AHFA Accepts Competitive Applications in Early February

AHFA accepted applications for 2018 Housing Credits, 2018 HOME Investment Partnership Program funds, and 2016/2017 National Housing Trust Fund Program funds on February 1. A total of 41 applications were received. To view a list of the applications submitted in this year's competitive cycle, visit  http://bit.ly/2miRlc9 .

Continue to watch for news and updates relating to the 2018 competitive cycle here and at www.AHFA.com.
HHA Success Story: Rhonda Gay, Dothan

Rhonda Gay was already struggling financially when she lost her job. The Dothan grandmother reached out to Hardest Hit Alabama to help her keep her home. Watch the video below to hear Rhonda share her story.

HHA offers programs including mortgage payment assistance for unemployed or underemployed homeowners, as well as loan modification and short sale options for borrowers facing financial hardships.  For more information, visit  www.HardestHitAlabama.com.

Development Spotlight: Raintree Apartments, Rainsville

Development Info:
24 units, built in 1989 and rehabilitated in 2015
Serves: families and elderly in DeKalb County
AHFA funding sources: $162,521 in 2015 Housing Credits | $33,702 in 1989 Housing Credits

Amenities/Tenant Services:
The development serves low- and very low-income tenants across a range of ages. Children under 18 years old make up about 30 percent of occupancy and adults 55 years or older make up about 20 percent. Over half of Raintree's units have USDA RD Rental assistance or tenant-based Section 8 vouchers.

Revitalization of Aging Housing Stock:
Raintree is an acquisition/rehabilitation of a prior-funded (1989) Housing Credit development. Development team member Mark English, president and board chairman of National Affordable Housing Preservation Associates (NAHPA), said, " We have breathed new life into the development so that it can continue in its 30-year career of serving low-income tenants in the rural Alabama town of Rainsville."

Item of Interest: 
The ownership structure of Raintree is a joint venture between nonprofits (NAHPA) and for-profits (RTRC 2015 AL, LLC, represented by Lowell R. Barron, and Westside, LLC, represented by Charles S. Stirling).

English said of the joint venture experience, "From my perspective, joint venturing with for-profit companies causes few to no challenges. At the end of the day, such a partnership ends up as a win-win-win situation. NAHPA is fulfilling its mission while earning money so we can keep fulfilling our mission, our for-profit partners are making money by helping to produce housing, and tenants have safe, decent, affordable, accessible, attractive, well-located housing that they can afford."

For more of Raintree's Development Spotlight, visit http://bit.ly/2FBSDJo.
Success Story: Shiloh, Opelika

Shiloh is a newly constructed development for elderly residents in Opelika that opened in November 2017. In 2015, Shiloh was awarded $765,692 in Housing Credits and $1.2 million in HOME funds, both administered by AHFA.

Residents Michael Lovelace and Sherry Shaw share how they came to live at Shiloh and what they're enjoying most about living in this new development:

Upcoming AHFA Outreach & Education Opportunities

AHFA will be hosting or speaking at the following events in March:
Lenders & Realtors: Share Your Client Photos with AHFA

Do you take pictures with clients who you've helped purchase a home? If they used an AHFA program to buy (Step Up program and/or Mortgage Credit Certificate), send your photo to us, and we'll promote it across all of our social media channels!
Next time you snap a pic with an AHFA customer, you can either:
We'll boost the posts to increase impressions and let more Alabamians know you can help making homebuying more affordable by introducing them to AHFA!

2018 Manager of the Year Nominations Due April 27

Give your top managers the recognition they deserve by nominating them for AHFA's annual Manager of the Year award.  Site and property managers for any development financed with AHFA-administered HOME funds or Housing Credits are eligible.

Nominations are due  April 27. The 2018 winner will be announced at  the Alabama Affordable Housing Association's annual conference. 
Click here for a nomination package:  http://bit.ly/2ixrGOY
ServiSolutions' Pay-By-Phone Option is Quick and Convenient for Customers

ServiSolutions customers can make a payment with no wait using our pay-by-phone option for a fee of $4 per transaction. Have your loan number, routing number, and checking or savings account number available. Then call 866.339.2432 (855.819.8081 in WA) and select option 1 for this service that is available 24-7, 365 with no wait.
Alabama Housing Finance Authority | Montgomery, Alabama | 334.244.9200 | Email | Website