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News ReleaseFor Immediate ReleaseJune 18, 2007 Federal Home Loan Bank of San Francisco Awards $34.7 Million in Affordable Housing Grants in Arizona, California, Florida, Illinois, Nevada, and Texas San Francisco – The Federal Home Loan Bank of San Francisco today announced $34.7 million in Affordable Housing Program (AHP) grants in the first round of the 2007 competition. The AHP grants will support 80 projects and generate 4,413 affordable housing units in Arizona, California, Florida, Illinois, Nevada, and Texas. “These projects represent the second highest number of grants we’ve ever made since our AHP began in 1990,” said Jim Yacenda, Vice President and Community Investment Officer at the Federal Home Loan Bank of San Francisco. “The very active participation of our members and their community partners in the AHP shows the commitment these organizations have to creating viable housing opportunities for families and individuals in need.” The following Arizona communities will benefit from the grants announced today: Avondale, Payson, Phoenix, San Luis, Sierra Vista, Somerton, South Tucson, Tucson, and Yuma. In California, the following communities will be supported: Alameda, Anaheim, Bakersfield, Berkeley, Brawley, Buena Park, Calipatria, Camarillo, Coachella, Compton, Corning, Daly City, Elk Grove, Fresno, Glendale, Livermore, Los Angeles, Los Banos, Lower Lake, Marina, Maywood, Mecca, National City, Oakland, Oakley, Orland, Oxnard, Pittsburg, Plumas Lake, Redding, Rialto, Rohnert Park, Rosamond, Sacramento, Salton City, San Diego, San Francisco, San Rafael, Santa Barbara, Santa Cruz, Santa Paula, Santa Rosa, Shafter, Ukiah, Walnut Creek, Wilmington, and Woodlake. In Nevada, the awards will assist the communities of Henderson, Las Vegas, North Las Vegas, and Reno. Additional recipient communities include: West Palm Beach, Florida; Chicago, Illinois; and Austin, Texas. Designed as a flexible, competitive funding source, the AHP provides grants and below-market rate loans for single-family and multifamily projects targeting very low- to moderate-income households. The Bank’s 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 $441.2 million in AHP grants to create 77,821 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. 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: Cynthia Lopez, (415) 616-2757 lopezc@fhlbsf.com |
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