AHP

Mission First Housing Group Recognized by Federal Home Loan Banks for Passing $15 Million Milestone

Retrieved on: 
Friday, October 13, 2023
Congress, Partnership, Veteran, Acquisition, Organization, Insurance, Federal Home Loan Banks, Mid-Atlantic (United States), Economic development, Congressional Award, Rehabilitation, Mission, Survivor, Domestic violence, Parkside, Bank, AHP, Housing, Management, Drug

PHILADELPHIA, Oct. 12, 2023 /PRNewswire/ -- In 1999, Mission First Housing Group ("Mission First") was awarded its first Affordable Housing Program ("AHP") grant from a Federal Home Loan Bank ("FHLBank") – receiving a $465,000 grant from FHLBank Atlanta to help build 78 affordable apartments in the Fox Chase neighborhood in Northeast Philadelphia. In the nearly 25 years since, Mission First has established additional partnerships with FHLBanks of New York, Pittsburgh and San Francisco, working with the cooperative wholesale banks' member financial institutions to successfully apply for more than $15 million in AHP grants that have been put to work creating and preserving safe, sustainable and affordable homes in Pennsylvania, New Jersey and Maryland. 

Key Points: 
  • "Since its implementation in 1990, AHP has grown to become a large and reliable source of grant funds for affordable housing.
  • Each FHLBank funds its AHP directly from earnings and housing developers across the country have access to AHP in all economic cycles.
  • Mission First Housing Group develops and manages affordable, equitable, safe, sustainable homes that support residents and strengthen communities.
  • It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks.

HealthLynked Receives Medicare Shared Savings Net Proceeds from Sale of ACO Health Partners

Retrieved on: 
Monday, October 9, 2023
OTCQB, CMS, Medicare, PBA, Centers for Medicare & Medicaid Services, AHP, Physician, Sale, Pharmaceutical industry

NAPLES, Fla., Oct. 9, 2023 /PRNewswire/ -- HealthLynked Corp. (OTCQB: HLYK), a leader in the global healthcare network industry, is pleased to announce the receipt of Medicare Shared Savings ("Shared Savings") from the Centers for Medicare & Medicaid Services ("CMS") earned by ACO Health Partners ("AHP") for performance year 2022. The Shared Savings net proceeds are a component of the consideration received by HealthLynked from its January 2023 sale of AHP. Shared Savings earned by AHP was $2.88 million and net proceeds to HealthLynked were $1.15 million, including allocation for AHP's operating expenses and after payments to AHP's participating physicians, commission to former owners, and other expenses. 

Key Points: 
  • NAPLES, Fla., Oct. 9, 2023 /PRNewswire/ -- HealthLynked Corp. (OTCQB: HLYK ), a leader in the global healthcare network industry, is pleased to announce the receipt of Medicare Shared Savings ("Shared Savings") from the Centers for Medicare & Medicaid Services ("CMS") earned by ACO Health Partners ("AHP") for performance year 2022.
  • The Shared Savings net proceeds are a component of the consideration received by HealthLynked from its January 2023 sale of AHP.
  • Shared Savings earned by AHP was $2.88 million and net proceeds to HealthLynked were $1.15 million, including allocation for AHP's operating expenses and after payments to AHP's participating physicians, commission to former owners, and other expenses.
  • George O'Leary, HealthLynked's Chief Financial Officer, commented, "We are pleased with the final determination of AHP's Shared Savings for performance year 2022, which was higher than we had anticipated.

Texas State Affordable Housing Corporation Awards $23.5 Million in Private Activity Bonds to Foundation Communities to Finance Juniper Creek Apartments

Retrieved on: 
Thursday, September 7, 2023
Federal Home Loan Banks, Texas Department of Housing and Community Affairs, Housing, Homelessness, AHP, Pflugerville, Texas, The Learning Center for the Deaf, Child care, Risk, Texas State Affordable Housing Corporation, Pflugerville Independent School District, Wells Fargo, Private, Property management, Tourism, Central Texas

Austin, TX, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The Texas State Affordable Housing Corporation (TSAHC) has awarded $23.5 million in Private Activity Bonds to Foundation Communities to provide capital for the construction and development of Juniper Creek apartments.

Key Points: 
  • Austin, TX, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The Texas State Affordable Housing Corporation (TSAHC) has awarded $23.5 million in Private Activity Bonds to Foundation Communities to provide capital for the construction and development of Juniper Creek apartments.
  • When complete, Juniper Creek will create 110 units of affordable rental housing targeted for low-income households.
  • Juniper Creek was also awarded $15.4 million in housing tax credit equity from the Texas Department of Housing and Community Affairs and a $750,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas.
  • “We are incredibly grateful to TSAHC for their financial support to make our dream of building Juniper Creek Apartments,” said Foundation Communities executive director Walter Moreau.

