FHLB Of San Francisco Gives Out $28 Million In Affordable Housing Funds.
The Housing Wire (6/9, Ricciardi) reports the Federal Home Loan Bank of San Francisco on Wednesday “awarded Affordable Housing Program funds to cities in seven states,” awarding over $28 million to 45 different programs that “address the diverse housing needs of communities,” including senior living centers and apartment developments. The funds “will create and preserve an estimated 2,787 housing units targeted for lower-income individuals and families in Arizona, California, Nevada, Illinois, Texas, Pennsylvania and Washington.” The FHLB San Francisco, which puts 10 percent of its net income into affordable housing, “said more funds will be disbursed in the future. The bank has awarded a total $662 million in AHP funds since 1990.”
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