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Special Attention Bulletin
April 1, 2008
Bulletin No. 1282
2008 AHEAD Program
To All Members and Interested Community Groups:
The Access to Housing and Economic Assistance for Development (AHEAD) Program allows our members to support economic development and housing projects during the critical conception and early development stages. I am pleased to announce that $500,000 will be available in AHEAD grants for 2008, with individual awards averaging between $20,000 and $25,000.
AHEAD provides funding for projects that will produce housing, services, or other benefits for low- to moderate-income households and communities, result in the creation or retention of jobs, or facilitate public or private infrastructure improvements. Grants can be used for a wide variety of eligible purposes. Last year, the Bank awarded grants to projects ranging from an education and loan program providing resources to help low-income women launch small home-based businesses to land trust projects that will ensure supplies of affordable housing in perpetuity. If a project meets its goals, AHEAD funds are repaid to the Bank and recycled for other economic development and affordable housing projects in the 11th District.
How To Apply
For 2008, the Bank will conduct a two-phase selection process. First, interested members must submit letters of intent between April 14, 2008, and May 12, 2008. Guidelines for the letter of intent are enclosed. Next, selected projects will be invited to submit AHEAD Program applications between June 16, 2008, and July 11, 2008.
The Bank plans to notify members and sponsors of the amount of funds, if any, awarded to their project by August 20, 2008.
I encourage you to participate in our AHEAD program this year. For more information about the program, application process, and previous award recipients, please visit www.fhlbsf.com/ci/grant/ahead/default.asp. A detailed AHEAD product profile is also enclosed with this letter. If you have additional questions, please contact the Bank’s Community Investment Department at (415) 616-2542.
Sincerely,
Dean Schultz
President and Chief Executive Officer
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Special Attention Bulletin
April 1, 2008
Bulletin No. 1282
2008 AHEAD Program
To All Members and Interested Community Groups:
The Access to Housing and Economic Assistance for Development (AHEAD) Program allows our members to support economic development and housing projects during the critical conception and early development stages. I am pleased to announce that $500,000 will be available in AHEAD grants for 2008, with individual awards averaging between $20,000 and $25,000.
AHEAD provides funding for projects that will produce housing, services, or other benefits for low- to moderate-income households and communities, result in the creation or retention of jobs, or facilitate public or private infrastructure improvements. Grants can be used for a wide variety of eligible purposes. Last year, the Bank awarded grants to projects ranging from an education and loan program providing resources to help low-income women launch small home-based businesses to land trust projects that will ensure supplies of affordable housing in perpetuity. If a project meets its goals, AHEAD funds are repaid to the Bank and recycled for other economic development and affordable housing projects in the 11th District.
How To Apply
For 2008, the Bank will conduct a two-phase selection process. First, interested members must submit letters of intent between April 14, 2008, and May 12, 2008.
Guidelines for the letter of intent are enclosed. Next, selected projects will be invited to submit AHEAD Program applications between June 16, 2008, and July 11, 2008.
The Bank plans to notify members and sponsors of the amount of funds, if any, awarded to their project by August 20, 2008.
I encourage you to participate in our AHEAD program this year. For more information about the program, application process, and previous award recipients, please visit
www.fhlbsf.com/ci/grant/ahead/default.asp. A detailed
AHEAD product profile is also enclosed with this letter. If you have additional questions, please contact the Bank’s Community Investment Department at (415) 616-2542.
Sincerely,
Dean Schultz
President and Chief Executive Officer
© 2000-2008 Federal Home Loan Bank of San Francisco
