Partnering with nonprofits, developers, and local governments, we share your passion for building strong communities through affordable homes.
Our comprehensive services expertly manage and guide your Affordable Housing Program (AHP) application submission, strategically positioning your projects for success.
Our goal is to lay a solid foundation for your project's success. We help with planning for your AHP project, covering all essential aspects.
We manage the entire AHP application process from start to finish, including narratives, attachments, document reviews, and input into the application system.
We offer dedicated support in responding to any Federal Home Loan Bank communications throughout the AHP application and review process.
Gain a significant advantage with our experience and expertise, positioning your application for success while saving you valuable staff time and resources. Our goal is to make your experience applying for AHP funding easy, optimized, and successful.
Navigate the complexities of FHLB’s AHP application process and project guidelines with confidence and clarity
Streamline the application process through effective project management, efficiently meeting deadlines and reducing the risk of costly errors
Increase the viability and competitiveness of applications to win more funding for your affordable housing projects
The Federal Home Loan Bank (FHLB) is a government-sponsored system of 11 regional banks across the U.S. designed to support community investment. Structured as a sort of co-op supported by its Member financial institutions (essentially a bank for other banks), it provides financial products and services to Members to support community investments like housing, jobs, and economic growth.
The Affordable Housing Program (AHP) is one of the flagship initiatives by the FHLB aimed at helping create affordable and sustainable housing for low- to moderate-income families. Through AHP, subsidies are provided to support projects including affordable homeownership, rental development, and home repairs for low-income owners.
AHP subsidy awards are not like direct grants or charitable contributions to developers. Instead, applications for projects are submitted by FHLB Members on behalf of developers, who act as project Sponsors. The subsidy is awarded to the Member in support of the project, highlighting a partnership approach to funding affordable housing. Your eligible development costs are then reimbursed through the Member by the AHP subsidy award.
Developers serve as the project Sponsor, overseeing the housing development. Their project costs are reimbursed by the Member utilizing the AHP award. This setup emphasizes collaboration between developers and FHLB members to achieve common housing goals. AHP project applications are typically developed and driven by prospective Sponsors.
Project Sponsors can be a variety of organizations or entities, including non-profit organizations, local governments, quasi-governmental entities like land banks and housing and redevelopment authorities, community land trusts, and for-profit developers. These Sponsors are pivotal in planning and managing the affordable housing projects, ensuring they meet AHP’s criteria and serve the intended communities effectively. It’s a collaborative effort, with Sponsors working closely with FHLB Member institutions, who submit the AHP applications and oversee the subsidy. This partnership is essential for bringing affordable housing projects to life, supporting those in need.
AHP subsidies are versatile and can support a wide range of housing projects. This includes affordable homeownership, rental development, and low-income home repairs. Projects can include new construction or the rehab of existing structures, including vacant and blighted homes. The key is that these projects must serve low- to moderate-income individuals and families.
Although AHP subsidy awards are commonly referred to as grants, they are not like direct grants or charitable contributions. The AHP subsidy can be likened to a forgivable loan or equity investment. Its award and use for your project is contingent on meeting certain conditions. These include affordability retention periods (5 years for ownership projects, and 15 years for rental) and commitments to target low-income households and vulnerable populations, such as the homeless, physically and mentally disabled, seniors, and veterans.
Applying for AHP subsidy awards can be complex and competitive. My previous experience as an AHP application reviewer for FHLB gives us unique insights into what makes an application successful. I understand the nuances of the process and can help strengthen your application to increase your chances of securing funding. With us, it’s not just about applying; it’s about success.
No, we are not traditional grant writers. Our expertise lies in project planning, application preparation, and submission support, exclusively for securing project-specific subsidy through the Federal Home Loan Bank’s Affordable Housing Program (AHP). Our role is advisory and preparatory, focusing on developing project proposals and facilitating applications. We don’t engage in any direct or indirect public fundraising.
Unlike many consultants, we charge a relatively low base fee for completing the AHP application to keep your upfront costs minimal. This fee varies and is determined by how complex your project is. Then, if your application is successful and your project is awarded AHP subsidy, we charge a success fee based on the award amount. This structure is designed to align our interests and underscores our commitment to not just apply but to be successful.
Absolutely. When we succeed in securing an AHP grant for your project, our consulting fees can be reimbursed directly from the award. This setup ensures that you face minimal upfront costs, making it financially feasible to seek expert guidance for your affordable housing initiatives. It’s a partnership model where our compensation is tied to the success of your project, reinforcing our mutual commitment to creating impactful, affordable housing.
Our approach is straightforward and client-focused. Having been on the inside, we know what reviewers are looking for and how to present your project in the best light. Repeat clients and successful applications underscores the value we are proud to provide. Our fee structure is designed to be affordable, reducing your initial costs and aligning our success. Let’s make your vision for affordable housing a reality together.
As of the end of 2024, we have helped our clients secure a total of 27 AHP awards totaling nearly $16,000,000 in support of 583 units of affordable housing.