The Affordable Housing Program (AHP) provides grants and subsidized loans for the acquisition, construction or rehabilitation of affordable housing for households with incomes at or below 80 percent of the area median income. Housing developers partner with FHLBank Pittsburgh members to apply for AHP funding, which is offered through one competitive funding round each year. Grants are awarded to the highest scoring projects, up to $750,000 per project, until the round funds are exhausted.
FHLBank Pittsburgh members benefit from AHP in a variety of ways:
AHP grants and loans can be used for:
AHP grants and loans can support the development of housing intended for underserved populations. These housing projects may be targeted to very low-income households, individuals with special needs, the homeless or veterans, among others. Typically these projects are service enriched, and the project sponsors are able to offer a menu of supportive services, such as counseling, vocational and educational services; medical support; and other forms of assistance funded through complementary sources.
AHP applications receive scoring points based on a variety of criteria, as defined in the AHP Implementation Plan. The highest scoring applications qualify to receive AHP funding. As all application submissions are considered final, it is important to submit a complete application.
Applications must be in 'Member Approved' status by the funding round deadline to be accepted. This is accomplished by the following steps: