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News Releases |
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News ReleaseFor Immediate ReleaseMay 31, 2006 Federal Home Loan Bank of San Francisco Awards $23.4 Million in Affordable Housing Grants in Arizona, California, Florida, Illinois, Nevada, Oregon, Tennessee, and Texas San Francisco – The Federal Home Loan Bank of San Francisco today announced $23.4 million in Affordable Housing Program (AHP) grants in the first round of the 2006 competition. The AHP grants will support 60 projects and generate 3,679 affordable housing units in Arizona, California, Florida, Illinois, Nevada, Oregon, Tennessee, and Texas. “We are pleased by the commitment of our members and their community partners to addressing the severe affordable housing challenge facing our cities, towns, and neighborhoods,” said Jim Yacenda, Vice President and Community Investment Officer at the Federal Home Loan Bank of San Francisco. “The AHP encourages community organizations, financial institutions, and local housing agencies to work together to create viable housing opportunities for families and individuals in need.” The following Arizona communities will benefit from the grants announced today: Glendale, Lake Havasu, Phoenix, San Luis, Show Low, Somerton, Surprise, and Tucson. In California, the following communities will benefit: American Canyon, Anaheim, Arcata, Bakersfield, Bell Gardens, Brisbane, Chico, Corning, Crescent City, Los Angeles, Mill Valley, Oakland, Oakley, Pasadena, Redding, Redwood City, Richmond, Riverside, Rohnert Park, San Fernando, San Francisco, Santa Clara, Santa Cruz, Santa Rosa, Sebastopol, South San Francisco, Stockton, Sylmar, Thermalito, Walnut Creek, Windsor, and Woodland. Palm Beach County, Florida; Chicago, Illinois; Las Vegas, Nevada; Portland, Oregon; Memphis, Tennessee; and Austin, Texas will also benefit from the 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 $397 million in AHP grants to create over 72,000 affordable housing units in Arizona, California, Nevada, and other states served by the Bank’s members. The Federal Home Loan Bank of San Francisco 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. Contact: Amy Stewart, (415) 616-2605 stewarta@fhlbsf.com List of Award Recipients (PDF) |
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