How long does the FHLB-NY maintain AHP funding reservations?
• • The initial AHP commitment is issued for a period of approximately six months. Thereafter, subject to adequate supporting documentation that the sponsor has a reasonable pipeline of households and the development of the project is satisfactorily progressing, the FHLB-NY may, in its sole discretion, approve subsequent extensions of the AHP commitment for a period of time not to exceed six months. If the AHP funds have not been fully drawn within 3 years of the issuance date of the AHP commitment, the FHLB-NY reserves the right to cancel the AHP commitment.
