By offering support to a sponsor organization, a FHLB Des Moines member acts as a conduit of funds from the member to the sponsor. To support an application a member needs to:
- Identify at least one authorized AHP User in AHP Online. A member's eAdvantage User must follow this guide to complete this set-up process.
- Once a sponsor organization completes an AHP application during the application period, an email from FHLB Des Moines will advise the member to approve the application in AHP Online.
Guide for members
A FHLB Des Moines member will use the Member Disbursement Guide to approve disbursement requests from a project sponsor via AHP Online.
The member will receive an email from FHLB Des Moines advising when AHP funds are deposited into their DDA account.
The member will disburse AHP funds to the project sponsor.
Homeownership projects are on a reimbursement basis once each unit is completed or sold. Rental project disbursement may be made during the development process.
A FHLB Des Moines member must execute an AHP Subsidy Agreement, forward to the project sponsor for their signature and return the fully executed Agreement to FHLB Des Moines.
A Retention Agreement (Deed Restriction) is required for all rental projects, and for homeownership projects that include a home purchase. An FHLB Des Moines member must ensure that a Retention Agreement and legally enforceable and filed of record in the local jurisdiction. The FHLB Des Moines does not have a required lien position.