How the Federal Home Loan Bank of Atlanta Can Assist its Members in Financing Supportive Housing Arthur L. Fleming Senior Vice President and Director of Community Investment Services

Our Discussion Today FHLBank Atlanta Overview FHLBank Atlanta Affordable Housing Program (AHP) Products FHLBank Atlanta AHP Supportive Housing Connecting the Dots – Scale and Impact North Carolina Supportive Housing Deals How Can We Help You Succeed?

FHLBank System

FHLBank Atlanta Members Data as of September 21, 2016

Products and Services Advances (Loans) Letters of Credit Interest-rate Risk Management Tools Cash Management Services AHP and Community Investment Program (CIP)

Value to Your Business and Your Community Affordable Housing Program (AHP) Commercial loan officers CRA officers Business development officers AHP Competitive – rental and ownership New construction/rehabilitation Single-family/multi-family Acquisition/owner-occupied Single-family mortgage loan officers CRA officers Business development officers AHP Set-aside – ownership only First-time Homebuyer Product (FHP) Community Partners Homebuyer Product (CPP) Foreclosure Recovery Homebuyer Product (FRP) Veterans Product Suite (VPP, RVPP, VRP, RVRP) Structured Partnership Products (SPP) Commercial loan officers CRA officers Business development officers Community Investment Program (CIP) and Economic Development Program (EDP) Discounted advance products for residential or economic development projects

FHLBank Atlanta AHP Scale and Impact Competitive Program $714.6 Million competitive funds awarded to create over 113,000 rental and homeownership opportunities for moderate-, low- and very low-income households since 1990 AHP Competitive Leverage Ratio – 1:13 AHP Set-aside Program $173.8 Million funded through AHP Set-aside products and supporting more than 25,500 units since 1997 AHP Set-aside Purchase Leverage Ratio – 1:20 Community Investment Program FHLBank Atlanta’s affordable housing program has had a great impact on community investment. Since 1990 we have funded over $692.6 million in our competitive program. This has provided over 109,000 housing opportunities for moderate, low and very low income households. And for every dollar we contribute there are on average $13 from other sources. Now although this training webinar is for the AHP Competitive program, we also wanted to share some results with you from our AHP Set-aside program. Since 1997 we have funded over $160 million in our Set-aside program. This has provided an additional 23,500 housing opportunities for moderate, low and very low income households. The result is a total impact of the affordable housing program, both Competitive and Set-aside, of over 133,000 units In addition the AHP, we have provided approximately $7.5 billion of Community Investment advances to our members. $7.6 Billion low-cost CICA advances supporting community economic initiatives and affordable housing development Economic Development Program *As of September 1, 2016

FHLBank Atlanta AHP Scale and Impact Profile September 2016

AHP Competitive Scale and Impact Comparison By Project Type, Awarded 1990-2016 Key Takeaway: Since AHP’s inception, 40% of AHP Competitive projects awarded are Rental Low Income Housing Tax Credit (LIHTC) Rental LIHTC projects have a significantly higher leverage ratio than other project types Project Type # Projects AHP Dev. Costs Leverage Rental - LIHTC 913 $341 million $7.1 billion 1:20 Ownership 809 $178 million $1.7 billion 1:9 Rental Non-LIHTC 556 $196 million $1.4 billion 1:6

AHP Competitive Scale and Impact Rental LIHTC vs AHP Competitive Scale and Impact Rental LIHTC vs. Rental Non-LIHTC, 1990-2016 Key Takeaway: Since AHP’s inception, 62% of Atlanta’s AHP Competitive rental projects awarded are LIHTC FHLBank Atlanta has awarded $340.6 million to LIHTC projects Project Type # Projects # Units AHP Rental - LIHTC 913 59,468 $340.6 million Rental Non-LIHTC 556 28,660 $195.6 million Total 1,469 88,128 $536.3 million

FHLBank Atlanta Supportive Housing Housing projects that include low- to moderate-income units reserved for individuals and families that are homeless, mentally or physically disabled, recovering from physical or substance abuse, or have HIV/AIDS. Project: Moore Place, Charlotte, NC Sponsor: Charlotte Center for Urban Ministry, Inc. $1 million AHP award for supportive housing for homeless residents AHP Rental Supportive Housing AHP Cumulative Impact

Supportive Housing Embedded in a Variety of AHP Transactions Rental (Income Producing) Types LIHTC Non-LIHTC multi-family Mixed-use Use of Funds Acquisition New construction and/ or rehabilitation Development soft costs Supportive Housing (Non Income Producing) Social service residential facilities Ownership Transactions Down-payment assistance Owner-occupied rehabilitation Project: Williams Square Apartments, Durham, NC AHP Investment: $160,000 (Direct Subsidy) / $316,000 AHP Advance Total Development Cost: $2,242,861 24 Units of Supportive Housing Project: New Hope, Winston-Salem, NC AHP Investment: $150,000 Total Development Cost: $1,499,021 10 Units of Supporting Housing

Scale of AHP Supportive Housing Projects, 1990-2016 NC 15% (178) 15% of the 1,178: AHP Projects awarded with Supportive Housing are located in North Carolina

% Total Projects With Supportive Housing Supportive Housing Rental LIHTC vs. Rental Non-LIHTC, 1990-2016 Project Type Total # Projects # Projects With Supportive Housing % Total Projects With Supportive Housing 1990-2016 Rental - LIHTC 913 475 52% Rental Non-LIHTC 556 402 72% Total 1,469 877 60%

% Total Projects With Supportive Housing Supportive Housing Rental LIHTC vs. Rental Non-LIHTC, 2012-2016 Over the last five years, 48.8% of all rental projects awarded include supportive housing units Project Type Total # Projects 2012-2016 # Projects With Supportive Housing % Total Projects With Supportive Housing 2010-2016 Rental - LIHTC 169 60 36% Rental Non-LIHTC 75 59 79% Total 244 119 48.8%

Rental Example Supportive Housing, New Construction Sanford, NC - 29 Very Low-income Units Construction Sources and Uses Total Costs AHP Member Other Sources Acquisition $100,000 Construction $1,464,367 $350,000 $198 $1,114,169 Soft Costs $193,717 $74,170 $119,547 Other Costs $103,000 Total Construction Budget $1,861,084 $277,368 $1,233,716 (10A04016)

Rental Example Supportive Housing for Homeless, New Construction Charlotte, NC - 85 Very Low-income Units Permanent Sources and Uses Total Costs AHP Member Other Sources Acquisition $169,833 Construction $4,357,300 $1,000,000 $61,600 $3,295,700 Soft Costs $1,243,565 $469,098 $774,467 Other Costs $469,302 Total Development Budget $6,240,000 $4,240,000 (10A04016)

Contact Us For More Information Rental Team Joel Brockmann Rental Production Manager James Monaghan Glenn Stewart Clarissa Weaver Richard Mauney Contact Us: 1.800.536.9650, option 3, option 1, option 3 Visit our website at www.fhlbatl.com

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