Safe and Green Development Corp (SGD)

[JC#9]

Increasing Banks’ Contributions Towards Building Affordable Housing. The President is proposing that each Federal Home Loan Bank double its annual contribution to the Affordable Housing Program – from 10 percent of prior year net income to 20 percent – which will raise an additional $3.79 billion for affordable housing over the next decade and assist nearly 380,0000 households. These funds will support the financing, acquisition, construction, and rehabilitation of affordable rental and for-sale homes, as well as help low- and moderate-income homeowners to purchase or rehabilitate homes.