Transcript Affordable Housing Program (“AHP”) 2014 Competitive Offering

Affordable Housing Program
(“AHP”)
2014 Competitive Offering
Overview of the Application Process
© 2014FEDERAL
FEDERALHOME
HOMELOAN
LOANBANK
BANKOF
OFNEW
NEWYORK
YORK • 101 PARK AVENUE • NEW YORK, NY 10178 • WWW.FHLBNY.COM
AHP Application Overview
» 2014 Competitive AHP Allocation: $22,072,379
» Submission Deadline: Friday, July 11th
» Applications and corresponding documentation must be
submitted by USB Flash Drive
» All applications must be submitted through a FHLB-NY
stockholder institution, or Member
» A list of Members is accessible on the FHLB-NY website at
http://www.fhlbny.com/members/membership-list.aspx
FEDERAL HOME LOAN BANK OF NEW YORK
Application Submission Process
» 2014 AHP applicants must utilize an electronic application
(AHP/APP-001)
» Review the Exhibit Cover Pages to provide corresponding
information and documentation
– Failure to include documentation related to eligibility or scoring may
result in a reduction in score or a project’s elimination from the round
FEDERAL HOME LOAN BANK OF NEW YORK
Minimum Eligibility Requirements
» All application submissions must meet the Bank’s Minimum
Eligibility Requirements
» For more information regarding the AHP Minimum Eligibility
Requirements, please review the 2014 AHP Implementation
Plan http://www.fhlbny.com/forms/ahp_100.pdf
FEDERAL HOME LOAN BANK OF NEW YORK
Scoring Phase
» There are 9 scoring categories that total 100 points.
1. Donated Properties (5 points)
2. Not-for-Profit / Government Entity Sponsorship (10 points)
3. Targeting (20 points)
4. Homeless Housing (7 points)
5. Empowerment (5 points)
6. Community Stability (22 points)
7. First District Priority (6 points)
8. Second District Priority (20 points)
9. Subsidy Per Unit (5 points)
FEDERAL HOME LOAN BANK OF NEW YORK
Financial Feasibility Review
» The highest ranking eligible applications will be reviewed to
confirm whether the project is financially feasible and
consistent with the AHP Feasibility Guidelines
» Provide detailed explanations if any items are outside of the
AHP Financial Feasibility Analysis Guidelines (AHP-101)
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Project Approval
» AHP funds are awarded to the highest ranking projects that
demonstrate a need for AHP funds
» Once the allocation of AHP subsidy is depleted, the next four
ranked projects are selected as alternates
» Round results will be announced by January 2015
» Commitment agreements and Memorandums of
Understanding will be distributed to approved projects after
round results are announced
FEDERAL HOME LOAN BANK OF NEW YORK
Additional Application Assistance
» Review the following before completing your application:
– AHP Implementation Plan (AHP-100)
– AHP Feasibility Guidelines (AHP-101)
– AHP Application Manual (AHP/APP-102) and (AHP/APP-106)
» See detailed tutorials on our website for additional assistance
with the following application package materials:
– Application (AHP/APP-001)
– Rental Project Workbook (AHP/APP-108)
– Owner Project Worksheet (AHP/APP-104)
– Cost Feasibility Tool (AHP/APP-109)
FEDERAL HOME LOAN BANK OF NEW YORK
Advancing Housing and Community Growth
Questions?
Please e-mail us at [email protected]
The information provided by the Federal Home Loan Bank of New York (FHLBNY) in this communications is set forth for informational purposes only. The
information should not be construed as an opinion, recommendation or solicitation regarding the use of any financial strategy and/or the purchase or sale of
any financial instrument. All customers are advised to conduct their own independent due diligence before making any financial decisions. Please note that the
past performance of any FHLBNY service or product should not be viewed as a guarantee of future results. Also, the information presented here and/or the
services or products provided by the FHLBNY may change at any time without notice.
101BANK
PARKOF
AVENUE
• NEW YORK, NY 10178 • WWW.FHLBNY.COM
FEDERAL HOME LOAN
NEW YORK