FHLBank San Francisco Awards $9.4 Million in Grants to Nevada-Based Affordable Housing Groups
Summary
The 2024 grant cycle represents a 94% increase in funding over last year and is a clear demonstration of the Banks commitment to deliver on its mission to solve the critical shortage of affordable housing in the state. Senator Catherine Cortez Masto of Nevada to innovate meaningful solutions to encourage and fund needed affordable housing projects. Previous winners Clearinghouse Community Development Financial Institution and Wells Fargo National Bank West also earned awards this year. Wadsworth, Nevada; new construction of Pyramid Lake Paiute Tribe family homes in, in collaboration with United Business Bank and Pyramid Lake Housing Authority.The affordability crisis, whether in urban or rural Nevada, impacts all of our families, friends, and neighbors, said Jennifer Denoo, president and CEO of Great Basin Federal Credit Union (FCU). As a proud and active member of FHLBank San Francisco, Great Basin FCU is honored to receive this AHP award and partner with American Covenant Senior Housing on the rehabilitation of the Sunwood Housing community.AHP General Fund and Nevada Targeted Fund grants help finance the development, preservation, and rehabilitation of single-family and multifamily housing for people in need, including the chronically unhoused, families, seniors, veterans, at-risk youth, people living with disabilities and mental health challenges or overcoming substance abuse.