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2010 Affordable Housing Program Workshop

2010 Affordable Housing Program Workshop. Workshop Agenda. 2010 Funding Round AHP Overview Scoring/Feasibility Preparing for 2010 Round New Online Application Demonstration. 2010 AHP Funding Round. One AHP funding round in 2010 Important dates:

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2010 Affordable Housing Program Workshop

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  1. 2010 Affordable Housing ProgramWorkshop

  2. Workshop Agenda • 2010 Funding Round • AHP Overview • Scoring/Feasibility • Preparing for 2010 Round • New Online Application Demonstration

  3. 2010 AHP Funding Round One AHP funding round in 2010 Important dates: • July 7 – Sponsor and application registration opens • September 9 – Applications due by 5 p.m. – must be “Member Approved” • December 17 – FHLBank Board of Directors approves projects

  4. 2010 Funding Round Important information: • New online application • Approximately $3 million total available • $250,000 maximum per application • Minor scoring changes in 2010 • Special needs definition • Empowerment

  5. Important References • www.fhlb-pgh.com • 2010 AHP Implementation Plan • Community Investment contacts for TA: Main phone number: 412-288-2826; 1-800-288-3400, ext. 2826 Western Pennsylvania: John Bendel jbendel@fhlb-pgh.com 412-288-2820 West Virginia: Laura Rye laura.rye@fhlb-pgh.com 304-291-5485 Central & Eastern Pennsylvania/ Delaware: Bill Joseph bjoseph@fhlb-pgh.com 570-823-0644

  6. What is AHP? • Supports the development, rehabilitation or acquisition of affordable housing for households at or below 80% of AMI (using HUD’s guidelines) • AHP subsidy – Typically is a grant for capital costs to create affordable housing • Competitive application process

  7. AHP Eligibility Criteria General: • FHLBank members = Applicant • Nonprofit, for-profit, authorities, municipalities developing affordable housing = Sponsor Project Specific: • Rental projects – at least 20% of units targeted for families at or below 50% AMI • Homeownership projects – at least 1 unit targeted for families at <80% AMI

  8. AHP Eligibility Criteria (cont.) • Lease-to-own projects will be scored as rental projects • Must meet retention period: 5 years for owner-occupied housing; 15 years for rental • Must comply with assertions in the application for retention period

  9. Homeownership or rental Multi-family, single-family Acquisition, new construction, rehabilitation Scattered site, single site Downpayment/closing costs Eligible AHP Activities

  10. Competitive Scoring • AHP uses a 100 point scoring system • A perfect score is not required! • 2009 round: • 62 applications • 17 approvals • $3.4 million approved • Score ranges on approved projects: 85-65

  11. 2010 Scoring Guidelines Scoring CategoriesPoint Allocation Use of donated properties 5 (fixed) Sponsorship by nonprofit or government entity 5 (fixed) Targeting 0-20 (variable) Housing for the homeless 5 (fixed) Subsidy per unit 0-5 (variable) Promotion of empowerment 0-10 (variable)

  12. 2010 Scoring Guidelines (cont.) Scoring CategoriesPoint Allocation Community stability 0-25 (variable) First District priorities: • Special needs 7 (fixed) • Economic diversity 5 (fixed) • Rural 5 (fixed) Second District priority: • Readiness to proceed 8 (fixed)

  13. Use of Donated Properties(5 points fixed) • Projects will receive 5 points if either • 20% of land or units are received for a nominal price (typically $100 or less) OR • At least 50% of the units or land are acquired at 50% or less of the Fair Market Value OR • At least 20% of the land or units are acquired from the federal government, federal agency or instrumentality thereof

  14. Sponsorship by Nonprofit or Government Entity(5 points fixed) • Project must include sponsorship by one of the following groups: • Not-for-profit organization • State or political subdivision of a state • State housing agency • Local housing authority • Native Americantribe

  15. Sponsorship by Nonprofit or GovernmentEntity(cont.) • Rental projects – must have an ownership interest and be integrally involved • Homeownership projects – must be integrally involved • “Integral involvement” • Exercising control over planning, development or management of the project

