ATLANTA (PRWEB) February 26, 2023
Community Sustainability Enterprise (CSE) announced today that they have been awarded $25,000 in funding from Federal Home Loan Bank of Atlanta (FHLBank Atlanta), one of the 11 district banks in the Federal Home Loan Bank System.
The award is through the FHLBank Atlanta Heirs’ Property Prevention and Resolution Grant Initiative, announced last August. Funding through this initiative was made available to organizations which submitted pilot initiatives during the Heirs’ Property Prevention and Resolution Funders’ Forum, held on December 2, 2021.
“CSE is honored to be selected by FHLBank Atlanta to partner on this critical wealth building initiative,” said Deirdra Cox, President of Community Sustainability Enterprise. “This initiative raises awareness of the impact of heir’s property and helps strengthen the financial muscle mass of families and communities. Through this program, we will take bold strides to bridge the wealth gap in communities of color.”
Kirk Malmberg, President and Chief Executive Officer of FHLBank Atlanta, congratulated CSE on being selected for an award. “We are pleased to offer this award and we commend CSE for working to solve and prevent issues associated with heirs’ property,” said Malmberg.
Arthur Fleming, FHLBank Atlanta’s Senior Vice President and Director of Community Investment Services, joined in congratulating CSE and noted that aside from resolving heirs’ property issues, the goal of the initiative is to raise awareness among state and local governments, developers, and other organizations. “The funding we are providing to CSE will not only help provide tangible relief to families and communities impacted by heirs’ property, it will also help bring more attention to this issue and hopefully spur additional involvement from other key stakeholders that have a vested interest in resolving and preventing heirs’ property,” said Fleming.
Heirs’ property occurs when a real property owner dies without a will that designates a successor owner, or without a recorded deed. It also occurs when property is left to multiple beneficiaries, resulting in a fractured or tangled title that is unmarketable and, if left unresolved, prevents the ability to sell, collateralize, improve, or otherwise transfer the property. Heirs’ property is a barrier to the accumulation of generational wealth, leads to neighborhood blight, and is a pervasive issue that disproportionately impacts racial and ethnic minority, low-wealth, and distressed urban and rural communities.
CSE expects to use the award to spread awareness, cultivate partnerships and leverage funding from additional donors.
About Community Sustainability Enterprise
Community Sustainability Enterprise (CSE), an economic and community developed focused Georgia based 501c3, whose vision is cultivating inclusive communities who turn jobs into careers, financial literacy into wealth and collective success into generational change: producing an equitable economy. Community Sustainability Enterprise is in the business of transforming families, businesses, and neighborhoods into thriving households and financially sustainable communities, who generate wealth and pass on family legacies.
About the Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s member are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $7.3 billion in Affordable Housing Program funds, assisting more than one million households.