SAN FRANCISCO—The Federal Home Loan Bank of SanFrancisco (FHLBank San Francisco) has awarded $49.4million in Affordable Housing Program (AHP) grants in its2014 AHP funding competition.

The grants were awarded through 22 bank membersto 76 projects that will construct or rehabilitate5,055 units of housing affordable to lower-income individuals andfamilies in Arizona, California, Florida, Illinois, Nevada,Ohio, Pennsylvania, Texas, andWashington.
"The Affordable Housing Program has a long history of forgingpublic-private partnerships that help families and individuals findaffordable housing," said Lawrence Parks, FHLBankSan Francisco senior vicepresident, external and legislativeaffairs. "As housing costs increase, the AHP continues to fulfillits purpose of providing affordable housing options for workingfamilies. We are proud of what this program is able toaccomplish."
Now in its 25th year, the AHP is a flexible source of gap fundingfor projects that create an affordable place to call home forlow-income and moderate-income families and individuals. Grantsawarded in 2014, ranging from $25,000 to $1.5 million each, willsupport a wide range of targeted projects, including:

-- New construction of rental housing for low-incomefamilies, seniors,
veterans, or individuals and householdswith special needs
-- Building of owner-occupied homes using theself-help sweat equity model
-- Sustainable developments that will be LEEDCertified or GreenPoint Rated
-- Transitional or permanent housing withsupportive services for veterans,
the chronically homeless, thedevelopmentally disabled, and others "Our AHP reflects theBank's long-standing commitment to providing resources that helpbuild strong, stable, and sustainable communities," said DeanSchultz, FHLBank San Francisco President and Chief ExecutiveOfficer. "The AHP is a valuable and unique benefit of membership,and an important tool that members use to make a difference in thecommunities they serve."

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.