Affordable Housing Program (AHP)

Each year since 1990, the HLB has set aside 10% of its private earnings to support the creation and preservation of housing for lower income families and individuals through the Affordable Housing Program (AHP). AHP funds are awarded to members who submit applications on behalf of project sponsors who are planning to purchase, rehabilitate, or construct affordable homes or apartments. Funds are awarded through a competitive process which typically takes place either once or twice a year, at the HLB's discretion.

Benefits to Members:

  • Gain CRA credit for successful participation
  • Strengthen the community you serve
  • Build relationships with non-profit groups and businesses

Eligible Uses of AHP Funds:

Acquisition, construction, or rehabilitation of:

Rental Housing

  • In which at least 20% of the project's occupants must earn 50% or less of the area median income

Owner-Occupied Housing

  • In which households earn 80% or less of the area median income

Eligible projects may include:

  • 1-to-4 unit houses
  • Co-ops
  • Condos
  • Apartments
  • Single-room occupancy facilities
  • Shelters
  • Transitional housing
  • Mutual housing associations
  • Group Homes

AHP Success Stories

Independence Crossing
Member: Citibank
Project Name: Independence Crossing

Morgan Village
Member: New Jersey Housing & Mortgage Finance Agency
Project Name: Morgan Village

› Other Success Stories

Questions?

Email us at ahp@fhlbny.com.