 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
News Release
June 1, 2009
Federal Home Loan Bank of San Francisco Awards $30.3 Million in Affordable Housing Program Grants in Six States
San Francisco–The Federal Home Loan Bank of San Francisco today awarded $30.3 million in Affordable Housing Program (AHP) grants in the first round of the 2009 competition. The AHP grants, awarded to 42 projects that address the unique needs of individual communities, will produce 2,558 affordable housing units in Arizona, California, Illinois, Nevada, Texas, and Washington.
“Our AHP is a vital part of public-private efforts to build and sustain strong, stable communities, especially in an unstable economy,” said Jim Yacenda, Vice President and Community Investment Officer at the Federal Home Loan Bank of San Francisco. “These grants serve as a catalyst for our members and their community partners to develop creative, effective solutions that give both renters and first-time homebuyers the opportunity to have an affordable place to call home.”
Designed to be a flexible source of gap financing, the Bank’s competitive AHP provides grants to assist in the purchase, construction, or rehabilitation of housing for lower-income households. The Bank’s member financial institutions, working in partnership with community-based housing sponsors or developers, submit applications for specific projects and programs twice a year. Since the inception of the AHP in 1990, the Bank has awarded $554.7 million in AHP grants to create 90,433 affordable homes and apartments in the Bank’s three-state region of Arizona, California, Nevada, as well as other states served by the Bank’s members.
AHP 2009 Round A Results
In this competitive round, eight AHP grants went to affiliates of Habitat for Humanity International. One of those awards will support the purchase and rehabilitation of foreclosed homes in the San Francisco Bay Area, for resale to low-income families.
Four awards went to first-time participants in the Bank’s AHP competitions: California members Bank of Manhattan in El Segundo, Golden Valley Bank in Chico, Oak Valley Community Bank in Oakdale, and Torrey Pines Bank in San Diego.
Arizona communities that will benefit from the AHP grants announced today are: Flagstaff, San Luis, Tucson, and Wilcox. In California, AHP grants will benefit: Brawley, Chico, Coachella, Desert Hot Springs, East Palo Alto/Menlo Park, Fremont, Indio, Long Beach, Los Angeles, Modesto, Morgan Hill, Oakland, Pacoima, Palmdale, San Diego, San Francisco, Santa Clara, Sebastopol, Thermal, and Windsor. AHP awards will assist the community of Reno in Nevada. Additional recipient communities include: Austin, Texas; Chicago, Illinois; and Spokane, Washington.
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, credit unions, savings institutions, thrift and loans, and insurance companies headquartered in Arizona, California, and Nevada.
Contact:
Mary Long, (415) 616-2556
longm@fhlbsf.com
Amy Stewart, (415) 616-2605
stewarta@fhlbsf.com
|
|
|
|
|
|
News Release
June 1, 2009
Federal Home Loan Bank of San Francisco Awards $30.3 Million in Affordable Housing Program Grants in Six States
San Francisco–The Federal Home Loan Bank of San Francisco today awarded $30.3 million in Affordable Housing Program (AHP) grants in the first round of the 2009 competition. The
AHP grants, awarded to 42 projects that address the unique needs of individual communities, will produce 2,558 affordable housing units in Arizona, California, Illinois, Nevada, Texas, and Washington.
“Our AHP is a vital part of public-private efforts to build and sustain strong, stable communities, especially in an unstable economy,” said Jim Yacenda, Vice President and Community Investment Officer at the Federal Home Loan Bank of San Francisco. “These grants serve as a catalyst for our members and their community partners to develop creative, effective solutions that give both renters and first-time homebuyers the opportunity to have an affordable place to call home.”
Designed to be a flexible source of gap financing, the Bank’s competitive AHP provides grants to assist in the purchase, construction, or rehabilitation of housing for lower-income households. The Bank’s member financial institutions, working in partnership with community-based housing sponsors or developers, submit applications for specific projects and programs twice a year. Since the inception of the AHP in 1990, the Bank has awarded $554.7 million in AHP grants to create 90,433 affordable homes and apartments in the Bank’s three-state region of Arizona, California, Nevada, as well as other states served by the Bank’s members.
AHP 2009 Round A Results
In this competitive round, eight AHP grants went to affiliates of Habitat for Humanity International. One of those awards will support the purchase and rehabilitation of foreclosed homes in the San Francisco Bay Area, for resale to low-income families.
Four awards went to first-time participants in the Bank’s AHP competitions: California members Bank of Manhattan in El Segundo, Golden Valley Bank in Chico, Oak Valley Community Bank in Oakdale, and Torrey Pines Bank in San Diego.
Arizona communities that will benefit from the AHP grants announced today are: Flagstaff, San Luis, Tucson, and Wilcox. In California, AHP grants will benefit: Brawley, Chico, Coachella, Desert Hot Springs, East Palo Alto/Menlo Park, Fremont, Indio, Long Beach, Los Angeles, Modesto, Morgan Hill, Oakland, Pacoima, Palmdale, San Diego, San Francisco, Santa Clara, Sebastopol, Thermal, and Windsor. AHP awards will assist the community of Reno in Nevada. Additional recipient communities include: Austin, Texas; Chicago, Illinois; and Spokane, Washington.
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, credit unions, savings institutions, thrift and loans, and insurance companies headquartered in Arizona, California, and Nevada.
Contact:
Mary Long, (415) 616-2556
longm@fhlbsf.com
Amy Stewart, (415) 616-2605
stewarta@fhlbsf.com
© 2000-2012 Federal Home Loan Bank of San Francisco
