February 27, 2013

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Affordable Housing Program Funds to Provide 153 Units in Utah

Press Release

February 27, 2013

The Federal Home Loan Bank of Seattle (Seattle Bank) has announced an award of $900,000 in Affordable Housing Program (AHP) funds to provide 153 units of affordable housing in Utah. The funding will help to create affordable rental and owner-occupied housing for very low-, low-, and moderate-income households, including homeless veterans and families with special needs.

Three projects in Utah received 2012 AHP awards:

  • $150,000 for NNHC First-time Homebuyer Program in Logan, sponsored by Bank of American Fork and Neighborhood Nonprofit Housing Corporation
  • $350,000 for New Valor House in Salt Lake City, sponsored by Zions First National Bank and Housing Authority of Salt Lake City
  • $400,000 for Bud Bailey Apartments I, LLC in Salt Lake City, sponsored by Zions First National Bank and Housing Authority of the County of Salt Lake City (dba Housing Opportunities)

The Seattle Bank is a wholesale financial cooperative, and it distributes AHP funding through its community financial institution members, who work with for-profit and nonprofit organizations in their communities to address local housing needs.

“We are honored to support our Utah members and their community partners in addressing such a broad range of housing needs,” said Seattle Bank President and CEO Michael L. Wilson. “We are grateful for their participation in our AHP and commend them for their partnership and commitment to affordable housing. We look forward to the completion of this work and to the positive impact it will have for the residents of these homes.”

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