Western Alliance Bank Teams Up With FHLBank San Francisco to Award the Yavapai-Apache Nation $800,000 Grant

Business Wire

5 days ago

PHOENIX--(BUSINESS WIRE)-- Western Alliance Bank today announced, in collaboration with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco), an $800,000 grant awarded to the Yavapai-Apache Nation to support capacity building for affordable housing development.
Western Alliance Bank Teams Up With FHLBank San Francisco to Award the Yavapai-Apache Nation $800,000 Grant
This grant funding will support Yavapai-Apache Nation Tribal Housing (YANTH)'s 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.
About Western Alliance Bank
With more than $85 billion in assets, Western Alliance Bancorporation is one of the country's top-performing banking companies. Its primary subsidiary, Western Alliance Bank, Member FDIC, offers a full spectrum of tailored commercial banking solutions and consumer products, all delivered with outstanding service by banking and mortgage experts who put customers first. Major accolades include being ranked as a top U.S. bank in 2024 by American Banker and Bank Director and receiving #1 rankings on Extel's (formerly Institutional Investor's) All-America Executive Team Midcap Banks 2024 for Best CEO, Best CFO and Best Company Board of Directors. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit Western Alliance Bank.
About FHLBank San Francisco
The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient.
About the Yavapai-Apache Nation
The Yavapai-Apache Nation is a federally recognized tribal government located in the Verde Valley of central Arizona, encompassing five tribal communities: Tunlii, Middle Verde, Rimrock, Camp Verde and Clarkdale. With approximately 2,600 enrolled members, the Nation is committed to strengthening the well-being of its people through investments in housing, healthcare, education and cultural preservation.