Federal Home Loan Bank of Boston will contribute $24.2 million to the 2014 Affordable Housing and Equity Builder Programs - May 1, 2014

FHLBBoston 

2014 AFFORDABLE HOUSING PROGRAM

April 30, 2014

TO: All Members and Housing Organizations

I am pleased to announce that the Federal Home Loan Bank of Boston will contribute $24.2 million to the 2014 Affordable Housing and Equity Builder Programs. Of this, $20.6 million will be allocated to the AHP and $3.6 million will be allocated to the EBP.

The Bank will maintain individual AHP application subsidy limits at $500,000 in direct subsidy and $1 million in total subsidy, including the subsidized advance interest-rate subsidy.

The online AHP application may be accessed by members and sponsors on our website, www.fhlbboston.com, from July 28 through September 12, 2014. Please note that all applications, including supporting documentation, must be submitted electronically to the Bank by 5:00 p.m. on Friday, September 12, 2014.

We ask that members and sponsors start discussions early to establish their working relationship that will extend through the application submission process and beyond, if the initiative is awarded funding. Beginning in May, we will hold multiple training sessions and online webinars to help you understand the competitive application process and how to apply online. Please register online at www.fhlbboston.com/events. The updated 2014 AHP Implementation Plan and the Notice of Changes, including the application instructions and detailed scoring criteria and guidelines, are also available on our website. As always, our Housing and Community Investment staff (1-888-424-3863) will be happy to answer your questions and provide technical assistance.

Thank you for your commitment to addressing affordable-housing development needs across New England.

Sincerely,

Edward A. Hjerpe III

President and Chief Executive Officer