Specialty Care Management Welcomes Steve Hynes to its Board of Directors

Retrieved on: 
Tuesday, September 12, 2023
Information technology, Culture, AHP, Dialysis, EBITDA, Risk, Growth, Entrepreneurship, SCM, MRO, Management

LAHASKA, Pa. and WAYNE, Pa., Sept. 12, 2023 /PRNewswire/ -- Specialty Care Management ("SCM" or the "Company") is pleased to announce that Steve Hynes has joined its Board of Directors.

Key Points: 
  • LAHASKA, Pa. and WAYNE, Pa., Sept. 12, 2023 /PRNewswire/ -- Specialty Care Management ("SCM" or the "Company") is pleased to announce that Steve Hynes has joined its Board of Directors.
  • Steve was previously Co-Founder and CEO of MRO Corp. ("MRO"), a technology enabled healthcare services company headquartered in Norristown, Pennsylvania.
  • "We are excited to welcome Steve to our board," said Craig Clemente, CEO at Specialty Care Management.
  • Specialty Care Management is a payor services company focused on healthcare cost containment and claims management services for the self-insured market.

HealthLynked Achieves Key Milestone with Final $300,000 Payment from Sale of ACO Health Partners

Retrieved on: 
Tuesday, September 5, 2023
IPO, Partnership, AHP, Sale, Medicare, EBITDA, PBA, Security (finance)

NAPLES, Fla., Sept. 5, 2023 /PRNewswire/ -- HealthLynked Corp. (HLYK), a leader in the global healthcare network industry, is pleased to announce the successful completion of cash targets to date related to its January 2023 sale of ACO Health Partners ("AHP"). The company received a $300,000 payment, marking a 100% success rate in enrolling existing and new physician practices into Palm Beach Accountable Care Organization ("PBACO"), managed by PBACO Holding, LLC ("PBA").

Key Points: 
  • Since the sale of AHP, HealthLynked has received a total of $3.25 million, comprised of an initial $750,000 from the sale and an additional $2.5 million in participation-based consideration.
  • The payments represent the maximum amount of cash consideration to date that HealthLynked was eligible to receive under the sale agreement.
  • In line with the sale agreement, HealthLynked is set to receive net proceeds, including allocation of expenses, from Medicare Shared Savings attributed to AHP's performance in 2022.
  • Should PBA go public, HealthLynked will receive shares corresponding to AHP's 2021 earnings, times the EBITDA multiple used to value PBA's IPO shares.

Blue Cross and Blue Shield of Minnesota accesses grant funding for first-time home buyers in partnership with Twin Cities Habitat for Humanity

Retrieved on: 
Thursday, August 31, 2023
Insurance, Federal Home Loan Banks, FHLB, Native, Health equity, AHP, Rehabilitation, Treasury, Blue Shield, Housing, Humanity, Blue Cross, Health, Mental health, SAINT, Minneapolis–Saint Paul, Health insurance, Bank

EAGAN, Minn. and SAINT PAUL, Minn., Aug. 31, 2023 /PRNewswire/ -- Blue Cross and Blue Shield of Minnesota (Blue Cross) today announced it has access to $160,000 in Affordable Housing Program (AHP) funds through its membership with the Federal Home Loan Bank (FHLB) of Des Moines. Blue Cross has entered into an agreement with Twin Cities Habitat for Humanity to have the charitable non-profit serve as underwriter and administrator for the grants, which will be available to qualifying first-time home buyers in Minnesota. Eligible households can receive a grant of up to $5,000 in down payment and closing cost assistance. 

Key Points: 
  • Blue Cross has entered into an agreement with Twin Cities Habitat for Humanity to have the charitable non-profit serve as underwriter and administrator for the grants, which will be available to qualifying first-time home buyers in Minnesota.
  • As a result of structuring this unique collaboration with Twin Cities Habitat for Humanity, Blue Cross has become the first health insurance member of FHLB of Des Moines to access AHP funds.
  • The opportunity to build upon our collaboration with Twin Cities Habitat for Humanity and provide additional resources for first-time home buyers is a privilege.
  • More information about Blue Cross and Blue Shield of Minnesota, including the health plan's commitment to racial and health equity, can be found at bluecrossmn.com/about-us/corporate-social-responsibility.

Flushing Bank Proudly Announces It Has Successfully Secured Two Grants From The Federal Home Loan Bank of New York’s Affordable Home Program

Retrieved on: 
Tuesday, August 29, 2023
Town, Housing, First National Financial Corporation, AHP, Federal Home Loan Banks, Hempstead House, Laurel Homes Historic District, Flushing, Building

UNIONDALE, N.Y., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that it has successfully secured two grants from the Federal Home Loan Bank of New York through its Affordable Housing Program (AHP).

