FHLBB: 2019 Affordable Housing Program Announcement

April 2, 2019

TO: All Members and Housing Organizations

I am pleased to announce that Federal Home Loan Bank of Boston will contribute a total of $24.3 million to the 2019 Affordable Housing Program (AHP) and Equity Builder Program (EBP). Of this, $20.7 million will be allocated to the AHP and $3.6 million will be allocated to the EBP.

In 2019, individual AHP application limits will be $650,000 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 3 through July 25. Please note that all applications and supporting documentation must be electronically submitted to the Bank by 3:00 p.m. on Thursday, July 25, 2019. 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 3:00 p.m. on Thursday, August 1, 2019 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. 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 2019 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 team is happy to answer your questions and provide technical assistance. We can be reached at 1-888-424-3863.

Thank you for your commitment to addressing affordable housing needs across New England and the communities you serve.

Edward A. Hjerpe III
President and CEO

Courtesy of Federal Home Loan Bank of Boston

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