April 2019
8 Helpful Tips for HOME Loan Closings
AHFA's Multifamily Division has compiled a list of tips for HOME Loan Closings:

  1. The person designated in the Project Application as the Project Contact is the single point of contact to whom all closing correspondence will be directed. Any changes to this contact are the responsibility of the Responsible Owner.
  2. Submit the Certificate of Occupancy to us upon receipt. This document is critical in closing preparations and is the first document that should be submitted to AHFA.
  3. Make note of the HOME Closing Deadline in the HOME Written Agreement. The closing deadline is an important date which should be met. If unforeseen delays in construction occur, an extension request (detailing delays and additional time requested) should be submitted to us as soon as possible. Not all extension requests may be granted as hard deadlines are tied to HOME funding which, if not met, can result in the loss of funding.
  4. A Closing Checklist and AHFA Closing Document Template will be made available to the Project Contact. Collect and prepare the required documents prior to closing as soon as they become available. These documents should be submitted to us (in hard copy and digital format) together, at one time. All documentation must be received before a tentative closing date is discussed.
  5. Execute signatures on AHFA Certifications just prior to sending document package to AHFA. All certifications must be original and should be dated as close to the closing as possible.
  6. A final Rent Roll (in AHFA format) must be brought to closing. It will be certified at closing.
  7. AHFA staff may only notarize AHFA documents.
  8. Disbursement of HOME funds will only occur after our legal counsel receives confirmation that the closing documents have been recorded. 
Nominations Now Being Accepted for 2019 Manager of the Year award
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 26 . The 2019 winner will be announced at the Alabama Affordable Housing Association's annual conference. Click here for a nomination package:  http://bit.ly/2ixrGOY.
News & Events Request: Help Us Promote Your Work
Your work provides a valuable platform to showcase developments and illustrate the relevance of programs that make affordable housing possible in Alabama.
Keep us up-to-date on the latest in affordable housing in Alabama, and we'll share your news and events in our newsletter, on our website and Facebook page, and in various other publications and marketing materials*.

We just need story "leads." There's no need to take a lot of time gathering and writing up information - we'll do that. We just need to hear about information we can share to showcase your work!

News & Events We Want To Know About:
  • Innovative initiatives
  • Signature projects
  • Resident testimonials
  • Professional achievements/awards
  • Special collaborations
  • Tours
  • Congressional delegation visits
  • Groundbreakings
  • Ribbon cuttings

Email us back at  communications@ahfa.com  with your news and events. We look forward to hearing from you!

* Please be aware that we will not be able to use every submission as we seek to provide diversity in terms of geographic areas, ethnicity, development groups, etc. However, we will keep all submissions in a "Story Bank" for possible use in future advocacy efforts. We reserve the right to exclude any submission for which the project/development team has issues of non-compliance.
Alabama Housing Finance Authority | www.AHFA.com