Reporting and Monitoring
All projects that receive AHP grants are subject to compliance monitoring. The monitoring guidelines are detailed in the AHP Implementation Plan.
- Satisfactory progress toward completion is being made
- Satisfactory progress toward occupancy is being made
- AHP subsidies were used for eligible purposes and whether the need for AHP subsidies still exists
- Household incomes and rents comply with the income targeting and rent commitments made in the application
- Actual costs were reasonable and necessary
- A project’s retention agreement meets the requirements of the AHP regulations
- Services and activities committed to in the application have been provided
- Annual certifications provided by owners
- Back-up project documentation regarding household incomes and rents maintained by the project owner
- Other project documentation as necessary
Applicable AHP grants are subject to deed restrictions. Owner-occupied projects where a household received AHP subsidy for a purchase or purchase in conjunction with rehabilitation are subject to deed restrictions for five years. If a home is sold or refinanced during the retention period, FHLB Dallas must be contacted to determine if any prorated prepayment of the grant is necessary.
Rental projects are subject to deed restrictions for 15 years. If any portion of the project is sold or refinanced during the retention period, FHLB Dallas must be contacted to determine if repayment of the full grant is necessary or if the deed restriction may be transferred to the new owner.
FHLB Dallas may cancel a project that does not demonstrate satisfactory progress toward meeting its designated completion date and recapture any AHP subsidy that FHLB Dallas previously disbursed to such project.
A project sponsor or a project owner shall repay FHLB Dallas or the member, as determined by FHLB Dallas, the amount of any AHP subsidy that, as a result of the project sponsor’s or project owner’s actions or omissions.
All grants must be used in compliance with the terms of the application for the subsidy, as approved by FHLB Dallas. If requirements of the AHP regulations or the requirements of the implementation plan are not met, the project sponsor or project owner must resolve the noncompliance within a reasonable period of time, or eliminate the circumstances of noncompliance through a modification of the terms of the application for the subsidy pursuant to Section 1291(f) of the AHP regulations.
Please refer to the AHP Implementation Plan in the Helpful Resources below for more details.