FHLBank San Francisco Awards $32.9 Million in AHP Grants to Address the Region’s Significant Affordable Housing Shortfall
SAN FRANCISCO, July 10, 2023 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced $32.9 million in Affordable Housing Program (AHP) grants have been awarded to fund 38 projects that will create 2,825 units of affordable housing throughout Arizona, California, and Nevada. FHLBank San Francisco is the largest privately-owned source of affordable housing funding in its three-state area and collectively with the other Federal Home Loan Banks, one of the largest privately-owned grantors in the country.
- FHLBank San Francisco is the largest privately-owned source of affordable housing funding in its three-state area and collectively with the other Federal Home Loan Banks, one of the largest privately-owned grantors in the country.
- According to the National Low Income Housing Coalition’s (NLIHC) report The GAP 2023 , less than 4 million affordable rental homes are available nationwide for 11 million extremely low-income renters.
- Grants are delivered through FHLBank San Francisco member institutions partnering with nonprofits and affordable housing developers to submit applications for grants for specific projects in an annual funding competition.
- Learn more about the communities, families, and individuals that have benefited from access to AHP-funded housing on the Bank’s website.