The Federal Home Loan Bank of San Francisco is issuing $65.9 million in grants for 70 affordable housing projects across seven states.
“Everyone deserves a place to call home,” FHLBank of San Francisco President and CEO Greg Seibly said in a statement.
“Our members and their nonprofit partners are using the AHP [affordable housing program] to expand access to quality affordable housing for those who need it most,” he added.
The 2018 AHP grants were awarded to the 70 projects through 29 FHLBank San Francisco member financial institutions working in partnership with community-based housing sponsors or developers to apply for funding.
These grants will be issued to help push forward projects that provide housing for homeless veterans and their families, LGBT seniors, at-risk homeless and youths and people with developmental disabilities, mental illness or chronic illnesses.
These projects are located in Arizona, Arkansas, California, Nevada, Oregon, Texas and Washington.
Since 1990, FHLBank San Francisco has doled out more than $1 billlion in AHP grants, helping to provide roughly 131,000 affordable housing units.
“The AHP program forges public-private partnerships that are helping communities provide families and individuals with safe places to live,” Seibly said.
“As the cost of housing continues to increase, affordable housing becomes more and more difficult to obtain for working families. AHP grants help bridge the gaps in the financing of affordable housing. We will continue to play that role.”