FHLBank San Francisco Awards Grants

SAN FRANCISCO—The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) has awarded $49.4 million in Affordable Housing Program (AHP) grants in its 2014 AHP funding competition.

The grants were awarded through 22 bank members to 76 projects that will construct or rehabilitate 5,055 units of housing affordable to lower-income individuals and families in Arizona, California, Florida, Illinois, Nevada, Ohio, Pennsylvania, Texas, and Washington.“The Affordable Housing Program has a long history of forging public-private partnerships that help families and individuals find affordable housing,” said Lawrence Parks, FHLBank San Francisco senior vicepresident, external and legislative affairs. “As housing costs increase, the AHP continues to fulfill its purpose of providing affordable housing options for working families. We are proud of what this program is able to accomplish.”Now in its 25th year, the AHP is a flexible source of gap funding for projects that create an affordable place to call home for low-income and moderate-income families and individuals. Grants awarded in 2014, ranging from $25,000 to $1.5 million each, will support a wide range of targeted projects, including: