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FHLBank Atlanta Releases Three-Year Application Schedule for AHP Competitive




by:
Alysse E. Hollis
Jones Walker LLP - Cincinnati Office

Rick A. Lazio
Jones Walker LLP - New York Office

John Weld Peck
Jones Walker LLP - Cincinnati Office

 
November 5, 2013

Previously published on October 2013

The Federal Home Loan Bank of Atlanta (the "FHLBank Atlanta") has released the three-year application schedule for its Affordable Housing Program Competitive ("AHP").

The AHP is a competitive grant program that provides ea ch award recipient with up to $500,000 to subsidize the acquisition, construction, and rehabilitation of residential re ntal housing for individuals and families of moderate, low, and very low income. AHP funds can be used for construction financing, permanent financing, principal reduction, or interest rate buy-down. AHP funds can be used in combination with other programs such as the Low Income Housing Tax Credit and tax-exempt bonds.

Each Federal Home Loan Bank branch has an AHP, which is funded with 10 percent of that branch's annual earnings.



 

The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 

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