Comment Detail

Comment

1) All FHLB districts should be required to disclose the scoring range -- high, median, low -- for funded applications in past cycles. 2) If the bulk of funding is being awarded to for-profit large-scale rental projects, then separate competitions should be set up for smaller nonprofits building homeownership units. 3) One of the prominent consulting firms charges $50,000 for an application. That is a sign that the application process is too complex, difficult, and mysterious for the average nonprofit to be competitive on their own. 4) Member banks should not be allowed to profit from the grants. One bank requires that applicants open a line of credit, which has a high closing fee, in exchange for partnering. 5) An easier application format should be created for smaller awards, such as a $20,000 subsidy per unit. 6) FHLB districts should be required to have all reference material available and easy-to-find online BEFORE the application window opens. 7) FHLB should consider a three-stage process. Initial screening with basic application format, followed by full application for the most competitive projects, followed by feasibility documents for applicants that scored high enough. 8) Most local Habitat for Humanity affiliates face two huge challenges: land acquisition and infrastructure costs for subdivisions. Habitat programs usually have a strong corporate sponsorship program to cover the bulk of house construction costs. FHLB should provide upfront funding for land and infrastructure, because that is usually the unmet need.