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AFFORDABLE HOUSING PROGRAM (AHP)

Forms and applications for the Affordable Housing Program (AHP) are available on this page. Please contact your community investment manager or a member of the Housing and Community Investment Department staff to obtain forms not listed here.

Click on the links below to go directly to the forms:

AHP Next Steps
AHP Disbursement Request Form
AHP Retention Documents — Mortgages/Notes
AHP Online Reports
AHP Application Package

AHP Application Package

The Bank is pleased to announce the 2010 round of the Affordable Housing Program. The online application may be accessed by members and sponsors from September 7 through October 1, 2010. All applications must be submitted electronically to the Bank by 5:00 p.m. on October 1, 2010.

From June through September 2010, the Bank will hold eight onsite training sessions and two webinars to help members and sponsors understand the scoring process and how to use the online application. You may enroll online for all sessions at www.fhlbboston.com/events.

New Requirements Regarding Sponsor Capacity
In addition to the current information requested in the Sponsor Registration section of the online AHP application, the following documents will be required:

  • A current (within two months) Certificate of Good Standing from the organization's state of formation, or an equivalent (as determined in the Bank’s sole discretion) for each sponsor.
  • For each sponsor, submission of a Bank-supplied statement on the sponsor’s letterhead, signed by the sponsor’s board and/or board chair. If a for-profit sponsor does not have a board of directors, the statement may be signed by the organization's chief executive officer. The statement will include the status of current obligations and verification of compliance with all major funders, including loan and tax payments. See the instructions.

AHP Next Steps
AHP Next Steps Training (PDF)
AHP Next Steps Manual (PDF)
Use these documents as reference guides for required "next steps" associated with an AHP award.

Reporting Forms
Semiannual Progress Report
Use this form to provide semiannual progress reports until an AHP-funded development is complete.

Annual Compliance Certification — Rental
Once an AHP-funded rental development is complete, members and project sponsors must use this form to report annually for 15 years.

Periodic Monitoring Report
Members and project owners that have a rental development receiving more than $50,000 in subsidy must submit this report once every six years after completion. Members and project owners that have a rental development receiving more than $250,000 must submit this report once every four years after completion. Members and project owners that have a rental development receiving more than $500,000 must submit this report and receive a monitoring visit from Bank staff once every two years.

Beginning in November 2008, the AHP regulation does not require any long-term monitoring of completed and placed-in-service affordable-housing projects financed with Low Income Housing Tax Credit equity. This includes both the Annual Compliance Certification and the Periodic Monitoring Report. During development, the Housing and Community Investment department will obtain documentation (copy of Form 8609) confirming the Low Income Housing Tax Credit equity in order to exempt these projects from the long-term monitoring requirements.

Please note: For initiatives requiring this report, the Periodic Monitoring Report has been combined with the Annual Compliance Certification (ACCPMR).

Disbursement
AHP Online Disbursement Request
Beginning March 26, 2010, all AHP Disbursement Requests will be submitted online. The new online request replaces the previous paper form and streamlines the submission of documentation. For ease of use, the screens and functionality are designed to mimic the online AHP application. As with the application, the disbursement request also begins with the sponsor developer, who completes the required information and signs it. The request is then automatically forwarded to the member contact for review and submission.

If you have already submitted an AHP Disbursement Request that is currently in process, you do not need to submit it online. Please note that all future requests should be submitted through the new online system.

AHP Online Disbursement Request Instructions

Guidelines for Determining Household Income
These income guidelines/standards must be used by members for the calculation of household income. The same standards are used by the HCI staff to review and approve household income for both rental and homeownership initiatives.

Retention Documents (Mortgages/Notes) for AHP Owner-Occupied Initiatives

AHP Owner-Occupied Mortgage: CT, ME, VT
This Standard Retention Mortgage is for use in Connecticut, Maine, and Vermont for owner-occupied properties at the time of sale to the home buyer. Please use this form in combination with the AHP Owner-Occupied Standard Retention Note. In Maine and Vermont, the mortgage must be recorded; in Connecticut, both the mortgage and the note must be recorded.

