The Seattle Bank is pleased to announce the availability of approximately $5.9 million for the 2013 AHP funding round. The
2013 AHP Implementation Plan details the
2013 AHP scoring criteria and other requirements, including AHP eligibility criteria and compliance
requirements. Applications for funding are due to the Seattle Bank by August 1, 2013 at 4:00 p.m. Pacific Time. Applications are
electronically time stamped upon their submission through our online application system. Applications submitted after this
deadline will not be eligible for the 2013 AHP funding round.
Project sponsors and/or their development consultants complete the 2013 AHP online application and prepare all required attachments.
- Seattle Bank members may submit the application after they have underwritten it to the standard they would use to provide a loan.
- The AHP application includes: (1) a list of attachments required to evaluate the project’s eligibility and feasibility and to score the project; (2) help text to clarify information and provide important definitions; and (3) data validation prompts that inform the user when certain required information is missing and/or inconsistent. This information must be completed or corrected before the application can be submitted.
Project Sponsor Role
Project sponsors must partner with a Seattle Bank member to submit an AHP application. Project sponsors should use the months before the application due date to establish a relationship with a Seattle Bank member and educate that member about their project’s ability to meet AHP eligibility, feasibility, and compliance requirements. Project sponsors complete the online application and submit it, along with the required attachments and supporting documentation, to the Seattle Bank member that has agreed to consider it for submission to the Seattle Bank. Project sponsors may contract with a development consultant to complete the application; however, project sponsors are ultimately responsible for the information provided in the AHP application.
Seattle Bank Member Role
Seattle Bank members underwrite the project proposed in the AHP application to the standard that would be used if the member were providing a loan to the project. Additionally, members must review the project's schedule to ensure that it will
meet the “milestones to project completion” as outlined in the Implementation Plan and be
complete and occupied within three years of the AHP application approval date. The Seattle Bank fully supports a member's decision to decline an AHP application if the member has not had sufficient time for this review or questions the project's feasibility or its ability to comply with all of the commitments made in the AHP application.
Accessing the AHP Application
Project sponsors, Seattle Bank members, and development consultants (if applicable) must have individual user names and passwords to access the AHP application. Seattle Bank members and project sponsors who have obtained a username and password as part of a previous AHP application process should use their existing login information.
To create a username and password or to obtain a new password, click the Login link in the upper right-hand corner of the Seattle Bank’s website. Scroll down to the Community Investment Services section of the page, and follow the instructions provided. Once you have submitted your request, the Seattle Bank will review the information you provided and assign a temporary password. This process may require up to two business days.
Upon approval, you will receive an email from the Seattle Bank containing a temporary password. Once you have logged in using the temporary password, you will be required to create a new password.
Completing the AHP Application
Project Sponsor Instructions
- Project sponsors are responsible for completing the AHP application. Once the application is completed, the sponsor will select "Submit Draft" within the online application. This will send an email notification to the member that an AHP application is pending their consideration.
- Required attachments:
- An Excel workbook provided in the Required Attachments section of the application includes tabs where the sponsor must enter the project’s Sources and Uses of Funds Statements, Rent Schedule, Rental Pro Forma, Owner-occupied Schedule, Sponsor-provided Mortgage Financing Worksheet (if applicable), and AHP Financial Feasibility Benchmarks. The project sponsor must download and save the Excel workbook and, after completing the required information, upload the workbook to the online application so that it may be included in the draft submitted to the Seattle Bank member. The Excel workbook is the only required attachment that is uploaded within the AHP application.
- All other required attachments and supporting documents must be mailed or faxed to the Seattle Bank member to support the member’s underwriting analysis. The project sponsor is responsible for ensuring that the AHP application number and project name are clearly written on every document.
- The project sponsor may revise the application at any time before selecting “Submit Draft.” During the Seattle Bank member’s review, the project sponsor will have view-only access to the application. If the Seattle Bank member requires revisions, they will choose “Disapprove Application” from the Member Overview page, which will prompt an email notice from the Seattle Bank to the project sponsor. At this point, the project sponsor will have access to the application to make revisions and submit the revised version to the Seattle Bank member. This process may be repeated as many times as necessary before the member submits the application, its required attachments, and supporting documents to the Seattle Bank.
Seattle Bank Member Instructions
Seattle Bank members will receive an email from the Seattle Bank notifying them when a project sponsor has submitted an AHP application for their consideration. To view the application, click Login on the Seattle Bank’s website and select Community Investment Services. Select the AHP application you wish to view from the project menu.
- Seattle Bank members are required to review the AHP application, required attachments, and supporting documents, and underwrite the project to the standard they would use if they were providing a loan to the project. The project’s financial information is provided in an Excel workbook, available on the Required Attachments page of the application. In addition, the project sponsor will mail or fax additional required attachments and supporting documentation to the member to support their underwriting analysis. A member may select “Disapprove Application” if they feel revisions need to be made or if they do not want to approve the application. This action will prompt an email from the Seattle Bank to the project sponsor to notify them of the member’s decision.
- Seattle Bank members must summarize their underwriting analysis of the project on the Member Overview page. Seattle Bank members have view-only access to the AHP application, with the exception of this page.
- To approve an AHP application, click “Approve Application,” which will prompt an email from the Seattle Bank to notify the project sponsor of the member’s decision. The Seattle Bank member must also mail or fax the required attachments and supporting documents to the Seattle Bank.
- Signatures: The Application Signature page is one of the documents the sponsor will include in the required attachments package submitted to the member. In addition to the signature of the sponsor, this page requires the signature of two individuals authorized by the member’s Resolution for Transacting Business with the Federal Home Loan Bank of Seattle (Resolution). If you need assistance locating your Resolution, please contact the Community Investment Department at the number listed below.
Please email or send via overnight mail the required attachments and supporting documentation to:
Federal Home Loan Bank of Seattle
Attn: AHP Application
1001 Fourth Avenue, Suite 2600
Seattle, Washington 98154
Email electronic required attachments and supporting documentation to firstname.lastname@example.org (Please be sure to reference your application name and number in your email.)
AHP applications will be reviewed by the Seattle Bank upon submission. Awards will be announced in mid-December 2013.
For questions about the AHP website registration process or the AHP application, scoring, eligibility, or feasibility criteria, please contact DeAnna Poling (206.340.2429).