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  • Comment Detail

  • Date: 01/11/15
    First Name: Elissa
    Last Name: Margolin
    Organization: Housing Action NH
    City: N/A
    State: N/A
    Attachment: View Attachment
    Number: RIN-2590-AA39

  • Comment

    Housing Action NH is a coalition of 70 organizations united around affordable housing policy. The Federal Home Loan Bank of Boston’s Affordable Housing Program (AHP) has been a critical resource for our members who are working to address the growing need for more affordable housing for low and moderate income families.

    Since its creation in 1990, 937 affordable-housing initiatives that have produced 25,000 affordable units have been approved for funding in New England, including funding projects for the elderly and the disabled. Given the trend of shrinking state and federal resources for projects, the Affordable Housing Program plays an important role in taking on NH’s statewide deficit of 23,000 affordable rental units.

    The FHFA proposal would shrink the amount of private capital that makes it possible for FHLBanks to provide their funding, grants, and services to those who work to create affordable housing and key community investments. Reducing the number of FHL Bank members will undermine the financial strength of FHLBank and New Hampshire will face the loss of another important affordable housing development resource.

    Housing Action NH respectfully requests that you withdraw the proposal. Thank you for your attention to this and your ongoing service.