  16. Targeting(20 points variable) Rental projects • Projects with 60% or more of units targeted to households at 50% or less of AMI will receive 20 points • Remaining projects will be scored using the following scale: • Percent of units at 50% or less multiplied by 20 • Percent of units at 51%-60% multiplied by 14 • Percent of units at 61%-80% multiplied by 8 Total score is sum of 1, 2 and 3 above

  17. Targeting (cont.)(20 points variable) Homeowner projects • Projects will be scored using the following scale: • Percent of units at 50% or less multiplied by 20 • Percent of units at 51%-60% multiplied by 18 • Percent of units at 61%-80% multiplied by 16 Total score is sum of 1, 2 and 3 above NOTE: The totalnumber of units in the project will be used to determine the targeting scores for both rental and homeownership projects

  18. Housing for Homeless(5 points fixed) Points will be awarded for the creation of: • Transitional housing, excluding overnight shelters, for homeless households permitting a minimum of 6 months occupancy • Rental housing reserving at least 20% of the units for homeless households

  19. Housing for Homeless (cont.) Homeless is defined as follows: 1. Persons who are sleeping in places not meant for human habitation 2. Persons sleeping in emergency shelters 3. Persons graduating from a transitional housing program specifically for homeless persons 4. Persons being discharged from an institution or foster care with no permanent residence available 5. Persons who would be discharged from an institution if they had a permanent residence available

  20. Housing for Homeless (cont.) 6. Victims of domestic violence • Persons who are “doubled-up” and are in a situation of overcrowding, defined as: Unit SizeNumber of People Efficiency 2 or more 1 Bedroom 3 or more 2 Bedrooms 5 or more 3 Bedrooms 7 or more 4 Bedrooms 9 or more

  21. Subsidy Per Unit(0-5 points variable) • The extent to which a project uses the least amount of AHP subsidy per AHP-targeted unit • Owner-occupied and rental projects scored separately on established point ranges • Points will be awarded in .25 increments

  22. Special Needs(7 points fixed) At least 20 percent of the units are reserved for special needs individuals Expanded definition of special needs: • Physically and/or mentally disabled • Developmentally disabled • Persons recovering from domestic abuse (physical abuse) • Persons recovering from domestic abuse (emotional abuse) • Persons recovering from chemical dependency • Persons with HIV/AIDS Any member of a household with any one of the qualifying special needs conditions outlined above qualifies the household as a special needs household

  23. Economic Diversity(5 points fixed) Projects that incorporate mixed-income housing in the development scheme. Mixed income housing is defined as: • 20% or more units targeted to households >60% of the AMI OR • Project is located in a census tract with an average annual income that is at or greater than 100% of the AMI Note: The total number of units in the project will be used to score this factor.

  24. Rural(5 points fixed) • Projects that are located in rural areas • USDA guidelines for each state are used • For more information go to the USDA website at www.usda.gov and select Single family or Multi family as appropriate for your project

  25. Empowerment • Up to 10 points for services offered to the residents in the proposed project • For the empowerment category pre- and post-homeownership counseling = 4 points each (an increase from 3 points in 2009) • All other techniques 2 points Examples: • Case management, counseling, day care, education, employment training, life skills, etc. • Refer to AHP Implementation Plan for complete list

  26. Readiness to Proceed • Quick start – on or before 6/17/11, or for owner-occupied rehab only – on or before 12/17/11 • 100% site control at time of application (Sept. 2010) must be documented; Exceptions: NSP projects (site control by 6/17/11) and owner-occupied rehab projects (exempt from requirement) • Zoning/environmental – documented permissive zoning and environmental clearance at time of application • Financing – 60% of gap funding (including AHP request) secured at time of application

  27. Community Stability Two categories • Planning: 10 points • Impact: 15 points

  28. Community Stability – Planning(up to 10 points) • Threshold consistency with local/state plan • 1 point • Consistency with specific community plan • 1 point • Consistency with special needs/homeless plan • 1 point • Plan quality • up to 7 points

  29. Community Stability – Impact (up to 15 points) • Awarded designations – up to 2 points • Project must be located in community with designation • Examples: Main Street, Elm Street, Weed and Seed, Blueprint Community • Related community activity/investment – up to 2 points • Project is in community that has related community activities and investment • Proof that community is moving forward with development/revitalization

