Staff from the FHLBNY, Banco Popular, and Habitat for Humanity
The 2018 AHP round for the first time included scoring categories for small projects (those with 25 or fewer units) and owner-occupied projects. There was compelling evidence that these projects were previously less likely to be competitive in the scoring phase of the application process. The new categories have gone a long way toward rectifying that disadvantage, though small and owner-occupied projects must still score well in other categories to receive an AHP commitment. In January 2019, FHLBNY staff were honored to present a check to one of the beneficiaries of these changes, Habitat for Humanity of Puerto Rico, along with its partner, Banco Popular de Puerto Rico. The organization’s Habitat Quintana project, in San Juan, consists of the construction of a three-unit condominium building. The project received a $45,000 commitment in the 2018 AHP round.
AHP is a subsidy program in which funds are awarded through a competitive process to member lenders in support of projects that create and/or preserve housing for lower income families and individuals. For more information on the AHP program, or to see if the housing project you have in mind is eligible for AHP funding, contact us at (212) 441-6850 or ahp@fhlbny.com.
