FHL Bank of San Francisco Funds Affordable Housing Program

Qualifying families in five states will now have an increased opportunity to find affordable housing, thanks to grants totaling $16.5 million from the Federal Home Loan Bank of San Francisco to the Affordable Housing Program (AHP). Low- and moderate-income families, seniors, veterans and those with disabilities are among those who qualify for the new housing.

The states included are Arizona, California, Colorado, Idaho and Illinois. A total of 1,573 housing units will be built, providing safe, affordable homes for families in 29 cities and towns. In addition to new homes for families, the economies in these areas will also get a boost from increases in jobs and tax revenues.

AHP grants fund a wide range of affordable housing projects that include rehabilitating foreclosed homes, preserving historic properties, and constructing new housing units. FHL Bank's 20 member banks receive applications twice a year from housing sponsors or developers which are then evaluated by AHP through a competitive application process.

Since 1990, the Federal Home Loan Bank of San Francisco has awarded more than $725 million in AHP funding, providing close to 105,000 safe, affordable housing units for low- and moderate-income families. Ten percent of the Bank's yearly earnings are set aside to make this possible.

For more information, visit www.fhlbsf.com