Ineligible Uses of AHP Funds

Outlined below are ineligible uses of AHP funds for rental and homeownership projects.

Projects that are substantially (greater than 50% construction or rehabilitation) completed prior to award date
Non-housing space such as commercial space, leasing office, program/service space and units above 80% of AMI
Support services including support staff
Refinance or revolving loan funds
Inpatient drug and alcohol treatment centers, nursing homes, skilled nursing and medical care facilities
Pre-payment fees imposed by FHLB Des Moines on a member institution for a subsidized advance that is prepaid (subject to certain exceptions noted in the AHP Implementation Plan)
Cancellation fees and penalties imposed by FHLB Des Moines on a member institution for a subsidized advance commitment that is cancelled
Processing fees charged by members for providing AHP subsidies to a project
Capitalized reserves
Periodic deposit to reserve accounts
Operating expenses

Projects that are substantially (greater than 50% construction or rehabilitation) completed prior to award date
Refinance or revolving loan funds
Pre-payment fees imposed by FHLB Des Moines on a member institution for a subsidized advance that is prepaid (subject to certain exceptions noted in the AHP Implementation Plan)
Cancellation fees and penalties imposed by FHLB Des Moines on a member institution for a subsidized advance commitment that is cancelled
Processing fees charged by members for providing AHP subsidies to a project