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News Release

For Immediate Release   

May 30, 2007
 
Rep. Grijalva and Federal Home Loan Bank of San Francisco Host
Grand Opening of Curley School Artisan Housing
 
Ribbon-Cutting Ceremony Marks Phase I Completion of the $8.9 Million Historic Renovation Project
 
Ajo, AZ.—Rep. Raúl M. Grijalva (D-7th AZ) and the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today celebrated the grand opening of the Curley School Artisan Lofts, an innovative housing development of 30 new and affordable live-and-work rental units for low-income artisans and artists in Ajo, Arizona.  State and local public officials joined more than 200 residents, community leaders and housing activists at the ribbon-cutting ceremony.
 
“The Federal Home Loan Bank of San Francisco is unique in that many organizations that come into our communities do so because of what they want to get out of it. The Bank, however, continues to give back again and again,” Rep. Grijalva said during the ceremony.  “I am pleased to work with the Federal Home Loan Bank of San Francisco to address the affordable housing needs throughout the state of Arizona.”
 
The long abandoned Curley Public School buildings were constructed in 1919 and listed on the National Register of Historic Places.  Now, their conversion to artisan lofts is a key component of an $8.9 million restoration project of the seven-acre campus. The project is designed to spur economic development in the former copper mining town through the cultural preservation of the arts.  Situated in the heart of town, the mixed-use development includes affordable and market-rate units for sale, offices, a youth and senior center, and a restored community auditorium.
 
Residents will be offered business-development training to help them sell their artwork and crafts. Other services include employment counseling, case management, pre-purchase homeownership counseling, health and youth programs, and other support services.
 
“To live in an environment surrounded by art in a quiet community is excellent,” said Marri Kaestle, an illustrator and sculptor who is scheduled to move from Tucson into the Curley School Artisan Lofts in early June.  “I’m looking forward to the opportunity to combine my private life with public service to help revitalize the {Ajo} community.”
 
Ms. Kaestle’s career as an artist includes previously working with the late Jim Henson, a widely acclaimed television producer and creator of the Muppets.
 
Twenty of the 30 available lofts are currently occupied by a diverse group of artists and artisans from across the country.  Residents are being selected from a pool of rental housing applicants that meet the U.S. Department of Housing and Urban Development guidelines as low-income renters. Rents are based on a sliding scale of affordability and the selected unit layout.
 
Dwight Alexander, Vice President of Legislative and Regulatory Affairs at FHLBank San Francisco, cited the Curley School Artisan Lofts as a prime example of the important role that FHLBank San Francisco plays in providing affordable housing for individuals and families from diverse backgrounds.
     
“The Curley School Artisan Lofts project is an exceptional model of how our member institutions can use our programs to make a difference in communities,” Mr. Alexander said. “Our goal is to expand the availability of affordable housing, as well as increase opportunities for families and individuals to enjoy the benefits of homeownership.  This project exemplifies our commitment.”
 
The project was completed by the International Sonoran Desert Alliance (ISDA), a non-profit organization dedicated to creating development projects that preserve the environment, culture, and economy of the Sonoran Desert.  ISDA and Bank of Tucson, a member of the FHLBank San Francisco, received an Affordable Housing Program (AHP) grant for the project. National Bank of Arizona, also a member of the Bank, provided mortgage financing. Additional financing was provided by the Pima County HOME Loan program and the State of Arizona Housing Trust Fund, and tax credits from Enterprise Community Investment. 
 
Since 1990, FHLBank San Francisco’s Affordable Housing Program has awarded $45.3 million in grants to projects in Arizona.
 
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’s members – its shareholders and customers – are commercial banks, savings institutions, credit unions, thrift and loans, and insurance companies headquartered in Arizona, California, and Nevada. The Bank is one of 12 regional banks in the Federal Home Loan Bank System, which is celebrating 75 years of service to members and communities this year. 
 
