Long-term Monitoring

Retaining your award.

Once you receive your FHLBank Indianapolis Affordable Housing Program grant award, you must keep FHLBank Indianapolis up to date with semi-annual reports and be prepared for on-site monitoring during the pre-determined retention period.

  • Retention period for a homeownership project is five (5) years from the project’s completion date. 
  • Retention period for a Rental project is fifteen (15) years from the date the last unit is certified for occupancy or the full disbursement of AHP award whichever occurs last. 

Full repayment of the grant may be required through the 15th year should a non-compliance matter pursuant to the terms of the AHP Agreement not be cured. Project completion is defined as the date (whichever occurs last) that (i) the last homeownership unit in the project closed, (ii) the last unit is rehabilitated, or (iii) the final AHP subsidy is disbursed. 

Long-term Monitoring