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Federal Home Loan Bank Affordable Housing Program (AHP)

Status

Closed

Type

Capital, Pre-development/Acquisition

Source

Private

Procurement Agency

Private

Total Annual Award

Amounts vary. AHP made awards totaling $12.1 million in New York State in 2017; $4.7 million of that amount was awarded to developments with supportive housing. The next award announcement is due in Fall of 2018.

Tenant Eligibility Criteria

At least 20% of the units in the project must be below 50% of the area median income (AMI). Any affordable housing population is eligible. Priority is given to housing for homeless individuals and families in the scoring and additional priority given to nonprofit owned projects. Projects will receive additional points in the competitive application process if they contain 20% or more supportive units. Populations eligible for supportive units include:

–Physically and/or mentally disabled
–Developmentally disabled
–Persons recovering from domestic abuse (physical or emotional abuse)
–Persons recovering from chemical dependency
–Ex-offender
–Persons with HIV/AIDS

Eligible Applicants

Mixed affordable housing, SROs and congregate residences.

Funding Award Details

In 2017, a total of $12.1 million was awarded to programs in New York State.  Total award amount equals 10% of the Federal Home Loan Bank (FHLB) earnings for the year (See Network Notes). No more than 10% of the overall funds available in the application cycle may be requested. In order to access AHP, a nonprofit agency must partner with a bank that is currently a FHLB shareholder. A current list is available here. Larger multistate banks are also members, so check with the banks in our area to see if they are FHLB members.

Amount Details

Up to $40,000 per unit.

Term

Units must remain in service for a minimum of 15 years.

Network Notes

May be used for acquisition, construction, or rehabilitation. At least 20% of available units must be affordable to 50% and below of the area median income (AMI). Projects must demonstrate site control. No more than 10% of the overall funds available in the application cycle may be requested.

These funds are most often used to complete capital funding packages in supportive housing projects in conjunction with other state capital grants.  Funds originate from local banks that participate, and are incentivized by the Community Reinvestment Act.

Applications must be submitted via FHLBNY’s Secure File Transfer Protocol (SFTP) by Member Institutions that have been issued User IDs prior to this communication.  If you have not been issued a User ID, email FHBNY at ahp@fhlbny.com.

For More Information

Read the grant application here.

New York Main Office

Federal Home Loan Bank of New York
101 Park Avenue
New York, NY 10178-0599

Telephone: (212) 681-6000
Fax Number: (212) 441-6890

Last updated: 06/04/2018

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