Contact:
Kevin Blackburn, (415) 616-2572
blackbur@fhlbsf.com
© 2000-2008 Federal Home Loan Bank of San Francisco
Federal Home Loan Bank of San Francisco

News Release

For Immediate Release   

May 30, 2007
 
Rep. Grijalva and Federal Home Loan Bank of San Francisco Host
Grand Opening of Curley School Artisan Housing
 
Ribbon-Cutting Ceremony Marks Phase I Completion of the $8.9 Million Historic Renovation Project
 
Ajo, AZ.—Rep. Raúl M. Grijalva (D-7th AZ) and the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today celebrated the grand opening of the Curley School Artisan Lofts, an innovative housing development of 30 new and affordable live-and-work rental units for low-income artisans and artists in Ajo, Arizona.  State and local public officials joined more than 200 residents, community leaders and housing activists at the ribbon-cutting ceremony.
 
“The Federal Home Loan Bank of San Francisco is unique in that many organizations that come into our communities do so because of what they want to get out of it. The Bank, however, continues to give back again and again,” Rep. Grijalva said during the ceremony.  “I am pleased to work with the Federal Home Loan Bank of San Francisco to address the affordable housing needs throughout the state of Arizona.”
 
The long abandoned Curley Public School buildings were constructed in 1919 and listed on the National Register of Historic Places.  Now, their conversion to artisan lofts is a key component of an $8.9 million restoration project of the seven-acre campus. The project is designed to spur economic development in the former copper mining town through the cultural preservation of the arts.  Situated in the heart of town, the mixed-use development includes affordable and market-rate units for sale, offices, a youth and senior center, and a restored community auditorium.
 
Residents will be offered business-development training to help them sell their artwork and crafts. Other services include employment counseling, case management, pre-purchase homeownership counseling, health and youth programs, and other support services.
 
“To live in an environment surrounded by art in a quiet community is excellent,” said Marri Kaestle, an illustrator and sculptor who is scheduled to move from Tucson into the Curley School Artisan Lofts in early June.  “I’m looking forward to the opportunity to combine my private life with public service to help revitalize the {Ajo} community.”
 
Ms. Kaestle’s career as an artist includes previously working with the late Jim Henson, a widely acclaimed television producer and creator of the Muppets.
 
Twenty of the 30 available lofts are currently occupied by a diverse group of artists and artisans from across the country.  Residents are being selected from a pool of rental housing applicants that meet the U.S. Department of Housing and Urban Development guidelines as low-income renters. Rents are based on a sliding scale of affordability and the selected unit layout.
 
Dwight Alexander, Vice President of Legislative and Regulatory Affairs at FHLBank San Francisco, cited the Curley School Artisan Lofts as a prime example of the important role that FHLBank San Francisco plays in providing affordable housing for individuals and families from diverse backgrounds.
     
“The Curley School Artisan Lofts project is an exceptional model of how our member institutions can use our programs to make a difference in communities,” Mr. Alexander said. “Our goal is to expand the availability of affordable housing, as well as increase opportunities for families and individuals to enjoy the benefits of homeownership.  This project exemplifies our commitment.”
 
The project was completed by the International Sonoran Desert Alliance (ISDA), a non-profit organization dedicated to creating development projects that preserve the environment, culture, and economy of the Sonoran Desert.  ISDA and Bank of Tucson, a member of the FHLBank San Francisco, received an Affordable Housing Program (AHP) grant for the project. National Bank of Arizona, also a member of the Bank, provided mortgage financing. Additional financing was provided by the Pima County HOME Loan program and the State of Arizona Housing Trust Fund, and tax credits from Enterprise Community Investment. 
 
Since 1990, FHLBank San Francisco’s Affordable Housing Program has awarded $45.3 million in grants to projects in Arizona.
 
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’s members – its shareholders and customers – are commercial banks, savings institutions, credit unions, thrift and loans, and insurance companies headquartered in Arizona, California, and Nevada. The Bank is one of 12 regional banks in the Federal Home Loan Bank System, which is celebrating 75 years of service to members and communities this year. 
 
Contact:
Kevin Blackburn, (415) 616-2572
blackbur@fhlbsf.com



© 2000-2008 Federal Home Loan Bank of San Francisco