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AHP Disbursement Requests: Rental Projects Instructions


Disbursement Type II: Construction Not Complete—Financials Adjusted from Application
 
Select this option if project construction is not complete and any element of either the project development budget (sources and uses of funds) or the project estimated operating pro forma submitted with the original approved application have changed.
 
Step 1: When the project sponsor is ready to request disbursement of awarded AHP subsidy for an approved project, the project sponsor reviews current project information against original project commitments (as demonstrated in Exhibit A: Project Evaluation Form of the Affordable Housing Program Direct Subsidy Agreement - Rental Projects). If project commitments have changed, the project sponsor and member must submit a Modification Worksheet (.doc).
 
Step 2: The project sponsor reviews, completes, and signs the Member and Project Sponsor Acknowledgement of Required Documentation Letter (.doc).
 
Step 3: The project sponsor completes the Rental Financial Workbook (.xls).
Provide current financial information, and where required, indicate the financial statement preparation date.
 
All worksheets must be completed to provide a comparison of current project financials to project financial information submitted with the original approved application. Explain project financial changes or variances from the original approved application.
 
Complete the worksheets sequentially.
 
Step 4: The project sponsor sends complete disbursement request information to the member.
 
Step 5: The member reviews disbursement request information submitted by the project sponsor.
 
Step 6: The member reviews and signs the Member and Project Sponsor Acknowledgement of Required Documentation Letter.
 
Step 7: The member provides a draft AHP Note and Deed of Trust that will be used to secure the AHP funds.
 
Step 8: The member completes and signs the Disbursement Request Form (.doc). The Bank will only accept original, not faxed, forms when processing disbursement requests.
 
Step 9: The member reviews and completes the AHP Rental Disbursement Request Checklist (.doc) prior to submitting the disbursement request to the Bank.
 
Step 10: The member mails complete disbursement request information to the attention of:
 
Manny Ungson
Community Investment Manager
Federal Home Loan Bank of San Francisco
600 California Street, Suite 300
San Francisco, CA 94108
© 2000-2009 Federal Home Loan Bank of San Francisco
Federal Home Loan Bank of San Francisco

AHP Disbursement Requests: Rental Projects Instructions

Go to General Information

Disbursement Type II: Construction Not Complete—Financials Adjusted from Application
 
Select this option if project construction is not complete and any element of either the project development budget (sources and uses of funds) or the project estimated operating pro forma submitted with the original approved application have changed.
 
Step 1: When the project sponsor is ready to request disbursement of awarded AHP subsidy for an approved project, the project sponsor reviews current project information against original project commitments (as demonstrated in Exhibit A: Project Evaluation Form of the Affordable Housing Program Direct Subsidy Agreement - Rental Projects). If project commitments have changed, the project sponsor and member must submit a Modification Worksheet (.doc).
 
Step 2: The project sponsor reviews, completes, and signs the Member and Project Sponsor Acknowledgement of Required Documentation Letter (.doc).
 
Step 3: The project sponsor completes the Rental Financial Workbook (.xls).
Provide current financial information, and where required, indicate the financial statement preparation date.
 
All worksheets must be completed to provide a comparison of current project financials to project financial information submitted with the original approved application. Explain project financial changes or variances from the original approved application.
 
Complete the worksheets sequentially.
 
Step 4: The project sponsor sends complete disbursement request information to the member.
 
Step 5: The member reviews disbursement request information submitted by the project sponsor.
 
Step 6: The member reviews and signs the Member and Project Sponsor Acknowledgement of Required Documentation Letter.
 
Step 7: The member provides a draft AHP Note and Deed of Trust that will be used to secure the AHP funds.
 
Step 8: The member completes and signs the Disbursement Request Form (.doc). The Bank will only accept original, not faxed, forms when processing disbursement requests.
 
Step 9: The member reviews and completes the AHP Rental Disbursement Request Checklist (.doc) prior to submitting the disbursement request to the Bank.
 
Step 10: The member mails complete disbursement request information to the attention of:
 
Manny Ungson
Community Investment Manager
Federal Home Loan Bank of San Francisco
600 California Street, Suite 300
San Francisco, CA 94108



© 2000-2008 Federal Home Loan Bank of San Francisco