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Affordable Housing Program (“AHP”) 2014 Competitive Offering

Affordable Housing Program (“AHP”) 2014 Competitive Offering. Overview of the Application Process. AHP Application Overview. 2014 Competitive AHP Allocation: $22,072,379. Submission Deadline: Friday, July 11 th.

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Affordable Housing Program (“AHP”) 2014 Competitive Offering

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  1. Affordable Housing Program(“AHP”) 2014 Competitive Offering Overview of the Application Process

  2. 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

  3. 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

  4. 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

  5. Scoring Phase • There are 9 scoring categories that total 100 points. • Donated Properties (5 points) • Not-for-Profit / Government Entity Sponsorship (10 points) • Targeting (20 points) • Homeless Housing (7 points) • Empowerment (5 points) • Community Stability (22 points) • First District Priority (6 points) • Second District Priority (20 points) • Subsidy Per Unit (5 points)

  6. 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)

  7. 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

  8. 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)

  9. Questions? Please e-mail us at ahp@fhlbny.com

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