The Federal Home Loan Bank of San Francisco has awarded nearly $74 million in Affordable Housing Program (AHP) grants.The grants were awarded for targeted affordable housing projects through 20 FHLBank San Francisco members, 10 of which are also CBA members: Bank of America, Bank of the West, Charles Schwab Bank, City National Bank, First Community Bank, Union Bank, Oak Valley Community Bank, Pacific Premier Bank, Tri Counties Bank, Union Bank and Wells Fargo Bank.
The grants awarded to CBA member banks to finance projects in California total just above $37 million. Grants awarded by the bank range from $110,000 to $2 million each and support a wide range of projects aimed at meeting a number of needs, including
- Permanent supportive housing for homeless veterans and their families;
- Senior-friendly housing targeted to the LGBT community;
- Transitional and permanent supportive housing for chronically or at-risk homeless individuals and families and transition-aged youth; and
- Rental housing for very low-income individuals with developmental disabilities, mental illness, or long-term chronic illnesses.
CBA would also like to congratulate FHLBank San Francisco on reaching a
tremendous milestone: awarding more than $1 billion in total grants
since the bank launched the program in 1990 – the first in the FHLBank
System to achieve that mark.