Western Alliance Bank announced, in collaboration with the Federal Home Loan Bank of San Francisco, an $800,000 grant awarded to the Yavapai-Apache Nation to support capacity building for affordable housing development.
This grant funding will support Yavapai-Apache Nation Tribal Housing construction of Yavapai-Apache Homes IX. This 38-unit new construction project offers a mix of two-bedroom duplexes and three- and four-bedroom single-family homes on Tribal trust land in the Tunlii community on the Yavapai-Apache Reservation in Camp Verde, Arizona.
“Western Alliance Bank recognizes that it is essential for Tribal members to have a safe, affordable place to call home,” said Aidan Tracey, assistant vice president of portfolio management for Western Alliance Bank’s Affordable Housing Investments Group. “There is strong demand for quality, affordable housing for members of the Yavapai-Apache Nation. We are proud to play a role in securing the well-being and stability of these communities with this step toward addressing housing needs for the Nation.”
In this phase of the project, 14 units are designated for households with annual incomes up to 30% of Area Median Income (AMI), 11 units for households with annual incomes up to 50% AMI, five units for households with annual incomes up to 60% AMI, and eight units for households up to 80% AMI. The Project also includes a community center for resident use. All of the units are committed for eventual tenant ownership at the end of the 15-year Low-Income Housing Tax Credit (LIHTC) compliance period.
As a member bank of the FHLBank San Francisco, Western Alliance Bank sponsored the Yavapai-Apache Nation’s application to help secure this much-needed funding. Acting in a fiduciary capacity, the Western Alliance Affordable Housing Investments Group supported the Nation by facilitating the disbursement of funds, ensuring compliance with program requirements.
The grant was made possible through voluntary funding from FHLBank San Francisco, which supports affordable housing and economic development in local communities across Arizona, California and Nevada.
Western Alliance Bank remains committed to building strong local partnerships that support affordable housing, economic development and financial empowerment in our communities.
