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Special Attention Bulletin

October 24, 2007         
Bulletin No. 1265
 
Notice of Community Support and
Community Investment Cash Advance Programs
 
Dear Chief Executive Officer:
 
We offer a variety of community investment programs and resources to help our member financial institutions support affordable housing and economic development in their areas. Through our members, we provide the following targeted grant and credit programs to build vibrant neighborhoods and communities. 
 
Affordable Housing Program (AHP)
The Bank makes funds available to members to support affordable homeownership and rental projects in their communities. AHP grants are awarded twice a year through a competitive process, with application deadlines in April and October.
 
Individual Development and Empowerment Account (IDEA) Program
The IDEA Program provides matching grants to help very low- to moderate-income families and individuals who are saving to buy a home of their own. The Bank allocates IDEA funds once a year to member applicants based on program eligibility. The next application cycle will be held during the first quarter of 2008.
 
Workforce Initiative Subsidy for Homeownership (WISH) Program
The WISH Program provides matching grants to families and individuals living in high-cost areas to help them purchase homes near their work. The Bank allocates WISH funds once a year to member applicants based on program eligibility. The next application cycle will be held during the first quarter of 2008.
 
Access to Housing and Economic Assistance for Development (AHEAD) Program
The AHEAD Program provides grants through our members to support economic development and housing projects during the conception and early development stages. The Bank allocates AHEAD funds once a year to member applicants based on program eligibility. The next application cycle will be held during the second quarter of 2008.
 
Community Investment Program (CIP)
Members may use CIP credit for a variety of targeted financing activities, such as funding mortgages, financing first-time homebuyer programs, and creating and maintaining affordable housing for households with incomes at or below 115% of the area median income. CIP advances are priced lower than regular Bank advances and are available for a variety of credit products in a wide range of maturities.
 
Advances for Community Enterprise (ACE)
Members may use ACE credit to provide funds for projects and activities that result in the creation or retention of jobs or provide services or other benefits for low- and moderate-income people and communities. Funds may be used to support community lending and economic development, including small business, commercial and industrial activities, community facilities, and public works. ACE advances are priced lower than regular Bank advances and are available for a variety of credit products in a wide range of maturities.
 
Community Investment Letters of Credit
The Bank’s AAA-rated standby letters of credit are available at favorable rates to provide credit enhancement and support to the financing of housing and economic development projects that otherwise meet CIP and ACE eligibility requirements.
 
Community Lending Plan
As part of the Bank’s annual Community Lending Plan, we provide support to community-based organizations to explore innovative ways to expand community development and affordable housing resources. In addition, the Bank, with its members and community contacts, supports a Financial Education Initiative, which includes alerting borrowers of predatory lending practices and other home ownership concerns. The Bank also provides technical assistance, education, and training services to help members in their community lending and support activities, including assisting members in identifying community investment lending opportunities in their local areas.
 
For more information on these programs, initiatives, and services, we encourage you to visit our website at www.fhlbsf.com. The website includes program application information, news about training and workshops, and publications showing how members have successfully used our programs. The site also contains links to other community reinvestment and lending websites of interest.
 
Please contact the Community Investment Department at (415) 616-2754 or your Relationship Manager to discuss how to take advantage of these valuable resources.
 
Sincerely,
 

Dean Schultz
President and Chief Executive Officer
© 2000-2008 Federal Home Loan Bank of San Francisco
Federal Home Loan Bank of San Francisco

Special Attention Bulletin

October 24, 2007         
Bulletin No. 1265
 
Notice of Community Support and
Community Investment Cash Advance Programs
 
Dear Chief Executive Officer:
 
We offer a variety of community investment programs and resources to help our member financial institutions support affordable housing and economic development in their areas. Through our members, we provide the following targeted grant and credit programs to build vibrant neighborhoods and communities. 
 
Affordable Housing Program (AHP)
The Bank makes funds available to members to support affordable homeownership and rental projects in their communities. AHP grants are awarded twice a year through a competitive process, with application deadlines in April and October.
 
Individual Development and Empowerment Account (IDEA) Program
The IDEA Program provides matching grants to help very low- to moderate-income families and individuals who are saving to buy a home of their own. The Bank allocates IDEA funds once a year to member applicants based on program eligibility. The next application cycle will be held during the first quarter of 2008.
 
Workforce Initiative Subsidy for Homeownership (WISH) Program
The WISH Program provides matching grants to families and individuals living in high-cost areas to help them purchase homes near their work. The Bank allocates WISH funds once a year to member applicants based on program eligibility. The next application cycle will be held during the first quarter of 2008.
 
Access to Housing and Economic Assistance for Development (AHEAD) Program
The AHEAD Program provides grants through our members to support economic development and housing projects during the conception and early development stages. The Bank allocates AHEAD funds once a year to member applicants based on program eligibility. The next application cycle will be held during the second quarter of 2008.
 
Community Investment Program (CIP)
Members may use CIP credit for a variety of targeted financing activities, such as funding mortgages, financing first-time homebuyer programs, and creating and maintaining affordable housing for households with incomes at or below 115% of the area median income. CIP advances are priced lower than regular Bank advances and are available for a variety of credit products in a wide range of maturities.
 
Advances for Community Enterprise (ACE)
Members may use ACE credit to provide funds for projects and activities that result in the creation or retention of jobs or provide services or other benefits for low- and moderate-income people and communities. Funds may be used to support community lending and economic development, including small business, commercial and industrial activities, community facilities, and public works. ACE advances are priced lower than regular Bank advances and are available for a variety of credit products in a wide range of maturities.
 
Community Investment Letters of Credit
The Bank’s AAA-rated standby letters of credit are available at favorable rates to provide credit enhancement and support to the financing of housing and economic development projects that otherwise meet CIP and ACE eligibility requirements.
 
Community Lending Plan
As part of the Bank’s annual Community Lending Plan, we provide support to community-based organizations to explore innovative ways to expand community development and affordable housing resources. In addition, the Bank, with its members and community contacts, supports a Financial Education Initiative, which includes alerting borrowers of predatory lending practices and other home ownership concerns. The Bank also provides technical assistance, education, and training services to help members in their community lending and support activities, including assisting members in identifying community investment lending opportunities in their local areas.
 
For more information on these programs, initiatives, and services, we encourage you to visit our website at www.fhlbsf.com. The website includes program application information, news about training and workshops, and publications showing how members have successfully used our programs. The site also contains links to other community reinvestment and lending websites of interest.
 
Please contact the Community Investment Department at (415) 616-2754 or your Relationship Manager to discuss how to take advantage of these valuable resources.
 
Sincerely,
 

Dean Schultz
President and Chief Executive Officer



© 2000-2008 Federal Home Loan Bank of San Francisco