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News ReleaseFor Immediate ReleaseApril 21, 2006 Rep. Lantos and FHLBank San Francisco Team Up With Peninsula Habitat for Humanity to Build Four Affordable Homes in Daly City Peninsula Habitat for Humanity Celebrates Construction of 100th Home (Daly City, CA) – Rep. Tom Lantos (D - CA) and 30 employees of the Federal Home Loan Bank of San Francisco helped to build four affordable new homes in Daly City on Thursday, April 20. The event was part of a four-day construction campaign hosted by FHLBank San Francisco with Congress Building America and Peninsula Habitat for Humanity. “I tip my hat to Habitat for Humanity and the Federal Home Loan Bank of San Francisco for working together to create homeownership opportunities for working families throughout the 12th Congressional District,’’ said Rep. Lantos. “Their effort is particularly significant since the median home price on the Peninsula is over $700,000. . . . These types of projects make homeownership a reality for more families and individuals.” More than 50 people including local housing activists, community leaders and employees from the FHLBank San Francisco participated. The FHLBank San Francisco sponsored the event, and has contributed a $48,000 Affordable Housing Program grant to the project through Greater Bay Bank, an FHLBank member. Other Bay Area organizations that underwrote the cost of the new homes include Congress Building America, Universal Paragon Corporation, First Horizon Home Loans, CHS Development Group, and Cathay Bank. The land for the homes was donated by the Bay Area Rapid Transit District. “We are truly proud of our work with Habitat for Humanity and look forward to many more years of building homes for families throughout the country,” said Mr. Ross Kari, Executive Vice President and Chief Operating Officer of the Federal Home Loan Bank of San Francisco. “When you open the door to your first home, you are opening the door to the American Dream.” Started in late fall 2005, the Daly City development is now in the final building phase, and four families will soon move into their new homes. Peninsula Habitat for Humanity’s four-home development in Daly City is one of two 2006 West Coast projects. With the help of affordable housing grants from the FHLBank San Francisco, Peninsula Habitat for Humanity is planning to build another 19 homes throughout the Peninsula over the next year. Since 1991, the FHLBank San Francisco has awarded over $8 million to Habitat for Humanity affiliates in Arizona, California, and Nevada to help create 1,031 single-family homes. About the Federal Home Loan Bank of San Francisco 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’s members—its shareholders and customers—are commercial banks, credit unions, savings institutions, thrift and loans, and insurance companies headquartered in Arizona, California, and Nevada. About Peninsula Habitat for Humanity Founded in 1989, Peninsula Habitat for Humanity’s mission is to create stronger communities on the San Francisco Peninsula by building quality, affordable homes for low-income families through volunteer labor, community support and donated funds. About Congress Building America Congress Building America (CBA) is a nationwide public-private-nonprofit partnership between Habitat for Humanity International, the U.S. Congress, and national corporate and nonprofit sponsors. CBA partners members of Congress with local Habitat for Humanity affiliates to build simple, decent houses. Through this partnership, CBA provides an opportunity to bring the issue of affordable decent housing to the conscience of the nation and strengthens the network of affordable housing advocates in Congress. Contact: Kevin Blackburn, (415) 616-2572 blackbur@fhlbsf.com |
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