To All Members and Interested Community Groups:
The Access to Housing and Economic Assistance for Development (AHEAD) Program allows our members to support economic development initiatives and housing projects during the critical conception and early development stages, providing funds for projects that promote long-term community stability and self-sufficiency by:
Applications for AHEAD will be accepted between May 2 and June 3, 2011. The Bank plans to notify members and sponsors of the amount of funds, if any, awarded to their project at the end of August, 2011. Individual grants are expected to average between $20,000 and $50,000 and can be used to finance a wide variety of start-up costs, such as studies and project plans, consulting or professional services, and organizational or capacity-building activities.
Since 2004, the Bank has awarded more than $3.5 million in AHEAD funds to 134 projects and programs in Arizona, California, and Nevada. Last year, AHEAD grants were awarded to 19 members for 40 important and timely initiatives: more than half of the 2010 grants are being used to create or preserve jobs in distressed communities, support the small businesses and social enterprises that generate them, or develop well-targeted job training programs.
I encourage you to participate in our AHEAD Program to help address pressing economic development and affordable housing needs in our communities. For more information about the AHEAD program, application process, or previous award recipients, please visit fhlbsf.com. If you have additional questions, contact the Bank's Community Investment Department at (415) 616-2542 or email email@example.com.
President and Chief Executive Officer