To Members and Interested Community Groups:
The Affordable Housing Program (AHP) is a vital source of private funding for affordable housing and a valuable tool that our members use to make a difference in their communities. I am pleased to announce the start of our 2015 AHP application period.
Only members of the Bank may submit AHP applications. We recommend that interested community groups contact a Bank member early in their planning process about sponsoring an application; our Community Investment staff is available to help identify local Bank members. The application deadline for 2015 is Monday, March 9, 2015. Applications are now available on the Bank’s website and, beginning this year, all application materials must be submitted electronically through a new secure portal (details to follow).
In the Bank's 2014 AHP competition, we awarded $49.4 million to support 76 projects; information about projects that have been awarded subsidies in the past is available on our website. Each year, we fund our AHP with 10% of the Bank’s net income from the prior year. Since 1990, the Bank has awarded over $780 million in AHP grants to help Bank members and project sponsors create more than 111,000 units of quality affordable housing targeted to low- and moderate-income households in Arizona, California, Nevada, and other regions served by our member financial institutions.
Our AHP reflects the Bank's continuing commitment to providing resources that help build strong, stable, sustainable communities. In addition to making more affordable housing available where it is most needed, AHP-funded projects can also help give local economies an important boost. I hope you will participate in the 2015 competition.
For more information, please email email@example.com or call (415) 616-2542.
President and Chief Executive Officer