To All Members and Project Sponsors:
We have revised our Affordable Housing Program (AHP) Implementation Plan. The following key changes are effective as of AHP Round B 2008:
With respect to the Feasibility Analysis and Need for Subsidy Standards, revises the annual per-unit benchmarks for operating cost and replacement reserves.
With respect to the Scoring Guidelines, amends the Homeless Housing scoring criterion to clarify the Bank’s definition of a homeless household and the documentation requirements for compliance monitoring.
The revised plan is posted on the Bank’s website at fhlbsf.com/ci/applications/ahp/imp_plan.pdf.
If you have any questions about the AHP or the revised plan, please call the Community Investment Department at (415) 616 2542.
James E. Yacenda
Vice President and Community Investment Officer