The AHEAD Economic Development Grant, offered by FHLBank of San Francisco, is designed to support innovative initiatives aimed at creating new economic opportunities. This is achieved by either expanding proven development models or piloting new interventions. The program's core mission aligns with FHLBank's goal of fostering a brighter future for low- to moderate-income individuals, neighborhoods, and communities by providing access to housing and economic assistance. This strategic alignment underscores a commitment to addressing systemic economic disparities through targeted support.
The primary beneficiaries of the AHEAD grant are low- to moderate-income people, neighborhoods, and communities in Arizona, California, and Nevada. The program's impact goals are broad, focusing on creating or preserving jobs, delivering job training and education programs, and supporting small businesses, microlending, and microenterprise incubation for low-income entrepreneurs. A significant priority is also placed on addressing the special economic development needs of vulnerable populations, including at-risk youth, veterans, persons with disabilities, the formerly incarcerated, and tribal communities.
The grant prioritizes activities that directly contribute to economic development and empower disadvantaged groups. Expected outcomes include a reduction in unemployment, an increase in access to skilled labor through training, and the growth of local economies through small business support. Measurable results would likely include the number of jobs created or preserved, the number of individuals completing job training, the number of new small businesses established, and the economic indicators of the supported communities over the grant's duration.
While the explicit "theory of change" is not detailed, it can be inferred that FHLBank believes that by investing in local economic development initiatives led by qualified non-profit organizations, local government agencies, and tribal associations, they can directly improve the economic well-being and stability of low-to-moderate income communities. The focus on diverse strategies, from job creation to small business support and targeted aid for vulnerable populations, indicates a comprehensive approach to fostering sustainable economic growth and opportunity.
