POLICY UPDATES

December 30, 2020

The following changes will be in effect on January 1, 2021.

Homebuyer Retention Documents

Revised the retention agreements for AHP, WISH, and IDEA program templates to clarify the definition of “Retention Period” and removed provisions for “Homebuyer Noncompliance.”

Homebuyer Repayment Workbook

Incorporated the Homebuyer Income Proxy methodology in determining potential repayments for AHP-assisted households that sell their home within the five-year retention period.

The following Implementation Plan changes will be in effect on January 1, 2021.

AHP General Fund Application

Sponsorship by a Not-For-Profit Organization or Government Entity Scoring (Attachment B, Section II)

1. Ownership Interests of the Project or the General Partner: Clarified that nonprofit sponsors with a 50% ownership interest earn 2 points in this category and nonprofit sponsors with a 30% ownership interest earn 0 points.

Community Stability Scoring (Attachment B, Section X.4.)

1. Revitalizing Neighborhoods by Optimizing Project Site Use or Preserving Affordable Housing: Separated the “Demolition or Substantial Rehabilitation of Vacant, Abandoned, or Substandard Buildings, which includes the preservation of affordable housing” into two questions.

1. Sustainable Developments: Increased the scoring of the Enterprise Green Communities certification from 1 to 2 points and added another certification to the 4-point green building scoring criterion.

The revised Implementation Plan (IP) also reflects the changes announced on April 23, 2020 and October 14, 2020 and redline version of the IP outlining changes from the prior version is available.

Please email ahp@fhlbsf.com with any questions.