Affordable Housing, Announcements, Community Development

FHLB of Boston Announces 2013 Round of AHP

 

The Federal Home Loan Bank of Boston has announced it has $18.2 million available for the 2013 round of their Affordable Housing Program (AHP).

The AHP encourages local planning of affordable rental and homeownership initiatives and allows the Federal Home Loan Bank of Boston to address, in partnership with their member institutions, affordable-housing needs in communities across New England. A portion of the Bank's net earnings funds the program, which awards grants and low-interest advances or loans, through member institutions.

For 2013, the Bank has increased the subsidy limits for any one AHP application from $400,000 to $500,000 in direct subsidy; and from $800,000 to $1 million in total subsidy, including the subsidized advance interest-rate subsidy.

The online application will be accessible to members and sponsors beginning July 29 through September 13, 2013.

The Bank will also hold multiple training sessions and online webinars to help members and sponsors understand the competitive scoring process and how to use the online application. These sessions will be held in May through August, including sessions at the Stamford Marriott on May 21 and the Farmington Marriott on June 20. Participants can enroll online.

The updated 2013 AHP Implementation Plan and the Notice of changes are available on the Bank's website.

 
 

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