New AHP Monitoring Requirements

To All Members and Project Sponsors:

The Federal Home Loan Bank of San Francisco will put into place procedures to monitor projects that receive scoring credit under the Homeless Housing and the Empowerment criteria.

Homeless Housing

For any project awarded an AHP subsidy in 2008 or thereafter that receives scoring credit for reserving units for homeless households, the Bank will require, at the time of initial monitoring, documentation confirming that the specified units have been reserved. This documentation must include:

• Evidence that the household was referred to the project by an established organization or agency that has been providing services to the homeless for at least three years, and
• Certification from the homeless service provider that the person or household referred to the project meets the definition of “homeless households” included in the Bank’s AHP Implementation Plan.

Promotion of Empowerment

For AHP projects that receive or have received scoring credit for the provision of services to residents, the Bank may require documentation at the time of initial monitoring to confirm that these services are in place. This will be in addition to the certification provided by the project owner.

If you have any questions about these new requirements or the AHP, please call the Community Investment Department at (415) 616-2542.

Sincerely,

Emmanuel R. Ungson
Assistant Vice President, Community Investment Manager, Research and Analysis