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Bulletins and Notices
January 25, 2016

Apply Now for 2016 Affordable Housing Program Grants - Application Deadline is March 7

To Members and Interested Community Groups:

The Bank is committed to providing resources that help build strong, stable, and sustainable communities. Through the Affordable Housing Program (AHP) — one of the largest private sources of funding for affordable housing available today —  members of the Federal Home Loan Bank System and their development partners play a vital role in creating rental and homeownership opportunities where they are most needed, offering lower-income families and individuals a safe place to call home.

Each year, we fund our AHP with 10% of the Bank’s net income from the prior year. In the Bank's 2015 AHP competition, we awarded $44.7 million to support 64 projects; information about projects that have been awarded subsidies in the past is available on our website. Since 1990, the Bank has awarded over $812 million in AHP grants to help Bank members and their partners create more than 114,000 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.

Only members of the Bank may submit applications. We invite affordable housing developers to contact us to connect with local Bank members that are active in the AHP. Application materials, including a re-designed application, are now available, and all applications must be submitted electronically via the Bank’s secure portal.

Deadlines:
Tuesday, March 1: Deadline to request a project application workspace on the secure portal.
Monday, March 7: Deadline to submit an application for funding in the 2016 AHP competition.

The AHP is a valuable benefit of Bank membership and an important tool that you can use to make a difference in your communities. We look forward to your participation in our 2016 competition.

For more information, please email the Community Investment Department or call (415) 616-2542.

Sincerely,


Dean Schultz
President and Chief Executive Officer