Severe Storms in Nebraska and Oklahoma (Disasters)

last updated on Friday, June 28, 2024 in Community News

The Division of Federal Home Loan Bank Regulation of the Federal Housing Finance Agency (FHFA) is issuing this Non-Objection Letter to allow vacant AHP-assisted rental units to be leased temporarily to individuals/households, regardless of their income, who are displaced because of the above-referenced Disasters, as provided below.

Temporary suspensions of household income limits for AHP-assisted rental projects subject to the following conditions:

• The displaced individual/household must have resided in a county designated for Individual Assistance by the Federal Emergency Management Agency or other government designated areas as a result of the Disasters (“eligible disaster area”);
  • FEMA-4776-DR, declared April 30, 2024;
  • FEMA-4778-NE, declared May 3, 2024;
  • FEMA 4786-NE, declared May 24, 2024
• The project owner or project sponsor, as the case may be, must obtain written approval from the Federal Home Loan Bank (Bank) that approved the project of the temporary suspension of household income limits for the project, which approval shall be within the sole discretion of the Bank;
• The time period for suspension of household income limits shall not extend beyond December 31, 2025;
• Project owners or project sponsors, as the case may be, must maintain and certify certain information, including the name and former address of each displaced individual/household, and a statement, signed under penalty of perjury by the displaced individual/head of household, that the individual/household requires temporary housing because of damage to the individual's/household's home in an eligible disaster area;
• Project owners or project sponsors, as the case may be, must maintain documentation of the date the individual/household began temporary occupancy of the AHP unit and the date the occupancy ends;
• Rents charged must not exceed the existing AHP rents for the units, except as permitted under other federal agency declarations for housing assistance for individuals/households displaced by the Disasters; and
• Existing AHP-eligible tenants may not be evicted or otherwise have their tenancy terminated because of efforts to provide temporary housing for displaced individuals/households.

Please contact Community Investment at communityinvestment@fhlbdm.com or 800.544.3452, ext. 2400 with any questions you may have.

1. Affordable Housing Program