 |
Housing & Community | Programs
« Affordable Housing Program »
Affordable Housing Program
2009 AHP Information
FHLBank Pittsburgh plans to conduct one Affordable Housing Program funding round in 2009. The deadline is June 4, 2009. Please click here for a step-by-step guide to applying for AHP funds.
If you would like to speak with an FHLBank Pittsburgh Community Investment Representative regarding the AHP, please contact one in your respective area:
Eastern Pennsylvania and Delaware:
Dave Buches
dbuches@fhlb-pgh.com
302-242-1257
Western Pennsylvania:
Ann Killian
akillian@fhlb-pgh.com
412-288-3483
Central/Northeastern Pennsylvania:
Bill Joseph
bjoseph@fhlb-pgh.com
570-823-0644
West Virginia
Laura Kemp-Rye
lkemp-rye@fhlb-pgh.com
304-291-5485
|
What is AHP?
Each year, FHLBank Pittsburgh sets aside approximately
10 percent of its net income to fund the AHP. The AHP
supports projects that provide affordable housing to
individuals and families whose incomes are defined as
low (51 to 80 percent of area median) or very low (50
percent and below of area median).
What qualifies for AHP funding?
The AHP provides grants and loans that can be used
for:
- Single- and multi-family housing
- New construction and rehabilitation
- Rental and owner-occupied homes
- Scattered-site housing development projects
- Transitional and single-room-occupancy housing
Low income is just one of many common denominators
AHP-eligible individuals and families share. As a result,
AHP funds are increasingly being channeled toward projects
that provide special-needs populations — such
as the mentally/physically disabled, frail elderly,
persons with HIV/AIDS, persons recovering from drug/alcohol
addiction or victims of domestic violence — with
counseling, vocational and educational services, medical
support and other forms of assistance, in addition to
housing.
What criteria are used?
AHP scoring priorities are set annually by the Bank's
Board of Directors, in consultation with the Affordable
Housing Advisory Council. In 2008, priority will be
given to projects that meet the following criteria:
|
Criterion
|
Maximum
Points |
|
Is sponsored by nonprofit, local government,
local authority
|
5 |
|
Exhibits low subsidy per unit
|
5 |
|
Provides housing for the homeless
|
5 |
|
Uses donated properties
|
5 |
|
Generates empowerment
|
10 |
|
Promotes community stability
|
25 |
|
Project is ready to proceed
|
8 |
|
Targets to the very-low-income
|
20 |
|
Addresses special needs/economic
diversity/rural
|
17 |
|
TOTAL
|
100 |
Additional Requirements
Projects must meet FHLBank's feasibility guidelines.
Maximum subsidy amount of $250,000 may be allocated
to each project .
Subsidized loans of greater than $250,000 may be requested.
Retention requirements:
- For owner-occupied projects, five years from closing
date
- For rental projects, 15 years from project completion
date
- Demonstrated need for AHP subsidy
- Use of funds must be timely (within twelve months
of approval)
- Sponsor must be adequately qualified based on development
experience
- Compliance with Fair Housing laws required
- Market demand must be demonstrated
To read or download a detailed summary of FHLBank's
feasibility guidelines and scoring criteria, click
on 2009 AHP Implementation Plan (pdf).
How do you apply?
Application
The Community Investment Department reviews applications
for feasibility and scoring, and the Bank's Board of
Directors approves award recipients. Once notified of
funding approval, awardees must draw down funds within
twelve months of the approval date. All funded projects
are then monitored periodically.
Monitoring Requirements
Approved AHP projects are required to be monitored
in accordance with AHP regulations. Approved AHP projects
will be subject to the following monitoring requirements:
more>
Contact Us
If you have any questions regarding AHP or any Community Investment program, please feel free to contact us at 1-800-288-3400 or e-mail us.
|
|
Real Life Stories
The first five homes in a new 40-home development located on James and 7th streets on the Southside of Bethlehem, Pennsylvania, welcomed first-time low-income homeowners on Thursday, April 16, 2009.
Resources
Related Documents
AHP Recipients
|
|
