 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Special Attention Bulletin
August 19, 2008
Bulletin No. 1291
2008 Round B Affordable Housing Program
To Members and Interested Community Groups:
I am pleased to announce the start of Round B of our 2008 Affordable Housing Program (AHP), which promotes your participation in the development of affordable housing in your community.
The Round B application deadline is Wednesday, October 1, 2008. Please review the application materials and related information on the Bank’s website at fhlbsf.com, noting in particular the documents that outline participants’ ongoing responsibilities under the AHP. The Bank actively monitors projects throughout the funding, project completion, and long-term occupancy phases.
Only Bank members may submit applications on behalf of community organizations and developers, and we recommend that interested community groups contact a Bank member early in their planning process. Our Community Investment staff can help you identify local Bank members. In Round A of the 2008 AHP competition, the Bank awarded $37 million to support 80 projects; descriptions of those projects are posted on our website.
Funded with 10% of the Bank’s annual net income and designed to be a flexible source of gap financing, the AHP provides grants for homeownership and rental housing projects targeting very low- to moderate-income families and individuals. Since the program’s inception in 1990, the Bank has awarded $496 million in AHP funds to create over 85, 000 affordable housing units in Arizona, California, Nevada, and other localities served by our members.
I encourage you to participate in our 2008 AHP Round B competition to help increase the supply of affordable housing throughout the 11th District and other areas served by our members. For more information, please contact the Community Investment Department at (415) 616-2542.
Sincerely,
Dean Schultz
President and Chief Executive Officer
|
|
|
|
|
|
Special Attention Bulletin
August 19, 2008
Bulletin No. 1291
2008 Round B Affordable Housing Program
To Members and Interested Community Groups:
I am pleased to announce the start of Round B of our 2008 Affordable Housing Program (AHP), which promotes your participation in the development of affordable housing in your community.
The Round B application deadline is Wednesday, October 1, 2008. Please review the application materials and related information on the Bank’s website at fhlbsf.com, noting in particular the documents that outline participants’ ongoing responsibilities under the AHP. The Bank actively monitors projects throughout the funding, project completion, and long-term occupancy phases.
Only Bank members may submit applications on behalf of community organizations and developers, and we recommend that interested community groups contact a Bank member early in their planning process. Our Community Investment staff can help you identify local Bank members. In Round A of the 2008 AHP competition, the Bank awarded $37 million to support 80 projects;
descriptions of those projects are posted on our website.
Funded with 10% of the Bank’s annual net income and designed to be a flexible source of gap financing, the AHP provides grants for homeownership and rental housing projects targeting very low- to moderate-income families and individuals. Since the program’s inception in 1990, the Bank has awarded $496 million in AHP funds to create over 85, 000 affordable housing units in Arizona, California, Nevada, and other localities served by our members.
I encourage you to participate in our 2008 AHP Round B competition to help increase the supply of affordable housing throughout the 11th District and other areas served by our members. For more information, please contact the Community Investment Department at (415) 616-2542.
Sincerely,
Dean Schultz
President and Chief Executive Officer
© 2000-2008 Federal Home Loan Bank of San Francisco
