FHLBB: 2018 Affordable Housing Program Announcement
TO: All Members and Housing Organizations
I am pleased to announce that the Federal Home Loan Bank of Boston will contribute $21.3 million to the 2018 Affordable Housing and Equity Builder Programs. Of this, $18.1 million will be allocated to the AHP and $3.1 million will be allocated to the EBP.
In 2018, individual AHP application limits will be $500,000 in direct subsidy and $1 million in total subsidy, including the AHP advance interest-rate subsidy.
The online AHP application will be available on our website beginning on June 11 through August 2. Please note that all applications and supporting documentation must be electronically submitted to the Bank by 5:00 p.m. on Thursday, August 2, 2018. To facilitate our members' application review, we have added a separate period for members to complete their application review and analysis. Members will have until 5:00 p.m. on Thursday, August 9, 2018 to complete this online application review.
We encourage members and sponsors to start discussions early to establish a working relationship that will extend through the application submission process and beyond, should the initiative be awarded funding.
Beginning in May, we will host multiple training sessions and webinars to help you understand the application process, and ask that you register online at fhlbboston.com/events as space is limited. The 2018 AHP Implementation Plan and the Notice of Changes, including application instructions and detailed scoring criteria and guidelines, are available on our website. Our Housing and Community Investment staff (1-888-424-3863) will be happy to answer your questions and provide technical assistance.Thank you for your commitment to addressing affordable housing needs across New England and the communities you serve.
Edward A. Hjerpe III
President and Chief Executive Officer
Courtesy of Federal Home Loan Bank of Boston