The Federal Home Loan Bank of San Francisco awarded more than $1m in Access to Housing and Economic Assistance for Development (AHEAD) Program grants to boost economic development and housing projects in Arizona, California, and Nevada.
With individual grants averaging between $25,000 and $50,000, these incentives will help 15 of the Bank’s member financial institutions support 33 projects during the conception and early development phases.
Among the awarded recipients this year, there are initiatives and programs designed to:
– assist households and communities affected by the ongoing foreclosure crisis
– establish job training programs focused on a green economy
– foster entrepreneurial social enterprises that create living-wage jobs
– expand opportunities for small business loans and microfinance in underserved communities
– support small urban and rural agricultural endeavors and healthy food production and distribution
– provide incentives and support for the uninsured to open healthcare savings accounts
Since the program was launched in 2004, the Bank has awarded more than $2.5m in AHEAD funds to support nearly 100 projects in Arizona, California, and Nevada.