Affordable Housing Program (AHP) 2014 Competitive Offering

Affordable Housing Program(AHP) 2014 Competitive Offering

Overview of the Application Process

2014 FEDERAL HOME LOAN BANK OF NEW YORK 101 PARK AVENUE NEW YORK, NY 10178 WWW.FHLBNY.COMFEDERAL HOME LOAN BANK OF NEW YORK12014 Competitive AHP Allocation: $22,072,379

AHP Application OverviewSubmission Deadline: Friday, July 11th

Applications and corresponding documentation must be submitted by USB Flash Drive

All applications must be submitted through a FHLB-NY stockholder institution, or MemberA list of Members is accessible on the FHLB-NY website at http://www.fhlbny.com/members/membership-list.aspx

FEDERAL HOME LOAN BANK OF NEW YORK2014 AHP applicants must utilize an electronic application (AHP/APP-001) Application Submission ProcessReview the Exhibit Cover Pages to provide corresponding information and documentation

Failure to include documentation related to eligibility or scoring may result in a reduction in score or a projects elimination from the round

FEDERAL HOME LOAN BANK OF NEW YORKMinimum Eligibility RequirementsAll application submissions must meet the Banks Minimum Eligibility Requirements

For more information regarding the AHP Minimum Eligibility Requirements, please review the 2014 AHP Implementation Plan http://www.fhlbny.com/forms/ahp_100.pdf

FEDERAL HOME LOAN BANK OF NEW YORKScoring PhaseThere are 9 scoring categories that total 100 points.Donated Properties (5 points)Not-for-Profit / Government Entity Sponsorship (10 points)Targeting (20 points)Homeless Housing (7 points)Empowerment (5 points)Community Stability (22 points)First District Priority (6 points)Second District Priority (20 points)Subsidy Per Unit (5 points)

FEDERAL HOME LOAN BANK OF NEW YORKThe highest ranking eligible applications will be reviewed to confirm whether the project is financially feasible and consistent with the AHP Feasibility Guidelines

Financial Feasibility ReviewProvide detailed explanations if any items are outside of the AHP Financial Feasibility Analysis Guidelines (AHP-101)

FEDERAL HOME LOAN BANK OF NEW YORKAHP funds are awarded to the highest ranking projects that demonstrate a need for AHP fundsProject ApprovalRound results will be announced by January 2015Commitment agreements and Memorandums of Understanding will be distributed to approved projects after round results are announcedOnce the allocation of AHP subsidy is depleted, the next four ranked projects are selected as alternates

FEDERAL HOME LOAN BANK OF NEW YORKReview the following before completing your application:AHP Implementation Plan (AHP-100) AHP Feasibility Guidelines (AHP-101)AHP Application Manual (AHP/APP-102) and (AHP/APP-106)

See detailed tutorials on our website for additional assistance with the following application package materials:Application (AHP/APP-001)Rental Project Workbook (AHP/APP-108) Owner Project Worksheet (AHP/APP-104) Cost Feasibility Tool (AHP/APP-109)

Additional Application Assistance

FEDERAL HOME LOAN BANK OF NEW YORKQuestions?Please e-mail us at ahp@fhlbny.com

101 PARK AVENUE NEW YORK, NY 10178 WWW.FHLBNY.COMAdvancing Housing and Community GrowthThe information provided by the Federal Home Loan Bank of New York (FHLBNY) in this communications is set forth for informational purposes only. The information should not be construed as an opinion, recommendation or solicitation regarding the use of any financial strategy and/or the purchase or sale of any financial instrument. All customers are advised to conduct their own independent due diligence before making any financial decisions. Please note that the past performance of any FHLBNY service or product should not be viewed as a guarantee of future results. Also, the information presented here and/or the services or products provided by the FHLBNY may change at any time without notice.FEDERAL HOME LOAN BANK OF NEW YORK