FHLB AHP provides capital financing for affordable and supportive housing development in NYS.
Tenant Eligibility Criteria
At least 20% of the units in the project must be below 50% of the area median income (AMI). Any affordable housing population is eligible. Priority is given to housing for homeless individuals and families in the scoring and additional priority given to nonprofit owned projects. Projects will receive additional points in the competitive application process if they contain 20% or more supportive units. Populations eligible for supportive units include:
- Physically and/or mentally disabled
- Developmentally disabled
- Persons recovering from domestic abuse (physical or emotional abuse)
- Persons recovering from chemical dependency
- Persons with HIV/AIDS
In order to access AHP, a nonprofit agency must partner with a bank that is currently a FHLB shareholder. A current list is available here. Larger multistate banks are also members, so check with the banks in our area to see if they are FHLB members.
Up to $40,000 per unit.
Units must remain in service for a minimum of 15 years.
- The 2022 AHP General Fund Round will open on April 25, 2022, with an application submission deadline of June 3, 2022, at 5:00 PM ET.
- Total award amount equals 10% of the Federal Home Loan Bank (FHLB) earnings for the year. No more than 10% of the overall funds available in the application cycle may be requested.
- These funds are most often used to complete capital funding packages in supportive housing projects in conjunction with other city or state capital grants. Funds originate from local banks that participate, and are incentivized by the Community Reinvestment Act.
- May be used for acquisition, construction, or rehabilitation. Projects must demonstrate site control.