$9.8 Million in Affordable Housing Grants Awarded by Federal Home Loan Bank of San Francisco.SAN FRANCISCO--(BUSINESS WIRE)--July 1, 1996--The Federal Home Loan Bank of San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden has awarded $9.8 million to 61 housing programs to help create over 2,600 new units of affordable housing in Arizona, California, Florida, Nevada, and New Jersey. "The outstanding projects submitted in this round of the Affordable Housing Program address one of the thorniest issues in housing: creating homeownership opportunities for people who have typically not had those opportunities, including low-income households, Native Americans This is a list of Native Americans (first nations and descendents) Cherokee
n.pl the pathologic conditions that have their origin in the embryology and growth and development of an individual. DDs usually appear clinically before 18 years of age. , and single-parent families," said Dean Schultz, president and chief executive officer of the Federal Home Loan Bank of San Francisco. "These award-winning initiatives also address the growing demand for decent, affordable rental housing designed to meet the needs of at-risk populations, such as homeless people, seniors, and mentally or physically disabled individuals. These projects not only provide housing, but bring new hope to residents and homebuyers and build sustainable communities in the process." Over 83% percent of the units will be reserved for individuals and families that earn less than 50 percent of the median income for the area in which they live, while the remaining units will serve households earning up to 80 percent of area median income. The following California communities will benefit from the grants announced today: Alameda County, Berkeley, Castro Valley Castro Valley, uninc. city (1990 pop. 48,619), Alameda co., W Calif., near San Francisco Bay. Chiefly residential, it also has light industries. , Chico, Chula Vista Chula Vista (ch  `lə), city (1990 pop. 135,163), San Diego co., S Calif., on San Diego Bay; inc. 1911. , Concord, Daly City Daly City, city (1990 pop. 92,311), San Mateo co., W Calif., a suburb of San Francisco; inc. 1911. Daly City is primarily residential, its population having grown significantly since the 1970s. , Davis, Fremont, Fresno, Half Moon Bay, Indio, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Marin County, Marysville, Mountain View, Napa, Oakland, Orland, Panorama City, Pasadena, Petaluma, Pittsburg, Pleasant Hill, Sacramento, Salinas Salinas, city, United StatesSalinas (səlē`nəs), city (1990 pop. 108,777), seat of Monterey co., W Calif.; inc. 1874. It is the shipping and processing center of a fertile valley famous for its grain and lettuce. , San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , San Francisco, San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. , Santa Rosa Santa Rosa, city, Argentina Santa Rosa, city (1991 pop. 80,629), capital of La Pampa prov., central Argentina. It is a modern city and road junction surrounded by a rich agricultural and cattle-raising area. , Scotts Valley, Soledad, Trinity County Trinity County is the name of several counties in the United States:
`bə), town (1990 pop. 27,437), seat of Sutter co., N central Calif., on the Feather River; founded 1849 during the gold rush; inc. 1908. . In Arizona, five projects will benefit communities in Phoenix, Tucson, and the Arizona portion of the Navajo Nation. Winning projects are also located in Sparks, Nevada Sparks is a city in Washoe County, Nevada, United States. The population was 66,346 at the 2000 census. Estimates in 2006 place the population at around 90,000 due to rapid growth in areas such as Spanish Springs, Wingfield Springs, and D'Andrea. ; Miami, Florida “Miami” redirects here. For the Native American tribe, see Miami tribe.Miami is a major city in southeastern Florida, in the United States. It is the county seat of Miami-Dade County. Miami is a gamma world city with an estimated population