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  • Comment Detail

  • Date: 09/28/22
    First Name: Daniel
    Last Name: Kaiserski
    Email: daniel.kaiserski@fhlbny.com
    Organization Type: fhlbank
    Organization: FHLB New York

  • Comment

    In terms of community investment, the FHLB Affordable Housing Program often serves as a primary funder for small projects and a gap financer for large ones. One of the things that I think the 11 FHLBs do well is serving as "test kitchen" for policies that could go on to influence larger affordable housing funding programs like Low Income Housing Tax Credit. It would be great if some of the innovative ideas and incentives that FHLB community investment programs pioneer could be combined into a report that would be sent to Congress or other affordable housing funders to highlight innovative ideas. For example, FHLB New York actively incentivizes mixed income housing and housing in high opportunity areas in its affordable housing programs. That's not something you see often in the tax credit world that I'm aware of. Policies like this could serve as a "test case" that could influence larger funders and multiply the bank's impact.