  30. Community Stability – Impact (cont.) • Catalytic Project – 7 points OR • Neighborhood Stabilization Program • 5 points < 11 units • 7 points 12 or more units OR • Other Impact Elements • 3 points < 11 units • 5 points 12 or more units

  31. Community Stability – Impact (cont.) • Other Impact Elements – 3-5 points • Project must have one of the following characteristics: • Located in area of concentrated foreclosure under NSP • Owner-occupied rehab with >$10,000 unit • Creates homeownership in areas with homeownership rate less than 50% • Redevelops blighted property (if rehab, rehab costs >$25,000 per unit) • Adaptively reuses a property; i.e., warehouse into housing • Rehabilitates a historic property (>$25,000 per unit costs) • Preserves existing subsidized housing (rehab must be >$10,000 per unit)

  32. Community Stability – Impact (cont.) • Additional Impact Elements – up to 4 points • The project plan/design elements must have one of the following characteristics (2 pts): • Create community assets • 100% visitable for new construction, 25% for rehab • Reasonable distance from community amenities • Security features • Project is architecturally compatible with community (2 pts.)

  33. Project Feasibility • FHLBank Evaluates • Development team capacity • Market demand • Readiness to proceed • Cost reasonableness • Need for AHP subsidy

  34. Project Feasibility (cont.) • Highly recommended: • Visit FHLBank website for all the AHP project feasibility details • Higher level of analysis • Projects may score well, but may not pass the feasibility review • Discuss potential feasibility issues with CID staff early • New Financial Forms for 2010 • Available now on www.fhlb-pgh.com

  35. New Electronic AHP Application • Streamlined registration and access • Financial forms attached to system – easier to complete offline • Navigation enhancements • Messaging and alert features • Summary screen to track progress

  36. Complete application User registration Initiate an application – member/lead sponsor required Access AHP Online at www.fhlb-pgh.com, click on Bank4Banks “Member Approved Status” complete application online by 5 p.m. on 9/9/10 Getting Started Discuss project with FHLBank member Remember ID & password! All contacts notified via email Sponsor approves application

  37. Member Registration • Opened June 1 • Different than sponsors • Must be designated as “AHP Role” in FHLBank’s Bank4Banks system • Designations made by your institution’s “Customer Security Administrator” (CSA) • AHP access: ID, password and secure ID token (token not required for sponsors) • Questions: Contact Member Services • 1-800-288-3400, option 4

  38. Sponsor Registration • User can register self at any time • Create user name and password • Answer security questions • Accept AHP Services Agreement • Receive confirmation via e-mail Remember user name and password!

  39. Initial Log In • Must be a registered user • First successful log in – required to connect to an organization • If your organization is not set-up in data base, complete the organization registration/set-up

  40. Initiate AHP Application • Need: Lead sponsor and member contacts to have registered • May select from those registered: • Lead sponsor organization (up to 2 contacts) • Input roles (up to 3 contacts) • Member (up to 3 contacts) • All notified via email

  41. Initiate AHP Application (cont.) • Project information required: • Name, type (rental, lease-purchase or homeownership) and 5-digit zip code • Type of construction: • Rental – new construction, rehab, new construction and rehab • Homeownership – new construction, rehab (owner- occupied), rehab (non-owner occupied), new construction and rehab

  42. Completing AHP Application • Must be a registered user and associated with a project • Suggest completing attachments offline • Attachments are available now • Visit the Bank’s website for: • A step-by-step guide - including a demonstration video • Tips for completing an application • Beta testers completed application <2 hours!

  43. Attachments • .zip, .xls, .pdf or .doc file • .zipx files cannot be accepted • Maps, site control documents, zoning compliance, etc. if the file is in .pdf format or zipped • Zip software: http://www.winzip.com/ddchomea.html • Instruction guides and templates for each subjective category at www.fhlb-pgh.com

  44. Important 2010 AHP Dates • July 7: User registration begins – access to new electronic system available • September 9(5 p.m.): Closing date for submission of applications. Online access shuts down, applications MUST be in “Member Approved” status • December 17:AHP funding announcement

  45. Questions?

  46. Welcome To the AHP Online System Demonstration

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