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Bulletin No. 1347 | February 11, 2010

Revised Affordable Housing Program Implementation Plan

To All Members and Project Sponsors:

We have revised our Affordable Housing Program (AHP) Implementation Plan. The following changes are effective immediately:

AHP Competitive Program

  • Basic Project Eligibility (Section II.B.2.d, Page 3): Decreases the maximum subsidy a project may request from $1.5 to $1 million.
  • Feasibility Analysis Standards (Attachment A, Exhibit 1, Page 20): Changes the range of tax credit sales prices from $0.85 - $1.00 to $0.70 - $0.85 within the benchmarks used to establish feasibility and need for subsidy of a rental project.
  • Scoring Guidelines (Attachment B, Page 30): Renames the “After-school care services and programs” feature to “After-school or out-of-school services and programs” and expands the feature to include programs targeted to youth up to age 17.

Homeownership Set-Aside Programs

Homeownership Preservation Subsidy (HPS) and Hope for Homeowners-Homeownership Preservation Subsidy (H4H-HPS) Programs (Section III (C) and (D), Pages 10-17): Deletes section III (C) and (D) referencing the Homeownership Preservation Subsidy (HPS) and the Hope for Homeowners-Homeownership Preservation Subsidy (H4H-HPS) programs.

The revised Implementation Plan is posted on the Bank’s website at If you have any questions about the AHP or these changes, please email Community Investment or call (415) 616-2542.



James E. Yacenda