Press Release

View AHP Grant Recipients (PDF)

San Francisco – The Federal Home Loan Bank of San Francisco today announced approximately $19.3 million in Affordable Housing Program (AHP) grants in the first round of the 2004 competition. The AHP grants will support 51 projects and generate nearly 3,100 affordable housing units in Arizona, California, and Nevada.

"The AHP continues to evolve to address the impact that the high cost of housing in our District has on working families," said Jim Yacenda, Vice President and Community Investment Officer at the Federal Home Loan Bank of San Francisco. "The AHP has a history of bringing people together to find solutions to these housing affordability issues."

The following Arizona communities will benefit from the grants announced today: Cave Creek, Glendale, Phoenix, Quartzsite, and Tucson. In California, the following communities will benefit: Anderson, Brentwood, Cathedral City, Eureka, Forestville, Fremont, Los Alamos, Los Angeles, Oakland, Poway, Red Bluff, Richmond, San Diego, San Francisco, San Jose, San Pablo, Santa Paula, Santa Rosa, Santee, Stockton, Vacaville, Watsonville, Westminster, and Williams. In Nevada, Henderson and Las Vegas will benefit from these awards.

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 approximately $326 million to 1,282 projects, which provide rental and homeownership opportunities for more than 62,000 households in Arizona, California, Nevada, and other localities served by the Bank’s members.

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 serves and is owned by 337 commercial bank, savings institution, credit union, thrift and loan, and insurance company members headquartered in Arizona, California, and Nevada.

Contact:
Amy Stewart, (415) 616-2605
stewarta@fhlbsf.com

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