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Press Release

For Immediate Release
 
May 2, 2005
 
Rep. Miller and Federal Home Loan Bank of San Francisco Open $13.8 Million Senior Houisng Complex in Pittsburgh
 
Project Made Possible with $500,000 Grant from FHLBank San Francisco Affordable Housing Program
 
PITTSBURG, CA--The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and Rep. George Miller (D-CA) hosted the grand opening of Presidio Village Senior Housing on Friday, April 29, 2005. More than 200 residents, community leaders, and lenders celebrated the completion of the $13.8 million housing complex, which will provide 104 new units for very low- and low-income seniors.
 
The project, sponsored by Pacific Community Services, received financing from the FHLBank San Francisco, the Contra Costa HOME Program, the Pittsburg Redevelopment Agency, and the U.S. Department of Housing and Urban Development. Bank of the West, a member of the FHLBank San Francisco, sponsored the project’s participation in the FHLBank San Francisco’s Affordable Housing Program (AHP). Local leaders, including Pittsburg Mayor Nancy Parent, City Councilman William Glynn, and Contra County Supervisor Federal Glover, noted that the development would help fill the need for quality housing for low-income seniors.
 
"We build communities by providing services for the young, the elderly, and the less fortunate," said Rep. Miller. "The Federal Home Loan Bank of San Francisco’s Affordable Housing Program was a key component in creating this project and in expanding housing opportunities in our communities."
 
Tom LeFluer, Executive Director for Pacific Community Services, Inc., noted that FHLBank San Francisco’s AHP contributed a $500,000 grant that was crucial to launching the development. "The Federal Home Loan Bank of San Francicisco was the first money that we received for the project," Mr. LeFluer said. "We were able to leverage those funds to secure the total cost of this project."
 
Dwight Alexander, Vice President of Legislative and Regulatory Affairs at FHLBank San Francisco, echoed Rep. Miller’s sentiments, noting that Presidio Village is a good example of how public and private partnerships can help provide affordable housing to those who need it most.
 
"This is a perfect example of a true public private partnership," Mr. Alexander said. "It exemplifies the role that our member financial institutions play in communities across the nation. We help create affordable housing."
 
Following the opening ceremonies, the event concluded with a luncheon and tour of the senior housing community, which is located on a site donated by the City of Pittsburg and its redevelopment agency. All units are 540 square feet, with one bedroom, a bathroom, and kitchen. Each unit has a separate patio or balcony area with storage. Presidio Village is a part of a development area designated to serve seniors and is located adjacent to the city’s newly constructed senior center.
 
About the Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank serves and is owned by 358 commercial bank, savings institution, credit union, thrift and loan, and insurance company members headquartered in Arizona, California, and Nevada.
 
Contact: Dwight Alexander, (415) 616-2676
alexandd@fhlbsf.com



© 2000-2008 Federal Home Loan Bank of San Francisco
Federal Home Loan Bank of San Francisco

Press Release

For Immediate Release
 
May 2, 2005
 
Rep. Miller and Federal Home Loan Bank of San Francisco Open $13.8 Million Senior Houisng Complex in Pittsburgh
 
Project Made Possible with $500,000 Grant from FHLBank San Francisco Affordable Housing Program
 
PITTSBURG, CA--The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and Rep. George Miller (D-CA) hosted the grand opening of Presidio Village Senior Housing on Friday, April 29, 2005. More than 200 residents, community leaders, and lenders celebrated the completion of the $13.8 million housing complex, which will provide 104 new units for very low- and low-income seniors.
 
The project, sponsored by Pacific Community Services, received financing from the FHLBank San Francisco, the Contra Costa HOME Program, the Pittsburg Redevelopment Agency, and the U.S. Department of Housing and Urban Development. Bank of the West, a member of the FHLBank San Francisco, sponsored the project’s participation in the FHLBank San Francisco’s Affordable Housing Program (AHP). Local leaders, including Pittsburg Mayor Nancy Parent, City Councilman William Glynn, and Contra County Supervisor Federal Glover, noted that the development would help fill the need for quality housing for low-income seniors.
 
"We build communities by providing services for the young, the elderly, and the less fortunate," said Rep. Miller. "The Federal Home Loan Bank of San Francisco’s Affordable Housing Program was a key component in creating this project and in expanding housing opportunities in our communities."
 
Tom LeFluer, Executive Director for Pacific Community Services, Inc., noted that FHLBank San Francisco’s AHP contributed a $500,000 grant that was crucial to launching the development. "The Federal Home Loan Bank of San Francicisco was the first money that we received for the project," Mr. LeFluer said. "We were able to leverage those funds to secure the total cost of this project."
 
Dwight Alexander, Vice President of Legislative and Regulatory Affairs at FHLBank San Francisco, echoed Rep. Miller’s sentiments, noting that Presidio Village is a good example of how public and private partnerships can help provide affordable housing to those who need it most.
 
"This is a perfect example of a true public private partnership," Mr. Alexander said. "It exemplifies the role that our member financial institutions play in communities across the nation. We help create affordable housing."
 
Following the opening ceremonies, the event concluded with a luncheon and tour of the senior housing community, which is located on a site donated by the City of Pittsburg and its redevelopment agency. All units are 540 square feet, with one bedroom, a bathroom, and kitchen. Each unit has a separate patio or balcony area with storage. Presidio Village is a part of a development area designated to serve seniors and is located adjacent to the city’s newly constructed senior center.
 
About the Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank serves and is owned by 358 commercial bank, savings institution, credit union, thrift and loan, and insurance company members headquartered in Arizona, California, and Nevada.
 
Contact: Dwight Alexander, (415) 616-2676
alexandd@fhlbsf.com

© 2000-2008 Federal Home Loan Bank of San Francisco