AHP Owner-Occupied Mortgage: MA, NH, RI
This Standard Retention Mortgage is for use in properties in Massachusetts, New Hampshire, and Rhode Island for owner-occupied properties at the time of sale to the home buyer. Please use this form in combination with the AHP Owner-Occupied Standard Retention Note. The mortgage must be recorded in all three states.

AHP Owner-Occupied Standard Retention Note
All six New England states must use this note. In Connecticut, this note must be recorded.

AHP Interim Homeownership Mortgage: MA, RI, NH
For use with AHP homeownership initiatives in these states that are using the AHP Direct Subsidy to fund construction or rehabilitation costs prior to the final sale to the home buyers. Please use this form in combination with the AHP Interim Homeownership Note.

AHP Interim Homeownership Mortgage: CT, ME, VT
For use with AHP homeownership initiatives in these states that are using the AHP direct subsidy to fund construction or rehabilitation costs prior to the final sale to the home buyers. Please use this form in combination with the AHP Interim Homeownership Note. In Maine and Vermont, the mortgage must be recorded; in Connecticut, both the mortgage and the note must be recorded.

AHP Interim Homeownership Standard Retention Note
All six New England states must use this note. In Connecticut, this note must be recorded.

Retention Documents (Mortgages/Notes) for Rental Initiatives
AHP Rental Mortgage: CT, ME, VT
This Standard Retention Mortgage is for use with the AHP direct subsidy/grant in Connecticut, Maine, and Vermont for most rental properties. Please use this form in combination with the AHP Standard Retention Rental Note. In Maine and Vermont, the mortgage must be recorded; in Connecticut, both the mortgage and the note must be recorded.

AHP Rental Mortgage: MA, NH, RI
This Standard Retention Mortgage is for use with the AHP direct subsidy/grant in Massachusetts, New Hampshire, and Rhode Island for most rental properties. Please use this form in combination with the AHP Standard Retention Note. The mortgage must be recorded in all three states.

AHP Standard Retention Rental Note
All six New England states must use this note in AHP direct subsidy/grant transactions for rental initiatives.

AHP Subsidized Advance Rider
This rider is for use in conjunction with a member's loan to the sponsor/owner of a project that is funded by an AHP subsidized advance. The rider ensures the retention of the AHP subsidy used to write down the interest rate. This document can be used in all six New England states.

HUD 202/811 Rider
This rider is for use with a HUD 202/811 rental initiative. The rider ensures the retention of the AHP subsidy used in the project, while using the HUD documents for the transaction. This document can be used in all six New England states.

Collateral Assignment of Mortgage and Note
This document is used to assign the mortgage, note, and proceeds to the member financial institution when the AHP subsidy is lent by the project sponsor to the project owner (usually in a Low Income Housing Tax Credit transaction). It can be used in all six New England states.

Closeout Monitoring
AHP Online Closeout Monitoring Review
Sponsor/developers and members who have completed a development or sold all of the units are required to submit an AHP Closeout Monitoring review. This report is a regulatory obligation that reviews the eligibility, feasibility, need for subsidy, and scoring of the completed development against the commitments made in the original AHP Application. Beginning June 1, 2010, all AHP Closeout Monitoring reviews will be submitted online. The new online request replaces the previous paper form and streamlines the submission of documentation. For ease of use, the screens and functionality are designed to mimic the online AHP application. As with the application, the Closeout Monitoring request also begins with the sponsor/developer, who completes the required information and signs it. The request is then automatically forwarded to the member contact for review and submission.

If you have already submitted an AHP Closeout Monitoring Review that is currently in process, you do not need to submit it online. Please note that all future requests should be submitted through the new online system.

AHP Online Closeout Review Instructions

If you have questions, please contact your community investment manager or a member of the Housing and Community Investment Department staff at 1-888-424-3863.

















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