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2011 Affordable Housing Program

2011 Affordable Housing Program. Webinar Agenda. AHP overview Eligibility/threshold requirements Scoring/feasibility review Online application Technical assistance process AHP award obligations Questions. What is AHP?.

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2011 Affordable Housing Program

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  1. 2011 Affordable Housing Program

  2. Webinar Agenda • AHP overview • Eligibility/threshold requirements • Scoring/feasibility review • Online application • Technical assistance process • AHP award obligations • Questions

  3. What is AHP? • Supports the development of affordable housing for households at or below 80% of AMI (using HUD’s guidelines) • Direct subsidy (grants) or low-interest loan options • Competitive application process

  4. What’s Happening in 2011? • One funding round • Funds for 2011 AHP – approximately $3 million • Maximum subsidy amount $250,000 per project • Online application • Informational webinars, workshops and technical assistance

  5. Important 2011 AHP Dates • Now – technical assistance requests accepted • During the month of May – webinars and workshops will be conducted (go to the FHLBank Pittsburgh website for registration information) • June 1 – access to online system available • July 21 (5 p.m.) – closing date for submission of applications; applications MUST be in “Member Approved” status • October 28 - AHP funding announcement

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

  7. AHP Eligibility Criteria (cont.) • Project must comply with required retention period: 5 years for owner-occupied housing, 15 years for rental, and use acceptable retention mechanism • AHP subsidy requested must be less than or equal to the $250,000 maximum • Creditworthiness of the member must be verified (by FHLBank Pittsburgh) • AHP funds must be used for an eligible purpose

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

  9. Quick Scoring Review • The AHP uses a 100-point scoring system • Scoring details provided in Attachment B of the AHP Implementation Plan • A perfect score is not required! • 2010 funding round results: • 76 applications submitted, 15 approved • High score = 82, score for last approved = 68.75 • Score for last approved application in 2009 funding round = 65

  10. 2011 Scoring Guidelines Scoring CategoriesPoint Allocation Use of Donated Properties 5 (fixed) Sponsorship by Nonprofit or Government Entity 5 (fixed) Targeting 0-20 (var.) Housing for the Homeless 5 (fixed) Promotion of Empowerment 0-10 (var.)

  11. 2011 Scoring Guidelines (cont.) Scoring CategoriesPoint Allocation First District Priorities: • Special Needs 7 (fixed) • Economic Diversity 5 (fixed) • Rural 5 (fixed) Second District Priority: • Readiness to Proceed 8 (fixed) Subsidy per Unit 0-5 (var.) Community Stability 0-25 (var.)

  12. Project Feasibility • Projects may score well, but may not pass the feasibility review • Review project feasibility guidelines in Attachment A of the AHP Implementation Plan • Feasibility factors: • Financial Structure • Need for Subsidy • Market Demand • Development Team Capacity • Readiness to Proceed • Discuss potential feasibility issues with CID staff early

  13. Things to Do Now • Meet with your FHLBank member • Complete individual/person registration if you are not previously registered • Review online resources: AHP Implementation Plan, AHP guide, subjective category guides, scoring templates, etc. • Complete due diligence and start work on templates • Request technical assistance

  14. Registering For The Funding Round • Previously registered sponsors • New sponsor registration • Member registration

  15. Previously Registered Sponsors • If you know your user ID and password (PW), log onto Bank4banks and access the system as usual • If you know your user ID, but forgot your PW, log onto Bank4banks and hit the reset link for “Forgot your password?” • If you know your PW, but forgot your user ID, email CID • Dorothy Pegdan at dpegdan@fhlb-pgh.com or • Ann Killian at akillian@fhlb-pgh.com

  16. New Sponsor Registration • New sponsors can register at any time by going to FHLBank Pittsburgh’s public website, clicking on the Bank4banks link in the lower left corner and then the “community investment sponsor/consultant not registered yet” link • System will then prompt you to create user name/ password, answer security questions and review/accept AHP Services Agreement • Confirmation sent via email

  17. Member Registration • Different than sponsor registration: • All member Bank4Banks access is done through the member’s “Customer Security Administrator” (CSA). To access the AHP system, individuals must be given “AHP Role” in Bank4Banks • To find the CSA for your institution, you may contact Member Services at 1-800-288-3400, Option 2, or Community Investment Department at 1-800-288-3400, Option 3 • Most institutions have two CSAs. CSAs have the ability to authorize access to the AHP function of Bank4Banks. One CSA can create your account and the other will sign off as a second approver • Once the CSA sets up your account, the system notifies Member Services and they send out a confirmation packet with your token and instructions for logging into the system • NOTE: members need to complete this registration only if they are not already an AHP user in Bank4Banks. If you previously submitted an AHP application in the 2010 funding round, you are already registered in Bank4Banks and do not need to complete the registration process again.

  18. Online Application • Access to previous application information • Financial forms attached to system – easier to complete offline • Navigation enhancements • Messaging and alert features • Summary screen to track progress

  19. If you initiated an application in the 2010A funding round, this is what you will see…

  20. Initiating an Application June 1

  21. If you are registering yourself in the AHP System for the first time, you need to associate yourself with an organization before continuing.

  22. On June 1, all potential applicants may begin initiating an application.

  23. Accessing the Electronic Application

  24. Online Application Tips • Register self and organization only ONCE; call CID with Login ID & Password questions • 1-800-288-3400 option 3 • Save each page BEFORE moving on • 15-minute inactivity period • Click ? on each page for more info • No smart quotes (“ ”) or ampersands (&) in the text boxes • Read Financial Feasibility Spreadsheet instructions • Contact CID if your project is out of district to ensure proper 221(d)(3) and 203(b) limits and zip code info

  25. Attaching Supporting Documents • .zip, .xls,.doc or .pdf file • Excel spreadsheets, maps, site control documents, zoning compliance, etc. if the file is zipped or in .pdf format • Zip software: http://www.winzip.com/ddchomea.html

  26. Technical Assistance Technical assistance is available: • Go to AHP website and click on technical assistance link – complete TA registration information and project consultation form • Submit completed forms • CID staff will initiate contact upon receipt of forms

  27. AHP Award Obligations • Member/Sponsor/FHLBank execute AHP tri-party agreement when AHP funds are awarded • Member/Sponsor responsibilities: • Start/complete the project in a timely manner and in accord with the approved AHP application • Semi-annual reporting during construction • Request/document AHP subsidy disbursements

  28. AHP Award Obligations (cont.) • Compliance review upon project completion • Compliance reporting/monitoring during retention period • Sponsors/members must provide requested documentation in timely manner in order to complete required monitoring/compliance reviews • Review Implementation Plan, Attachment C, for details on compliance/monitoring requirements

  29. Scoring Income targeting Income verifications for 20% of households Executed and recorded AHP retention document Feasibility review Need for subsidy Subsidy delivery (Note) Subsidy use verification TDC verification Homeless verification Special needs verification Fair housing compliance Empowerment techniques verification Community stability verification Project Completion Review Factors

  30. Eastern Pennsylvania and Delaware: Dave Buches dbuches@fhlb-pgh.com 302-242-1257 Central and Northeastern Pennsylvania: Bill Joseph bjoseph@fhlb-pgh.com 570-823-0644 Western Pennsylvania and West Virginia: John Bendel jbendel@fhlb-pgh.com 412-288-2820 Laura Rye laura.rye@fhlb-pgh.com 304-291-5485 Community Investment Contacts

  31. For more information on the 2011 AHP round, visit the FHLBank Pittsburgh website www.fhlb-pgh.com

  32. Questions?

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