of 404,048. , and in several towns in New Jersey. The 61 winning projects will leverage approximately $263 million in total development costs. Since the first round of the Bank's Affordable Housing Program in 1990, the Bank and its shareholders have committed $94 million to 515 housing programs, supporting the creation of over 23,000 units of affordable housing. The Federal Home Loan Bank of San Francisco's Affordable Housing Program provides grants to projects that address community needs in creative ways and that make the most effective use of the money. The funds are derived from the Bank's net earnings, which would otherwise be paid as dividends to shareholders. In effect, Bank members forgo 10 percent or more of their earnings on Bank stock to support these projects. Each competing project must be sponsored by a financial institution that is a member of the Bank, usually in conjunction with a community-based affordable housing sponsor. "The Bank's mission is to help community-oriented lenders make housing more accessible and more affordable," said Mr. Schultz. "Our shareholders have made lending in low- and moderate-income neighborhoods a significant part of their everyday business, and they rely on us to provide them with low-cost funding when they need it. The Affordable Housing Program makes it possible for our shareholders to reach those with even greater need and fosters enduring relationships between lenders and community organizations, helping to revitalize neighborhoods and sustain healthy communities." The Federal Home Loan Bank of San Francisco promotes housing and homeownership by expanding the supply and reducing the cost of mortgage credit. The Bank serves and is owned by commercial banks, credit unions, savings institutions, and thrift and loan associations headquartered in Arizona, California and Nevada. As of December 31, 1995, the Bank had 178 shareholders. With $50 billion in assets, the Bank is the largest of the 12 banks in the Federal Home Loan Bank System Noun 1. Federal Home Loan Bank System - the central credit system for thrift institutions financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and . Individual project descriptions, including contact names and phone numbers, are available upon request. -0- AFFORDABLE HOUSING PROGRAM AWARD RECIPIENTS 1996 ROUND A ARIZONA COCONINO COUNTY Project: Navajo Partnership for Housing, Navajo Nation Member: Norwest Bank Nevada Sponsor: Navajo Partnership for Housing Subsidy: $150,000 for 30 ownership units MARICOPA COUNTY Project: Arizona Home of Your Own, Phoenix Member: Norwest Bank Nevada Sponsor: Governor's Council on Developmental Disabilities Subsidy: $90,000 for 18 very low-income ownership units Project: Highway House, Phoenix Member: National Bank of Arizona Sponsor: Central Arizona Shelter Services Subsidy: $250,000 for 60 very low-income rental units PIMA COUNTY Project: Primavera pri·ma·ve·ra 1 or pri·ma ve·ra n. 1. A tree (Cybistax donnellsmithii) of Mexico and Guatemala, having opposite, palmately compound leaves, yellow flowers, and close-grained, light-colored wood. 2. Transitional Housing, Tucson Member: Arizona Bank Sponsor: Primavera Foundation, Inc. Subsidy: $100,000 for 25 very low-income rental units Project: Project Rico, Tucson Member: Arizona Bank Sponsor: Project PPEP PPEP Pollution Prevention Equipment Program PPEP Pre-Commissioning Program for Enlisted Personnel PPEP Preliminary Project Execution Plan , Inc./PPEP Microbusiness and Housing Development Corporation Subsidy: $70,000 for 10 ownership units, 4 very low-income Project: South Tenth Avenue Adobes, Tucson Member: Arizona Bank Sponsor: Primavera Builders, Incorporated Subsidy: $70,000 for 11 ownership units; 3 very low-income Project: Vista/Western Hills, Tucson Member: Arizona Bank Sponsor: Primavera Builders, Inc. Subsidy: $45,000 for 9 ownership units, 6 very low-income CALIFORNIA ALAMEDA COUNTY Project: Barker Pickering Affordable Housing, Fremont Member: Bay View Federal Bank Sponsor: