When can a primary sponsor begin to draw down committed AHP funds?
• • Once the FHLB-NY approves a project for an allocation of AHP funds, the FHLB-NY issues an AHP commitment package to the Member, which includes a tri-party AHP Subsidy Agreement and Memorandum of Understanding (AHP-109) which an authorized representative of the project’s primary sponsor must execute along with the Member. Once the FHLB-NY receives all necessary AHP commitment agreements, the primary sponsor may requisition the AHP funds by submitting all required forms and supporting documentation specified in the AHP Application Drawdown Package (AHP-122 through AHP-126).
