AHP Competitive Application Program

Each FHLBank has one or more AHP funding rounds each year in which members submit applications on behalf of sponsors and developers of affordable housing projects. The FHLBank then scores each eligible project based on competitive criteria. AHP funding is awarded by the FHLBank to the highest scoring projects in declining order until the available AHP subsidy for that funding round has been used.

Eligibility: Projects must meet eight requirements in order to be considered for AHP funding:

• Owner-occupied or rental housing
• Project feasibility and the need for AHP subsidy
• Ability of the project to begin using FHLBank assistance within 12 months
• AHP subsidy will be used for eligible costs
• Retention agreement (five years for owner-occupied units; 15 years for rental units)
• Project sponsor qualifications
• Compliance with fair housing laws and regulations
• Any additional FHLBank requirements, such as limits on the amount of AHPsubsidy or the location of the project

Scoring: Each FHLBank has its own 100-point scoring system based on nine criteria:

• Use of government-owned or other donated or below-market properties
• Sponsorship by a not-for-profit organization or government entity
• Income targeting
• Housing for homeless households
• Promotion of empowerment
• First District Priority (one or more of: special needs, community development, first-time homebuyers, member financial participation, disaster areas, rural, urban, economic diversity, fair housing remedy, community involvement, lender consortia, or in-District projects)
• Second District Priority (a housing need identified by the FHLBank)
• AHP subsidy per unit
• Community stability

Monitoring Requirements: Members and sponsors that receive AHP funds have some monitoring responsibilities. These differ for owner-occupied and rental housing.