Affordable Housing Corporation (AHC) Grantee Forms & Information

Affordable Housing Corporation (AHC) Grantee Forms & Information
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Overview

If you are already an AHC Grantee, the forms and information you need are available here.

Once an application for AHC funding has been approved, a Grant Award Letter is sent to the applicant requesting certain required documentation and exhibits prior to the execution of the Grant Agreement. When exhibits have been approved and all issues resolved, a Grant Agreement is drawn up and executed by the applicant (Grantee) and AHC management. The process from this point on can be divided into three phases. Click on each phase to learn more.

Phase I: Contract Execution

Once an application has been approved for funding from AHC, a Grant Award Letter is sent to the Grantee who has 30 days upon which to sign and return the letter.

When the letter has been returned and updated Exhibits are submitted, along with other applicable documents, a Grant Agreement is drawn up.

Phase II: Disbursement of Funds

The disbursement of funds can begin as soon as the Grant Agreement has been executed by the Grantee and AHC management.

NOTE:

  • There are new forms for the 2019-2020 (R series) disbursement process. Please make sure you submit the correct forms or they will be returned.
  • For all unknown sites, an environmental site specific checklist must be completed.

For each draw, the Grantee is required to submit the appropriate documentation. Please email Elaine Chang, Assistant Vice President at AHC, at [email protected] with any questions regarding the disbursement process.

 

If you are an NPC/RPC, please click here for the Form D-9 - NPC/RPC Certification 3% Request.

NOTE:

  • Grantees will be strictly held to the financial plans submitted and accepted within the Grant Agreements.
  • For all Projects receiving administrative fees (not including NPC/RPC 3% funds), you will need to submit the AHC Form D-11: Administrative Funds Detail Sheet. This form should be submitted with each draw where administrative funds are being requested. 
  • Please note that AHC expects all administrative fees to be secured by AHC mortgages as part of the grand funds received by a homebuyer/homeowner.

New Construction Projects

A separate requisition package is required for each unit assisted with AHC funds. The forms necessary for a draw are:

If the New Construction project is utilizing AHC funds for construction financing only, please utilize the following forms, and contact your Project Manager for further instruction:

 

Acquisition/Rehabilitation Projects

A separate requisition is required for each unit assisted with AHC funds.

 

Home Improvement Projects

Requisitions for up to 25% of the entire grant amount may be submitted. Multiple families can be on the same requisition package.

Phase III: Compliance Period

In accordance with the terms of the Grant Agreement, the Grantee has a continuing responsibility and obligation to monitor the homes developed or improved under the Grant Agreement. This obligation remains in force for the term of the AHC lien on the property. The term of the lien depends on the amount of the subsidy, and may be for up to ten years. Click here for the F-8 Occupancy Period/Repayment Obligation chart.

Per Project

As units are sold or improved, the Grantee is responsible for obtaining and filing the appropriate AHC Note and Mortgage. All of the original Notes and Mortgages are to be returned to AHC with the Project close-out documentation.

While the project is ongoing, the Grantee is responsible for submitting quarterly progress reports (Unit Status Report) through the GUS reporting system and complying with MWBE reporting requirements.

The Grantee is responsible for submitting close-out documentation no later than six months following the completion of the last unit. Following the close-out of a project, an annual summary report certification as well as occupancy monitoring is required.

A homeowner may decide to repay the remaining lien amount, ask approval for an assumption or ask AHC to subordinate to another mortgage. AHC reserves the right to approve or reject assumption and subordination requests. It is the responsibility of the Grantee to assist the homeowner in filling out the proper documentation and acting as the liaison between the homeowner and AHC.

FAQ's for Grantees

Who can we contact with other AHC questions?

For grant disbursement purposes, please contact the Assistant Vice President. For all other questions regarding your grant, please contact the appropriate regional Project Manager.

Why is AHC project monitoring necessary?

Project monitoring is just one of several ways for AHC to ensure that Grantees are in compliance with AHC rules and regulations.

Who do we send the AHC note and mortgage to?

Grantees should scan the filed mortgage and send to [email protected]. The grantee should retain all filed mortgages related to the projects.

How do we close-out an AHC project?

Within six months of a project being completely disbursed, a close-out is required for all projects. Please click here for a close-out certification form. In addition to the close-out certification form, any unused funds or interest must be returned to AHC, a final unit status report must be submitted through the GUS system, and the project must also be approved by the Office of Economic Opportunity and Partnership Development for MWBE close-out compliance. 

What is an AHC recapture?

A recapture may occur when a Grantee does not need or utilize AHC grant funds. AHC funds are returned but the funds do not go back into the project.

A homeowner has submitted an AHC subordination request. What do we do?

The Grantee should assist the homeowner in completing the subordination request.

Click here for the AHC subordination request form. Please complete and submit to the AHC AVP who currently reviews subordination requests. Please note that AHC does not subordinate to cash outs, consolidation of debt, or reverse mortgages. AHC reserves the right to approve or deny subordination requests. 

How do we calculate an AHC repayment amount?

Contact the Project Manager that handles satisfactions to guide you in determining the appropriate repayment amount. You may click here to see the repayment chart.

What is the process for obtaining AHC approval for an assumption?

The Grantee should assist the homeowner in completing the AHC assumption request form and submitting it to AHC. Click here to see the assumption request form.

A homeowner who received AHC funds wants to sell his home, but has not lived in the home for the full regulatory period. What are his options?

The homeowner may request approval of an assumption or pay off the remainder of the lien amount.

How do we obtain a satisfaction on an AHC lien?

If the homeowner has lived in the home for the full regulatory period, AHC will issue a satisfaction upon the request of the Grantee. Please contact the Project Manager that handles satisfactions to guide you through the appropriate process.

What do we do if a homeowner decides not to purchase a home utilizing AHC funds earmarked for the purchase?

Contact the Program Manager and return the check. The Program Manager will guide you through the appropriate process.

When can we start drawing down AHC funds?

Once the grant agreement has been executed by both parties, the disbursement of funds may begin.

We just got approved for an AHC grant. Why do we need to resubmit our exhibits?

AHC requires resubmission of exhibits due to possible changes and revisions that may have occurred during the application process. In addition, the exhibits that are required for the Grant Agreement may differ from the exhibits that were required for the application.