Mid-Peninsula Housing Coalition Subsidy: $129,000 for 43 rental units, 25 very low-income Project: Buell Street Cooperative, Oakland Member: First Nationwide Bank Sponsor: Resources for Community Development Subsidy: $61,056 for 11 very low-income rental units Project: First Time Buyer Initiative, Oakland Member: First Nationwide Bank Sponsor: East Bay Asian Local Development Corp. Subsidy: $75,000 for 15 low-income ownership units Project: Las Bougainvilleas Senior Housing, Oakland Member: Citibank, FSB (FrontSide Bus) See system bus. FSB - front side bus Sponsor: Spanish Speaking Unity Council Subsidy: $68,000 for 68 very low-income rental units Project: Over 60 Senior Housing, Berkeley Member: First Nationwide Bank Sponsor: Resources for Community Development Subsidy: $226,800 for 40 very low-income rental units Project: Strobridge Court Apartments, Castro Valley Member: California Federal Bank California Federal Bank, often abbreviated to "Cal Fed", was a savings and loan bank in California. It existed from 1926 until 2002, when its parent company Golden State Bancorp was acquired by Citigroup, resulting in the bank being merged into Citibank. Sponsor: BRIDGE Housing Subsidy: $312,000 for 96 rental units, 53 very low-income BUTTE COUNTY Butte County can refer to any of the following:
Project: Alldredge Subdivision, Chico Member: Tri Counties Bank Sponsor: Community Housing Improvement Program Subsidy: $96,000 for 12 ownership units, 3 very low-income Project: Ivy Street, Chico Member: Tri Counties Bank Sponsor: Habitat for Humanity--Chico Subsidy: $11,800 for 1 very low-income ownership unit CONTRA COSTA COUNTY Project: Coggins Square Apartments, Pleasant Hill Member: World Savings and Loan Association savings and loan association, type of financial institution that was originally created to accept savings from private investors and to provide home mortgage services for the public. The first U.S. savings and loan association was founded in 1831. Sponsor: BRIDGE Housing Corporation Subsidy: $233,000 for 86 very low-income rental units Project: Pittsburg/Concord Homeless Shelter, Pittsburg and Concord Member: Western Financial Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , FSB Sponsor: SHELTER, Inc. of Contra Costa County Subsidy: $28,000 for 10 very low-income rental units FRESNO COUNTY Project: The Crossroads, Fresno Member: World Savings and Loan Association Sponsor: Habitat for Humanity--Fresno Subsidy: $225,000 for 30 ownership units, 20 very low-income GLENN COUNTY Project: Orland Rehab, Orland Member: Tri Counties Bank Sponsor: Glenn County Human Resource Agency Subsidy: $7,500 for 15 very low-income ownership units LOS ANGELES COUNTY Project: Angelina Street Apartments, Los Angeles Member: First Republic Thrift and Loan Association Sponsor: Little Tokyo Service Center CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation Subsidy: $263,250 for 81 very low-income rental units Project: Euclid Villa, Pasadena Member: Cen Fed Bank Sponsor: Pacific Housing Alliance Subsidy: $75,000 for 14 very low-income rental units Project: Inner City LA Homeownership Program, Los Angeles Member: First Nationwide Bank Sponsor: Los Angeles Neighborhood Housing Services, Inc. Subsidy: $205,500 for 60 ownership units, 25 very low-income Project: Irmas Center, Los Angeles Member: City National Bank Sponsor: L.A. Family Housing Corporation Subsidy: $276,000 for 69 very low-income rental units Project: Leimert Park-Corridor Project, Los Angeles Member: American Savings Bank Sponsor: Corridor Economic Development Corporation Subsidy: $220,000 for 44 very low-income rental units Project: Oxnard Village, Los Angeles Member: First Nationwide Bank Sponsor: Los Angeles Community Design Center Subsidy: $113,680 for 39 very low-income rental units Project: Pasadena Scattered Sites Program, Pasadena Member: First Nationwide Bank Sponsor: Pasadena Neighborhood Housing Services Subsidy: $75,000 for 15 ownership units, 6 very low-income Project: San Pedro House, Los