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Press ReleaseFor Immediate ReleaseMay 31, 2005 View the AHP Round A project descriptions (PDF) Federal Home Loan Bank of San Francisco Awards $21.8 Million in Affordable Housing Grants in Arizona, California, Nevada, and Texas San Francisco--The Federal Home Loan Bank of San Francisco today announced approximately $21.8 million in Affordable Housing Program (AHP) grants in the first round of the 2005 competition. The AHP grants will support 49 projects and generate nearly 3,056 affordable housing units in Arizona, California, Nevada, and Texas. “We are pleased by the commitment of our members and their community partners to address the severe affordable housing challenge facing our cities, towns, and reservations,” said Jim Yacenda, Vice President and Community Investment Officer at the Federal Home Loan Bank of San Francisco. “We are also gratified that our partners continue to value and pursue our AHP as a vital resource in their efforts.” The following Arizona communities will benefit from the grants announced today: Guadalupe, Kaibeto, Phoenix, San Luis, and Superior. In California, the following communities will benefit: Arroyo Grande, Bakersfield, Brentwood, Cathedral City, Chula Vista, Claremont, Desert Hot Springs, Fontana, Fort Bragg, Garberville, Lancaster, Linda, Los Angeles, McFarland, Modesto, Norwalk, Novato, Oakland, Parlier, Paso Robles, Redding, Richmond, Sacramento, San Diego, San Francisco, San Jose, Santa Barbara, Santa Cruz, Santa Paula, Santa Rosa, Signal Hill, Turlock, and Ventura. Reno, Nevada, and Houston, Texas, will also benefit from the Bank’s AHP grants. Designed as a flexible, competitive funding source, the AHP provides grants and below-market loans for single-family and multifamily projects targeting very low- to moderate-income households. Bank member financial institutions, in partnership with community-based housing sponsors, submit applications for specific projects and programs twice a year. Since the program’s inception in 1990, the Bank has awarded approximately $366 million in AHP grants to create over 68,000 affordable housing units in Arizona, California, Nevada, and other states served by the Bank’s members. 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 banks, credit unions, savings institutions, thrift and loan companies, and insurance companies headquartered in Arizona, California, and Nevada. Contact: Tracy Fine, (415) 616-2707 finet@fhlbsf.com Cynthia Lopez, (415) 616-2757 lopezc@fhlbsf.com |
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