2. FEDERAL HOME LOAN BANK OF NEW YORK © 2014 FEDERAL HOME LOAN BANK OF NEW YORK 101 PARK AVENUE NEW YORK, NY 10178 WWW.FHLBNY.COM Affordable Housing Program (“AHP”) 2014 Competitive Offering Overview of the Application Process

3. FEDERAL HOME LOAN BANK OF NEW YORK  2014 Competitive AHP Allocation: $22,072,379 AHP Application Overview  Submission Deadline: Friday, July 11 th  Applications and corresponding documentation must be submitted by USB Flash Drive  All applications must be submitted through a FHLB-NY stockholder institution, or Member  A list of Members is accessible on the FHLB-NY website at http://www.fhlbny.com/members/membership-list.aspx http://www.fhlbny.com/members/membership-list.aspx

4. FEDERAL HOME LOAN BANK OF NEW YORK  2014 AHP applicants must utilize an electronic application (AHP/APP-001) Application Submission Process  Review the Exhibit Cover Pages to provide corresponding information and documentation –Failure to include documentation related to eligibility or scoring may result in a reduction in score or a project’s elimination from the round

5. FEDERAL HOME LOAN BANK OF NEW YORK Minimum Eligibility Requirements  All application submissions must meet the Bank’s Minimum Eligibility Requirements  For more information regarding the AHP Minimum Eligibility Requirements, please review the 2014 AHP Implementation Plan http://www.fhlbny.com/forms/ahp_100.pdfhttp://www.fhlbny.com/forms/ahp_100.pdf

6. FEDERAL HOME LOAN BANK OF NEW YORK Scoring Phase  There are 9 scoring categories that total 100 points. 1.Donated Properties (5 points) 2.Not-for-Profit / Government Entity Sponsorship (10 points) 3.Targeting (20 points) 4.Homeless Housing (7 points) 5.Empowerment (5 points) 6.Community Stability (22 points) 7.First District Priority (6 points) 8.Second District Priority (20 points) 9.Subsidy Per Unit (5 points)

7. FEDERAL HOME LOAN BANK OF NEW YORK  The highest ranking eligible applications will be reviewed to confirm whether the project is financially feasible and consistent with the AHP Feasibility Guidelines Financial Feasibility Review  Provide detailed explanations if any items are outside of the AHP Financial Feasibility Analysis Guidelines (AHP-101)

8. FEDERAL HOME LOAN BANK OF NEW YORK  AHP funds are awarded to the highest ranking projects that demonstrate a need for AHP funds Project Approval  Round results will be announced by January 2015  Commitment agreements and Memorandums of Understanding will be distributed to approved projects after round results are announced  Once the allocation of AHP subsidy is depleted, the next four ranked projects are selected as alternates

9. FEDERAL HOME LOAN BANK OF NEW YORK  Review the following before completing your application: –AHP Implementation Plan (AHP-100) –AHP Feasibility Guidelines (AHP-101) –AHP Application Manual (AHP/APP-102) and (AHP/APP-106)  See detailed tutorials on our website for additional assistance with the following application package materials: –Application (AHP/APP-001) –Rental Project Workbook (AHP/APP-108) –Owner Project Worksheet (AHP/APP-104) –Cost Feasibility Tool (AHP/APP-109) Additional Application Assistance

10. FEDERAL HOME LOAN BANK OF NEW YORK 101 PARK AVENUE NEW YORK, NY 10178 WWW.FHLBNY.COM Advancing Housing and Community Growth The information provided by the Federal Home Loan Bank of New York (FHLBNY) in this communications is set forth for informational purposes only. The information should not be construed as an opinion, recommendation or solicitation regarding the use of any financial strategy and/or the purchase or sale of any financial instrument. All customers are advised to conduct their own independent due diligence before making any financial decisions. Please note that the past performance of any FHLBNY service or product should not be viewed as a guarantee of future results. Also, the information presented here and/or the services or products provided by the FHLBNY may change at any time without notice. Questions? Please e-mail us at ahp@fhlbny.comahp@fhlbny.com