06/26/2024 | Press release | Distributed by Public on 06/26/2024 13:58
This funding, almost twice as much as Nevada received last year, is the result of Cortez Masto's successful efforts to push the Federal Home Loan Bank of San Francisco to deliver more support to Nevada
Washington, D.C. - U.S. Senator Cortez Masto (D-Nev.) announced that the Federal Home Loan Bank (FHLBank) of San Francisco will deliver $9.4 million from the Nevada-specific fund she helped create to support nine affordable housing developments across the state. Cortez Masto has repeatedly called for the FHLBanks to provide Nevada its fair share of investments. Last year, she succeeded in pushing the FHLBank of San Francisco to create a targeted fund to build more middle-class homes in Nevada.
"For the past six years, I've been fighting to lower housing costs and help build more homes for hardworking Nevadans-including for our Tribal and rural communities. This funding is just part of my commitment to working with the Federal Home Loan Bank system to deliver for the Silver State. While there is more work to do, I know these resources I secured will help families, seniors, and Native American families statewide," said Senator Cortez Masto.
Today's $9.4 million Affordable Housing Program targeted fund for Nevada will support:
Senator Cortez Masto has been a leader in the fight to lower housing costs and keep Nevadans in their homes - especially through her work with the Federal Home Loan Bank system. Last year, Cortez Masto secured $4.8 million from the Federal Home Loan Bank of San Francisco's targeted fund to support Nevada affordable housing organizations, and she's pushing to reform the FHLB system. She is also leading legislation to significantly increase the amount of federal funds available for the HOME Investment Partnership Program to build more affordable housing across the country.
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