The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) is allocating $49.7 million in Affordable Housing Program (AHP) grants from its General Fund and Nevada Targeted Fund to support 31 developments across Arizona, California, and Nevada that will result in more than 2,050 units.
This year’s AHP General Fund awards will deliver $44.6 million in funding for 26 projects, with 22 in California and four in Arizona, collectively producing over 1,780 affordable housing units across the two states. The AHP Nevada Targeted Fund will deliver $5.1 million for five projects to create 273 affordable units in Nevada. Sixteen FHLBank San Francisco member financial institutions will partner with 27 nonprofits and affordable housing developers to create the much-needed affordable housing units.
“We continue to make meaningful investments to address the affordable housing crisis across Arizona, California, and Nevada,” said Joseph E. Amato, interim president and CEO of FHLBank San Francisco. “This funding, delivered in partnership with our local member financial institutions, supports housing affordability solutions in urban centers, rural areas, tribal lands, and communities in need. We are helping to expand the housing supply and deliver critical support services to individuals and families who need it most.”
