San Franciso bank directing $4.5 million for housing in Nevada

WASHINGTON D.C., Virginia (KOLO) - The Federal Home Loan Bank of San Francisco will be directing $4.5 million to Nevada for the development of affordable housing.

The money will also be used to support downpayment assistance.

“When I arrived in the Senate, I promised to increase housing investments in our state,” said Senator Cortez Masto, who helped secure the funding. “When I realized that the FHLBank of San Francisco wasn’t providing Nevada it’s fair share of housing investments, I worked hard to hold them accountable. These non-federal funds are an important first step and will help Nevada families buy homes and developers build more affordable housing across the state.”

These funds will be added to the current inventory of 44,000 subsidized units.