. AHP 46,000 Jobs* Tax Revenue $932 Million* Local Development $4.8 Billion* *Beyond Units: Economic Benefits of the Federal Home Loan Bank’s Affordable Housing Program Additional $8.3 Billion local economic Impact* Stimulates Real Estate Activity Housing Bank funds circulate through the economy of your local communities multiple times

  14. Value and Impact to Shareholder Financial Institutions • Business Opportunities • Commercial / construction loans • First mortgage origination • Reduces loan risk • Public perception • CRA and compliance friendly • Stimulates real estate activity and economic development

  15. Leverages AHP to assist first time homebuyers Virginia Success Stories • Village Bank, Richmond, VA 15

  16. Virginia Success Stories Union First Market Bank, Ruther Glen, VA • “The Federal Home Loan Bank has help realized the dream of persons with disabilities gaining access to affordable and accessible housing in King George County.  We could not have done it without you!” - Fronce Wardlaw, Project FAITH, Inc. Virginia Heritage, Vienna, VA “We are a big fan of the Federal Home Loan Bank of Atlanta. They were critical in helping us establish our mortgage operation.  We see the strategic marketing advantage of using AHP programs.  We just got done with a Fair Lending review with our regulator who was very pleased with Virginia Heritage Bank’s first time homebuyer activity.” - Richard Hutchison, Chief Mortgage Officer, Virginia Heritage Bank 16

  17. Just Announced! Virginia Winning Projects in 2013 • Virginia Projects were awarded $2,886,789 in affordable housing funding for the 2013 round • 447 rental units funded • Leveraging $55,331,371 in total development - 19:1 leveraging • Armstrong Place, Lynchburg, VA • Member: Community Capital Bank of Virginia • Sponsor: Rush Lifetime Homes • AHP Amount: $195,477 for 27 rental units • Total Development Cost: $6,232,771 • (28) 1- and 2-bedroom affordable units for special needs residents • Pine Ridge Apartments, Louisa VA • Member: EagleBank • Sponsor: REBJ, Inc. with Telamon Corporation • AHP Amount: $265,000 for 27 rental units • Total Development Cost: $2,680,171 • Preservation and rehab of two-story garden style buildings

  18. Just Announced! Virginia Winning Projects in 2013 • Lovingston Ridge,Lovinston, VA • Member: Branch Banking and Trust Company • Sponsor: Southeastern Housing Preservation, Inc. • AHP Amount: $250,000 for 64 rental units • Total Development Cost: $5,491,191 • Acquisition and rehabilitation of 64 units for low- and very-low income residents • Crescent Square, Virginia Beach, VA • Member: Branch Banking and Trust Company • Sponsor: Virginia Supportive Housing • AHP Amount: $500,000 for 80 rental units • Total Development Cost: $10,216,352 • Mixed-income community with support services for homeless and low-income residents

  19. Just Announced! Virginia Winning Projects in 2013 • New River Gardens II, Radford, VA • Member: Branch Banking and Trust Company • Sponsor: Southeastern Housing Preservation, Inc. • AHP Amount: $346,312 for 44 rental units • Total Development Cost: $3,912,392 • Acquisition and rehabilitation for units targeted to very-low income families • Edenbrook Park, Crozet, VA • Member: Bank of America, National Association • Sponsor: Humanities Foundation, Inc. • AHP Amount: $500,000 for 84 units • Total Development Cost: $11,765,882 • 84 homes targeted to low- and moderate-income families

  20. Just Announced! Virginia Winning Projects in 2013 • Puddledock Place, Prince George, VA • Member: Bank of America, National Association • Sponsor: Humanities Foundation, Inc. • AHP Amount: $500,000 for 84 units • Total Development Cost: $11,600,873 • Acquisition of 84 homes in five buildings with a new community building • Hillside Apartments, Pearisburg, VA • Member: Community Capital Bank of Virginia • Sponsor: Pax-Edwards, LLC with Green Trust Alliance • AHP Amount: $330,000 for 36 rental units • Total Development Cost: $3,431,739 • Acquisition and rehabilitation of 37 1-, 2-, and 3-bedroom units

  21. What’s Next for AHP Competitive • New Veterans Housing category • 5 points for projects that reserve 10% of the units for Veterans • 2014 AHP Competitive Round Schedule • Round Opens January 14 • Applications Due February 13 • Award Announcements by early June

  22. What’s Next for AHP Competitive (cont.) • 3-Year Schedule

  23. Affordable Housing Woods at Yorktown Yorktown, VA AHP Investment $354,000 Total Development Cost $7,203,459 Affordable Housing Boaz and Ruth Homes IRichmond, VA AHP Investment $190,000 Total Development Cost $1,420,000 Affordable Housing Crispus Attucks Apartments Exmore, VA AHP Investment $110,000 Total Development Cost $3,998,016 Foreclosure Recovery Khella FamilyMidlothian, VA AHP Investment $12,000 Sales Price $170,000 Affordable Housing Christopher Place Academy Baltimore, MD AHP Investment $500,000 Total Development Cost $4,303,020 Energy Weatherization Lamas FamilyMc Gaheysville, VA AHP Investment $11,331 Hard Cost $9,443 Soft Cost $1,888 FHLBank Atlanta The Community Dividend at Work 23

More Related