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News ReleaseFor Immediate ReleaseAugust 28, 2006 Rep. Lee and FHLBank San Francisco Kick Off Round B of 2006 Affordable Housing Program Local Developers Learn How To Compete for $29 Million Available Oakland, CA – Rep. Barbara Lee (D-CA) and representatives from the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) met with local housing developers to outline the application process to compete for the $29 million available in the second and final round of the 2006 Affordable Housing Program (AHP). More than 35 local developers and banking leaders were in attendance at World Savings Bank’s headquarters in Oakland on Friday, August 25, 2006, to learn how to apply for funding through the FHLBank San Francisco’s member financial institutions. “The 9th Congressional District leads the nation in the collaboration between public, private, and nonprofit organizations in the development of affordable housing,” Rep. Lee said. “Through the Affordable Housing Program of the Federal Home Loan Bank of San Francisco, more than $18.4 million has been awarded to 66 projects in the district since 1990.” Representative Lee praised local community housing advocates, lenders, and developers for the recent completion of Crossroads, a transitional housing complex that is providing 125 beds for people living with HIV/AIDS. The complex, partially funded by a $1 million AHP grant held its grand opening this past Tuesday. In addition to the Crossroads development, Oakland and surrounding areas have received more than $11 million from AHP over the last 5 years, producing projects such as Chestnut Linden Court, Foothill Family Apartments, and Mandela Gateway. “The AHP plays an important role in ensuring that families and individuals have access to quality, affordable housing, whether they own or rent,’’ said Kevin Blackburn, Regional Manager, Legislative & Regulatory Affairs at the FHLBank San Francisco. “It allows us to forge public-private partnerships to address the critical need for everyone to live in a community where they can thrive.” 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. ### Contact: Kevin Blackburn, (415) 616-2572 blackbur@fhlbsf.com |
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