Angeles Member: Citibank, FSB Sponsor: Skid Row Housing Trust Subsidy: $22,000 for 18 very low-income rental units Project: Sheraton Town House, Los Angeles Member: American Savings Bank Sponsor: Hope-Net/The MacLeod Partnership Subsidy: $560,000 for 142 very low-income rental units Project: Step Up On Second, Santa Monica Member: California Federal Bank Sponsor: A Community of Friends Subsidy: $190,708 for 36 very low-income rental units Project: Upward Bound Senior Villa, Santa Monica Member: First Federal Bank of California The Bank of California was founded in San Francisco, California on July 5, 1864 by William Chapman Ralston. It was the first commercial bank in the Western United States, the second-richest bank in the nation, and considered instrumental in developing the American Old West. Sponsor: Upward Bound House of Santa Monica Subsidy: $420,000 for 70 rental units; 69 very low-income Project: West 28th Street Apartments, Los Angeles Member: California Federal Bank Sponsor: Catholic Charities Community Development Corporation Subsidy: $64,000 for 16 very low-income rental units Project: Willis Avenue Project, Panorama City Member: Coast Federal Bank Sponsor: Habitat for Humanity Habitat for Humanity, nonprofit ecumenical Christian organization that enables low-income people to own affordable, livable housing. Headquartered in Americus, Ga., it was founded in 1976 by businessman Millard Fuller and his wife. of San Fernando/Santa Clarita Valleys Subsidy: $76,500 for 9 very low-income ownership units MONTEREY COUNTY Project: Las Jicamas Project, Soledad Member: American Savings Bank Sponsor: Soledad Local Development Corporation Subsidy: $184,000 for 46 very low-income rental units Project: Plaza Grande, Salinas Member: Watsonville Federal Savings and Loan Association Federal Savings and Loan Association An institution chartered by the federal government whose primary function is to collect savings deposits and to provide mortgage loans. Sponsor: Monterey County Housing Authority Subsidy: $250,000 for 91 rental units; 86 very low-income NAPA COUNTY Project: Pecan pecan: see hickory. pecan Nut and tree (Carya illinoinensis) of the walnut family, native to temperate North America. Occasionally reaching a height of about 160 ft (50 m), the tree has deeply furrowed bark and feather-shaped leaves. Court/Schoolhouse Court, Napa Member: The Vintage Bank Sponsor: Napa Valley Family Homes & Housing Association for Napa Development Subsidy: $156,000 for 38 very low-income rental units RIVERSIDE COUNTY Project: Paseo de Los Poetas, Indio Member: American Savings Bank Sponsor: Coachella Valley Housing Coalition Subsidy: $105,000 for 21 very low-income rental units SACRAMENTO COUNTY Project: American River Village Townhomes, Sacramento Member: California Federal Bank Sponsor: Sacramento Mutual Housing Association, Inc. Subsidy: $487,500 for 125 rental units, 99 very low-income Project: Auberry Park Apartments, Sacramento County Member: Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Community Development Bank Sponsor: Community Housing Opportunities Subsidy: $147,305 for 112 very low-income rental units Project: Kennedy Estates, Sacramento Member: California Federal Bank Sponsor: Rural California Housing Corporation Subsidy: $230,000 for 99 very low-income rental units SAN DIEGO COUNTY Project: Logan Avenue, San Diego Member: American Savings Bank Sponsor: San Diego Housing Development Corporation Subsidy: $250,000 for 54 rental units; 22 very low-income Project: Trolley Terrace Townhomes, Chula Vista Member: Bank of America Community Development Bank Sponsor: South Bay Community Services Subsidy: $62,082 for 18 very low-income rental units SAN FRANCISCO COUNTY Project: Apollo Hotel, San Francisco Member: Citibank, FSB Sponsor: Mission Housing Development Corporation Subsidy: $80,000 for 80 very low-income rental units Project: Bay Area Supportive Shared Housing, Cities in San Francisco/Marin/Alameda Counties Member: First Nationwide Bank Sponsor: