Federal Home Loan Bank of San Francisco Awards $1 Million for Economic Development Initiatives
Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco offers low-cost financing and other services that help member financial institutions make loans to home buyers of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds investment programs that help community members create affordable housing and promote community economic development. members of the Bank, its shareholders and customers are commercial banks, credit unions, thrifts, savings and loans and insurance companies headquartered in Arizona, California and Nevada.
The Federal Home Loan Bank of San Francisco announced that it awarded $ 1 million in Access to Housing Assistance and Development (AHEAD) Program grants to support affordable housing projects and community and economic development in Arizona, California and Nevada.
AHEAD grants, averaging between $ 20,000 and $ 50,000, giving a critical boost soon for projects and programs that address local needs and can be used to fund a series of start-up costs, ranging from studies and project plans fees for consulting or marketing, organizational and capacity building. These predevelopment grants support initiatives that can:
- Housing production, social services, or other benefits to households with low to moderate income
- Provide public infrastructure projects or private, or
- Create or preserve jobs.
