SAN FRANCISCO - The Federal Home Loan Bank of San Francisco has awarded $31.9 million in affordable housing grants, including $3.1 million to four California credit unions.
The awards include $2.6 million to Mission FCU which will sponsor four affordable rental projects in San Diego and nearby Poway. Also AEA FCU received $300,000 to sponsor a 20-unit project in San Luis; and Santa Cruz Community CU won $227,000 to sponsor a mobile home project in Santa Cruz.
The San Francisco Bank awarded more than $53 million in Affordable Housing Grants in two separate rounds this year. The same three credit unions shared in more than $1 million of grants in the first round.
The San Francisco Bank also awarded California Congresswoman Maxine Waters its "Friends of Affordable Housing" award for her work in expanding affordable housing opportunities for California residents. Waters will be chair of the House Financial Services subcommittee on Housing in the next Congress.
Ed Roberts can be reached at robertscuj
