The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) board of directors has awarded $365,000 as part of its 2019 Affordable Housing Program to Talbot House Ministries to complete the renovation of the Vermont Place Apartments located at 912 and 920 N Vermont Avenue.
With this award, Talbot House Ministries has now exceeded its fundraising goal of $600,000, the minimum estimated cost of renovating the sixteen studio apartments and laundry facilities. While its goal and deadline have been reached, Talbot House Ministries continues to accept donations to purchase appliances and furniture, and to support the ongoing maintenance of the properties. Those wishing to contribute to this project may do so here. Talbot House will be sharing the progress of this renovation effort on an ongoing basis.
“We are incredibly grateful to the Federal Home Loan Bank of Atlanta, BB&T, our member bank, and the GiveWell Community Foundation for supporting this critical affordable housing initiative in Lakeland,” says Dr. Brenda Reddout, Executive Director of Talbot House Ministries. “The sixteen units we renovate will expand our ability to serve working, low-income individuals, veterans, and the disabled in our community.”
Since 1990, FHLBank Atlanta has awarded more than $1.01 billion in funding for more than 158,000 affordable housing units. This investment leverages more than $16.57 billion in affordable housing funding for low- and moderate-income families.