Innovative Housing for Community Subsidy: $129,911 for 28 very low-income rental units Project: Gabreila Apartments, San Francisco Member: Home Savings of America Sponsor: Housing Development & Neighborhood Preservation Corporation Subsidy: $89,154 for 29 very low-income rental units SAN MATEO COUNTY Project: Coastside Farmlabor Housing, Half Moon Bay Member: California Federal Bank Sponsor: Mid-Peninsula Housing Coalition Subsidy: $248,000 for 80 very low-income rental units Project: Vista Grande, Daly City Member: California Federal Bank Sponsor: Mercy Charities Housing California Subsidy: $71,040 for 24 rental units; 13 very low-income SANTA CLARA COUNTY Project: Grail Housing Community, San Jose Member: First Nationwide Bank Sponsor: San Jose Grail Development Corporation Subsidy: $170,000 for 34 ownership units Project: Latham Park, Mountain View Member: Home Savings of America Sponsor: Mid-Peninsula Housing Coalition Subsidy: $222,000 for 73 very low-income rental units SANTA CRUZ COUNTY Santa Cruz County is the name of two counties in the United States:
Project: Scotts Valley Civic Center Apartments, Scotts Valley Member: First Nationwide Bank Sponsor: Mid-Peninsula Housing Coalition Subsidy: $190,450 for 50 very low-income rental units Project: Sudden Street-Watsonville, Watsonville Member: World Savings and Loan Association Sponsor: Habitat for Humanity--Santa Cruz Subsidy: $18,000 for 3 very low-income ownership units SONOMA COUNTY Project: Alta-Mac Senior Mobile Home Park, Santa Rosa Member: Summit Savings, FSB Sponsor: Burbank Housing Development Corporation Subsidy: $100,565 for 20 ownership units; 17 very low-income Project: Vallejo Street Senior Apartments Phase II, Petaluma Member: Northbay Savings Bank Sponsor: Petaluma Ecumenical Projects Subsidy: $110,755 for 40 very low-income rental units SUTTER COUNTY Project: Ellis Lake, Marysville Member: Tri Counties Bank Sponsor: Rural Opportunities Resource Center Subsidy: $72,180 for 15 ownership units; 3 very low-income Project: Yuba City Duplex, Yuba City Member: Tri Counties Bank Sponsor: Habitat for Humanity--Yuba/Sutter Subsidy: $9,900 for 2 very low-income ownership units TRINITY COUNTY Project: Trinity Rehab, Scattered Sites in Trinity County Member: Tri Counties Bank Sponsor: Glenn County Human Resource Agency Subsidy: $24,263 for 15 very low-income ownership units YOLO YOLO You Only Live Once COUNTY Project: Homestead Co-op, Davis Member: California Federal Bank Sponsor: Solar Community Housing Association Subsidy: $45,000 for 15 very low-income rental units Project: Oakshade Mutual Housing Community, Davis Member: California Federal Bank Sponsor: Sacramento Mutual Housing Association Subsidy: $175,500 for 45 rental units; 35 very low-income FLORIDA DADE COUNTY Project: LHHA LHHA Licensed Home Health Agency Scattered Site Affordable, Miami, Florida Member: Citibank, Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks Sponsor: Little Haiti Housing Association, Inc. Subsidy: $80,000 for 16 very low-income ownership units NEVADA WASHOE COUNTY Project: Bethel Plaza Apartments, Sparks Member: Norwest Bank Sponsor: Bethel Housing Development Corporation Subsidy: $70,000 for 28 very low-income rental units NEW JERSEY ESSEX COUNTY Project: New Jersey Citizen Partnership, Various Sites, New Jersey Member: World Savings and Loan Association Sponsor: New Jersey Citizen Action Subsidy: $324,000 for 65 ownership units; 15 very low-income NATIONWIDE Project: NHSA NHSA National Head Start Association NHSA National Homeland Security Agency NHSA National Heart Savers Association NHSA National Haitian Student Alliance NHSA Neighborhood Housing Service of America NHSA National Healthcare Staffing Association Partnership, Nationwide Member: World Savings and Loan Association Sponsor: World/NHS Partnership Subsidy: $944, 807 for 168 ownership units, 84 very low-income CONTACT: Federal Home Loan Bank of San Francisco Amy Stewart, 415/616-2605 |
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