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Access to Housing and Economic Assistance for Development (AHEAD) Program
The AHEAD Program supports targeted economic development and affordable housing projects and initiatives during the conception and early development stages. AHEAD grants, made to Bank members working with local community groups, can be used to fund projects that will produce housing, services, or other benefits for low- to moderate-income households, result in the creation or retention of jobs, or facilitate public or private infrastructure improvements.
Uses
Key Advantages
- Grants can be used for a wide range of eligible purposes
- Funds are awarded based on program eligibility, not on competitive scoring
Key Features and Guidelines
Funds Available
The amount of funds available for AHEAD Program grants is posted on the Bank's website annually.
Eligible Projects
Projects must be located in Arizona, California, or Nevada and be eligible under the Bank's Community Investment Program (CIP) or Advances for Community Enterprise (ACE) Program, which provide advances for projects that offer housing, services, or other benefits to low- to moderate-income households; that result in the creation or retention of jobs in the community; or that facilitate public or private infrastructure projects. Sponsors must be nonprofit organizations engaged in affordable housing or community development activities in Arizona, California, or Nevada.
Eligible Use of Funds
Support organizational and capacity-building activities Obtain assistance in applying for loans and grants from other funding sources Finance research, studies, and planning Pay for architectural, engineering, survey, legal, administrative and other professional services Other purposes deemed eligible by the Bank
Applications
Application deadlines and materials are typically posted on the Bank's website annually.
Review Process
The Bank will approve grants based on the evaluation of the grant application. Member commitment, whether financial or otherwise, will be considered in the grant selection process. Sponsors must demonstrate the capacity to execute the proposed project.
Disbursement of Funds
Funds will be provided through a grant to the member. Subject to the terms and conditions of this Agreement and the satisfaction thereof by the Member and the Project Sponsor, the Member agrees to disburse to the Project Sponsor, the Grant amount received by the Member from the Bank within thirty (30) days of receipt of the funds by the Member. The Project Sponsor must request disbursement of the Grant by the last business day of the calendar year following the Effective Date of this Agreement. If the Project Sponsor does not use the Grant for the approved purposes within three (3) years of the effective date, the Bank, in its sole discretion, may cancel the Grant. The grant is not an indebtedness of the member or the project sponsor and will not be secured by a retention mechanism.
Repayment and Monitoring
AHEAD is a recoverable grant program. If the funded project reaches the operational goals outlined in the application and the purpose of the grant has been served, then the project sponsor must make its best effort to repay the grant to the Bank within three years after being informed of the grant award.
The project sponsor will provide to the member and the Bank annual status reports for a period of up to three years following notification of the grant award and a final status report at termination of the agreement, outlining the status of the project, including financial statements showing expenditures of the grant funds and any significant variances to the project’s budgeted use of the grant. The reports will also include an account of what the project has accomplished during the report period toward achieving the goals and objectives outlined in the application, and an assessment of whether the project has been successful in meeting any of these goals and objectives during the report period.
Last Modified: April 2011
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|
|
|
|
|
Access to Housing and Economic Assistance for Development (AHEAD) Program
The AHEAD Program supports targeted economic development and affordable housing projects and initiatives during the conception and early development stages. AHEAD grants, made to Bank members working with local community groups, can be used to fund projects that will produce housing, services, or other benefits for low- to moderate-income households, result in the creation or retention of jobs, or facilitate public or private infrastructure improvements.
Uses
Key Advantages
- Grants can be used for a wide range of eligible purposes
- Funds are awarded based on program eligibility, not on competitive scoring
Key Features and Guidelines
Funds Available
The amount of funds available for AHEAD Program grants is posted on the Bank's website annually.
Eligible Projects
Projects must be located in Arizona, California, or Nevada and be eligible under the Bank's Community Investment Program (CIP) or Advances for Community Enterprise (ACE) Program, which provide advances for projects that offer housing, services, or other benefits to low- to moderate-income households; that result in the creation or retention of jobs in the community; or that facilitate public or private infrastructure projects. Sponsors must be nonprofit organizations engaged in affordable housing or community development activities in Arizona, California, or Nevada.
Eligible Use of Funds
Support organizational and capacity-building activities
Obtain assistance in applying for loans and grants from other funding sources
Finance research, studies, and planning
Pay for architectural, engineering, survey, legal, administrative and other professional services
Other purposes deemed eligible by the Bank
Applications
Application deadlines and materials are typically posted on the Bank's website annually.
Review Process
The Bank will approve grants based on the evaluation of the grant application. Member commitment, whether financial or otherwise, will be considered in the grant selection process. Sponsors must demonstrate the capacity to execute the proposed project.
Disbursement of Funds
Funds will be provided through a grant to the member. Subject to the terms and conditions of this Agreement and the satisfaction thereof by the Member and the Project Sponsor, the Member agrees to disburse to the Project Sponsor, the Grant amount received by the Member from the Bank within thirty (30) days of receipt of the funds by the Member. The Project Sponsor must request disbursement of the Grant by the last business day of the calendar year following the Effective Date of this Agreement. If the Project Sponsor does not use the Grant for the approved purposes within three (3) years of the effective date, the Bank, in its sole discretion, may cancel the Grant. The grant is not an indebtedness of the member or the project sponsor and will not be secured by a retention mechanism.
Repayment and Monitoring
AHEAD is a recoverable grant program. If the funded project reaches the operational goals outlined in the application and the purpose of the grant has been served, then the project sponsor must make its best effort to repay the grant to the Bank within three years after being informed of the grant award.
The project sponsor will provide to the member and the Bank annual status reports for a period of up to three years following notification of the grant award and a final status report at termination of the agreement, outlining the status of the project, including financial statements showing expenditures of the grant funds and any significant variances to the project’s budgeted use of the grant. The reports will also include an account of what the project has accomplished during the report period toward achieving the goals and objectives outlined in the application, and an assessment of whether the project has been successful in meeting any of these goals and objectives during the report period.
Last Modified: April 2011
© 2000-2012 Federal Home Loan Bank of San Francisco
Grant Programs
AHP