How long will the FHLB-NY have an interest in AHP-assisted projects?
• • AHP-assisted projects must comply with the federal AHP regulation for a period of 15 years (“Retention Period”). The Retention Period begins on the date that the Certificate of Occupancy is issued. (For projects that are being rehabilitated, the AHP retention period customarily commences with the issuance date of a certificate of substantial completion.) The Member must publicly record an AHP subordinate lien against the property for a 15-year term (see AHP-113 through AHP-121).
