SAN FRANCISCO-The Federal Home Loan Bank of San Francisco has awarded $56.6-million in Affordable Housing Program grants in the Bank's 2013 AHP funding competition. The grants were awarded through 25 Bank members to 94 projects that will produce or preserve 5,733 units of housing affordable to lower-income individuals and families in Arizona, California, Florida, Maine, Nevada, Ohio, Pennsylvania, Texas, and Washington.

“If past is prelude, there is a sense of excitement in knowing that several years from now the 94 projects receiving AHP funding this year will be vital anchors in the neighborhoods where they are built,” says Jim Yacenda, VP and community investment officer at FHLBank San Francisco. “In our experience, these high quality housing developments lead to substantial improvements to the quality of life for whole communities.”

The AHP is a flexible source of gap funding for projects that create an affordable place to call home for low-income and moderate-income families and individuals.

Since 1990, with 10% of the Bank's annual earnings set aside to support the program, the Bank has awarded more than $740 million in competitive AHP subsidies to produce over 100,000 units of quality affordable housing targeted to low- and moderate-income households. AHP grants are awarded through a competitive application process.

Funded projects cover a wide range of strategies and solutions, from historic preservation and adaptive reuse to new construction and rehabilitation and resale of foreclosed homes. Where AHP projects are developed, local economies are also given a real boost, as these projects create jobs, increase construction and consumer spending, and generate new tax revenues.

Grants awarded in 2013, ranging from $15,000 to $1.5-million per project, will support a wide range of targeted projects, including:

  • New construction of rental housing for low-income families, seniors, the formerly homeless, or individuals and households with special needs
  • Building of Habitat for Humanity homes
  • Sustainable developments that will be LEED Certified or GreenPoint Rated
  • Permanent supportive housing with services for veterans, young people aging out of the foster care system, or the developmentally disabled

The communities that will benefit from AHP funds awarded in the 2013 funding competition are:

  • Arizona: Fort Apache, Mesa, Phoenix, Prescott, Sedona, Tucson, Williams
  • California: Arroyo Grande, Bakersfield, Bellflower, Berkeley, Calistoga, Compton, Dixon, Downey, Firebaugh, Fullerton, Half Moon Bay, Hayward, Imperial, Lamont, Lodi, Los Angeles, Marina, Modesto, Montclair, Mountain View, Oakland, Orange Cove, Oroville, Palo Alto, Piru, Reedley, Reseda, Sacramento, San Diego, San Francisco, San Jose, San Leandro, San Marcos, Santa Rosa, Selma, Shingle Springs, Simi Valley, Soledad, Stockton, Thousand Palms, Tujunga, Turlock, Riverside, Vallejo, Vernon, Walnut Creek, West Sacramento, Whittier, Wilmington, Woodlake, Yucca Valley
  • Florida: Tampa
  • Maine: Augusta
  • Nevada: Las Vegas, North Las Vegas, Reno, Sparks
  • Pennsylvania: Grove City, Philadelphia
  • Texas: Fort Worth
  • Washington: Bainbridge Island

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.

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