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Bulletins and Notices
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 fhlbsf.com. If you have any questions about the AHP or these changes, please email Community Investment or call (415) 616-2542.

Sincerely,

 

James E. Yacenda