Staff will conduct a final review of the project commitments and requirements. To document completion of the PC process, the project sponsor must submit a certification to support the following:
- Satisfactory progress has been made toward occupancy by eligible households,
- AHP subsidy was used for eligible purposes according to the commitments made in the AHP Agreement,
- Household incomes comply with the income targeting commitments made in the AHP Agreement,
- Project’s actual costs were reasonable in accordance with FHLBank’s Project Cost Guidelines,
- AHP subsidy was necessary for project completion as currently structured,
- Commitments in the AHP Agreement have been provided in connection with the project,
- Each AHP-assisted unit is subject to AHP retention agreement as required by Regulations.
FHLBank will notify the project member and sponsor of receipt of the certification which completes the PCR process.