The Federal Housing Finance Agency issued a Final Rule amending the Affordable Housing Program (AHP) Regulation on November 28, 2018. The deadline for full implementation of all provisions of the Final Rule is January 1, 2021.
To meet the deadline of January 1, 2021 for full implementation of the Final Rule in advance of the 2021 AHP funding competition, the Bank has made Implementation Plan (IP) revisions related to the competitive AHP only. These changes were developed in response to requirements in the Final Rule, guidance and feedback from the Bank’s Affordable Housing Advisory Council, and findings from extensive research the Bank undertook to identify and assess significant affordable housing needs in our district.
The revisions to the scoring categories highlighted below have been approved by the Bank’s Board of Directors and are reflected in the IP, but will not be effective until January 1, 2021.
Competitive AHP Scoring
In addition to the scoring category changes referenced above, scoring priorities and categories have been brought into alignment with the mandatory statutory and regulatory naming conventions of the Final Rule.
The revised AHP IP that will be effective January 1, 2021 is posted on the Bank’s website now for your information only, along with a redline version that will be available online until May 31, 2020.