To All Members and Project Sponsors:
The following change to our Affordable Housing Program (AHP) Implementation Plan (IP) is effective immediately:
On-Site Monitoring (Attachment C, Section IV)
A provision has been added to the Bank’s AHP Compliance Monitoring Guidelines, stating that the Bank, at its discretion, will conduct on-site monitoring of AHP projects. The decision to conduct a site visit will be based on factors related to the project’s status, including, but not limited to, compliance with AHP requirements, AHP subsidy amount, material changes to the project since approval, and information from other monitoring entities.
A redline version of the IP will be available online until May 31. The revised AHP Implementation Plan is posted on the Bank’s website. If you have any questions about the AHP or the revised IP, please email Community Investment or call (415) 616-2542.
James E. Yacenda
Vice President and Community Investment Officer