Key Points: 
  • UNIONDALE, N.Y., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that it has successfully secured two grants from the Federal Home Loan Bank of New York through its Affordable Housing Program (AHP).
  • John R. Buran, President and CEO of Flushing Bank, stated: “We have been supporting affordable housing opportunities through a variety of lending programs for many years.
  • To date, with the addition of these two grants, we have sponsored $7.37 million dollars covering 497 affordable housing units through this program alone.
  • We appreciate the support provided by the Federal Home Loan Bank of New York that helps make affordable housing available to senior citizens and other underserved members of the community.

Federal Home Loan Bank of San Francisco and Congresswoman Sydney Kamlager-Dove Celebrate Grand Opening of Critically-Needed Affordable Senior Apartments in Los Angeles

Retrieved on: 
Monday, August 28, 2023
View series, Clearing house, Partnership, Housing, Social, Citizens Business Bank, AHP, Rehabilitation, Dementia, Federal Home Loan Banks, CA-37, Congress, Pierce Brothers Westwood Village Memorial Park and Mortuary, Fort View Apartments, Case management, LA, Bank, Film industry, Tourism, Airline, Congressional district

LOS ANGELES, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and Congresswoman Sydney Kamlager-Dove (CA-37) today celebrated the grand opening of Washington View Apartments in Los Angeles, which provides 122 newly built residences for senior citizens, with 91 units reserved for formerly unhoused residents.

Key Points: 
  • LOS ANGELES, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and Congresswoman Sydney Kamlager-Dove (CA-37) today celebrated the grand opening of Washington View Apartments in Los Angeles, which provides 122 newly built residences for senior citizens, with 91 units reserved for formerly unhoused residents.
  • To support the project and bring it to life, FHLBank San Francisco awarded a $1 million Affordable Housing Program (AHP) grant in 2022.
  • We also want to thank Congresswoman Kamlager-Dove for her commitment and focus on developing solutions to address the lack of affordable housing in Los Angeles.
  • “I was glad to join in celebrating the grand opening of the Washington View Apartments with FHLBank San Francisco officials, local officials, and affordable housing advocates,” said Congresswoman Kamlager-Dove.

FEDERAL HOME LOAN BANK OF NEW YORK AWARDS $42 MILLION FOR 42 AFFORDABLE HOUSING INITIATIVES

Retrieved on: 
Tuesday, August 22, 2023
Federal Home Loan Banks, Uncertainty, Partnership, Housing, Congressional Award, Risk, AHP, Rehabilitation, Waldwick, Projection, Organization, Congress, Investment, Nature, Bank, Airline

NEW YORK, Aug. 22, 2023 /PRNewswire/ -- José R. González, president and CEO of the Federal Home Loan Bank of New York ("FHLBNY"), announced that the FHLBNY has awarded $41.98 million in subsidies to fund 42 affordable housing initiatives throughout New Jersey, New York, Puerto Rico, the U.S. Virgin Islands, California, Connecticut, Florida, Pennsylvania and Texas. These awards are funded through the FHLBNY's Affordable Housing Program ("AHP"), and will result in the creation, rehabilitation or preservation of 2,693 units, including 1,945 units dedicated to very low-income housing. The awards will not only help provide housing, but also drive community development: it is anticipated that more than $1.29 billion in housing investments will result from the development of these initiatives.

Key Points: 
  • These awards are funded through the FHLBNY's Affordable Housing Program ("AHP"), and will result in the creation, rehabilitation or preservation of 2,693 units, including 1,945 units dedicated to very low-income housing.
  • As mandated by Congress, the FHLBNY forgoes 10 percent of its earnings each year to support these neighborhood housing and economic development initiatives.
  • The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank.
  • It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks.

Federal Home Loan Bank of Atlanta Awards More than $20 Million for Affordable Housing Development

Retrieved on: 
Thursday, August 17, 2023
Federal Home Loan Banks, AHP, Bank, Housing, Accounting, Rehabilitation, Acquisition, Real estate

ATLANTA, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta or the Bank) today announced its 2023 Affordable Housing Program (AHP) General Fund awards.

Key Points: 
  • ATLANTA, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta or the Bank) today announced its 2023 Affordable Housing Program (AHP) General Fund awards.
  • In total, 28 affordable housing initiatives in 10 states and Washington D.C. will receive $20,023,614 in AHP direct subsidy.
  • The funding represents over $471 million in total housing development and will be distributed through FHLBank Atlanta member financial institutions to assist in the acquisition, new construction, rehabilitation, or preservation of 1,135 affordable rental and homeownership units.
  • Since 1990, the Bank has awarded more than $866.3 million in General Fund grants, providing more than 134,000 housing opportunities for moderate-, low-, and very low-income households.