To Members and Interested Community Groups:
The Affordable Housing Program (AHP) is central to the Federal Home Loan Bank of San Francisco’s mission of expanding access to housing and our commitment to providing resources that shape strong communities. By participating in the AHP, our members and their development partners play a vital role in creating rental and homeownership opportunities that offer lower-income families and individuals a safe place to call home. I am pleased to announce the opening of our 2018 funding competition.
Only members of the Bank may submit AHP applications. We invite affordable housing developers to reach out to us to connect with Bank members active in our AHP. Application materials are now available on our website, and all applications must be submitted electronically via the Bank’s secure portal.
Tuesday, February 27, 5:00 pm Pacific Time: Deadline to request a project application workspace on the secure portal.
Monday, March 5, 5:00 pm Pacific Time: Deadline to submit an application for funding in the 2018 AHP competition.
Each year, we fund our AHP with 10% of the Bank’s net income from the prior year. In the Bank's 2017 AHP competition, we awarded $73.6 million to support 89 projects; details about projects that have won subsidies in the past are available on our website. With a portion of the AHP funding allocated to two first-time homebuyer programs, since 1990 the Bank has awarded more than $1 billion in grants to support the construction, rehabilitation, or purchase of nearly 132,000 units of quality affordable housing for lower-income households in Arizona, California, Nevada, and other regions served by our members.
The AHP is a valuable benefit of Bank membership and an important tool you can use to make a difference in your communities. You can learn more about the impact of the AHP in this video we produced in celebration of the $1 billion milestone.
We look forward to your participation in our 2018 competition.
For more information, call us at (415) 616-2542 or email Community Investment.
President and Chief Executive Officer