My News LA: L.A. Gets $10.5 Million in Affordable Housing Grants

Los Angeles has received $10.5 million in badly needed affordable housing grants for nine projects in the city, officials announced Tuesday.

The local money is part of $65.9 million in Affordable Housing Program grants awarded to 70 housing developments that will produce over 6,000 affordable units in Arizona, California, Nevada, and other states.

The grants are being provided through the Federal Home Loan Bank of San Francisco, which sets aside 10 percent of its earnings each year to fund the AHP.

“It’s fantastic to see the City of Los Angeles receive millions of dollars in funding toward building more affordable housing,” said Rep. Jimmy Gomez, whose 34th Congressional District will house six of the nine projects. “It’s no secret that our city is facing a host of pressing housing challenges, and every unit we build will make a real difference in the life of someone in our community. As a member of Congress, I’ll continue to support efforts that help put a roof over the head of every Angeleno, particularly the most vulnerable among us.”

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