SAN FRANCISCO, June 26, 2017 (GLOBE NEWSWIRE) — The Federal Home Accommodation Bank of San Francisco (FHLBank San Francisco) awarded $73.6 actor in Affordable Apartment Program (AHP) grants for targeted affordable apartment projects. The grants were awarded through 20 Bank associates to 89 projects that will assemble or adjust 6,280 units of apartment affordable to lower-income families and individuals in seven states – Alabama, Arizona, California, Florida, Nevada, Texas, and Wisconsin.
Since the birth of the Affordable Apartment Program in 1990, FHLBank San Francisco has awarded added than $1 billion in grants to advice actualize much-needed affordable rental and homeownership opportunities in communities served by the Bank’s affiliate banking institutions. “We are actual appreciative to be the aboriginal in the FHLBank System to ability this $1 billion milestone,” said Greg Seibly, President and CEO of FHLBank San Francisco. “Year afterwards year, our AHP dollars, delivered through our associates to their nonprofit development ally and to first-time homebuyers, are finer accretion admission to quality, affordable apartment and allowance body strong, stable, and acceptable communities.”
The AHP is a adjustable antecedent of gap allotment for projects that actualize an affordable abode to alarm home for actual low-, low-, and moderate-income households. Grants awarded in 2017 ambit from $110,000 to $2 actor anniversary and will abutment a advanced ambit of projects aimed at affair specific needs, including:
“In an active costs environment, our AHP continues to be a reliable antecedent of value-adding gap allotment for projects that are acknowledged in confined families and individuals adverse an arrangement of specific apartment challenges,” said Jim Yacenda, Vice President and Association Investment Officer at FHLBank San Francisco. “The descriptions of the projects we are allotment this year acquaint a sobering yet hopeful adventure of how the Bank’s AHP ally are aptitude into challenges like allowance abandoned veterans in Newport Beach, adopting access amid healthcare and apartment in Salinas, acknowledging apartment and ecology sustainability in Indio, and alive in affiliation with trailblazing ‘Cap and Trade’ allotment from the accompaniment of California.”
The communities that will account from the AHP grants awarded through our associates in the 2017 allotment antagonism are:
Arizona: Mesa, Phoenix, Tucson
California: Alameda, Anderson, Colma, Compton, Esparto, Fremont, Garden Grove, Glendale, Hesperia, Highland, Indio, Lancaster, Lindsay, Livermore, Loma Linda, Long Beach, Los Angeles, McFarland, Napa, Newport Beach, Oakland, Oxnard, Parlier, Ramona, Redwood City, Roseville, Sacramento, Salinas, San Bernardino, San Diego, San Francisco, San Gabriel, San Jose, San Luis Obispo, San Marcos, Santa Maria, Santa Paula, Sebastopol, Selma, Sonoma, Turlock, Ukiah, Vacaville, Ventura, Vista, Walnut Creek, Winters, Woodland
Nevada: Henderson, Las Vegas, Reno
Texas: Austin, Houston
Details about all the 2017 AHP admission winners are accessible at fhlbsf.com.
Affordable Apartment ProgramThe Bank sets abreast 10% of its balance anniversary year to armamentarium the AHP, with a allocation of that allotment allocated to two first-time homebuyer downpayment abetment programs. Since 1990, the Bank has awarded added than $1 billion in AHP grants to abutment the construction, rehabilitation, or acquirement of about 132,000 units of affection affordable apartment for lower-income households. The Bank’s affiliate banking institutions, alive in affiliation with community-based apartment sponsors or developers, attempt for AHP grants by appointment applications for specific projects. AHP-funded projects represent a advanced ambit of strategies and solutions, from celebrated canning and adaptive reclaim to new architecture and rehabilitation. Where AHP projects are developed, bounded economies additionally get a boost, as these projects actualize jobs, access architecture and customer spending, and accomplish new tax revenues.
Federal Home Accommodation Bank of San FranciscoThe Federal Home Accommodation Bank of San Francisco delivers bargain allotment and added casework that advice affiliate banking institutions accomplish home mortgages to bodies of all assets levels and accommodate acclaim that supports neighborhoods and communities. The Bank additionally funds association programs that advice associates actualize affordable apartment and advance association bread-and-butter development. The Bank’s associates are headquartered in Arizona, California, and Nevada and accommodate bartering banks, acclaim unions, automated accommodation companies, accumulation institutions, allowance companies, and association development banking institutions.
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