Oak Valley Community Bank Secures Over $5.3 Million for Housing
Oak Valley Community Bank Secures Over $5.3 Million in Grants
OAKDALE, Calif. — Oak Valley Community Bank, a proud member of Oak Valley Bancorp (NASDAQ: OVLY), recently announced the successful approval of three significant grants from the 2025 Affordable Housing Program (AHP). These grants, totaling over $5.3 million, were submitted to the Federal Home Loan Bank of San Francisco (FHLBank) in support of the Modesto Gospel Mission and the Tuolumne Economic Development Authority (TEDA).
Impact on Local Communities
The funding will usher in transformative changes in communities by expanding access to supportive housing, particularly for vulnerable populations. The Modesto Gospel Mission is set to renovate an existing facility, Grace Place, into a transitional housing haven. The project will offer 67 units along with essential wraparound services, including case management and recovery support.
Hannah’s House Project
Another initiative by the Modesto Gospel Mission, Hannah’s House, is earmarked for converting a warehouse into 50 transitional housing units. This project aims to empower residents through programs tailored for personal and professional development, ultimately guiding them towards independence.
Initiatives in Tuolumne County
In the midst of these enhancements, the TEDA will oversee the Westside Subdivision project, which will introduce 30 single-family homes catering to very low- to moderate-income households. Among these homes, six will specifically accommodate individuals experiencing homelessness. This development is particularly noteworthy as it includes a community center of 1,800 square feet, designed to provide job training, educational programs, and recreational amenities for residents.
Community Partnerships
As part of its commitment to community engagement, Oak Valley Community Bank played a crucial role in the proposal for the grants, leveraging its position as a sponsor of FHLBank’s Community Investment Programs. Jose Sabala, the VP Community Reinvestment Officer of the bank, emphasized the significance of these partnerships. “Real change starts at the community level. Together, we are investing in safe housing and supportive services to create brighter futures for our neighbors,” he stated.
Broader Implications of the AHP Grants
The Affordable Housing Program grants facilitate critical support for low- and moderate-income individuals across multiple states, including California and Arizona. In 2025, $49.7 million in grants was allocated to various housing projects through a competitive application process. These grants are designed not only to address homelessness but also to support economic stability and growth in vulnerable communities.
Ensuring Long-Term Impact
All projects receiving funding from AHP must adhere to strict income eligibility and long-term retention standards to guarantee that affordable housing remains accessible. The overall goal is to create lasting change and a sustainable living environment for families and individuals in need.
About Modesto Gospel Mission
The Modesto Gospel Mission operates as a non-profit organization dedicated to helping individuals and families facing homelessness and hardship. Their extensive programming has been serving the community since 1948 and includes essential services such as shelter, food, clothing, and recovery programs. Their mission is to foster both immediate relief and long-term self-sufficiency.
About Tuolumne Economic Development Authority
TEDA, a federally chartered tribal corporation, is committed to promoting economic self-sufficiency and sustainable growth within the Tuolumne Band of Me-Wuk Indians. TEDA is key to developing and managing projects that bolster the tribe's economic infrastructure and overall prosperity.
About Oak Valley Community Bank
Oak Valley Community Bank offers a diverse range of financial services for individuals and small businesses, operating through numerous branches across various locations. The bank is known for its community engagement and investment in local development initiatives, underscoring its commitment to fostering economic growth in its service areas.
About the Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco serves as a cooperative that empowers local lenders to enhance community vitality and provide affordable housing options. Their collaborative efforts with member financial institutions enable them to significantly impact housing availability and accessibility in urban and rural locales alike.
Frequently Asked Questions
What did Oak Valley Community Bank receive the grants for?
They received grants to support housing initiatives through the Modesto Gospel Mission and Tuolumne Economic Development Authority.
How will the funds be used by the Modesto Gospel Mission?
The funds will be used to renovate existing shelters into transitional housing units and provide essential support services.
What is TEDA's role in the funding received?
TEDA will utilize the funds to develop single-family homes for low- to moderate-income households, including those experiencing homelessness.
Who is the Federal Home Loan Bank of San Francisco?
It is a cooperative that assists local lenders in enhancing community resources and providing affordable housing solutions.
How can I learn more about the services from the Modesto Gospel Mission?
You can contact them directly at (209) 529-8259 or visit their website for more information on their programs.
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