To All Members and Project Sponsors:
The following revisions to the Bank’s Affordable Housing Program (AHP) Implementation Plan are effective immediately:
In Section II.B.2.b.1), we inserted the wording “in the project” after “have an ownership interest” to explicitly state that ownership interest in this context refers to the project sponsor’s ownership interest in the project.
In Attachment B, Scoring Guidelines, we removed a footnote under the Donated or Conveyed Property scoring criterion that is no longer necessary because it refers to a change that went into effect in the 2008A round.
Section III.B.2.b.4), clarifies what an acceptable household contribution may include, such as household savings or gifts received by the household. Grants may not be considered part of the household contribution.
The revised AHP Implementation Plan is posted on the Bank’s website. If you have any questions about the AHP or the revised IP, please email Community Investment or call (415) 616-2542.
James E. Yacenda
Vice President and Community Investment Officer