May 2019
AHFA Announces 2019 Multifamily Housing Development Awards
On May 30, AHFA announced that 19 multifamily housing developments were selected by its board of directors to receive allocations of 2019 HOME Investment Partnerships and/or Low-Income Housing Tax Credits.

Of the approved applications, 13 are for new construction developments and six are for the acquisition/rehabilitation of existing housing stock. A total of 1,119 housing units are expected to be built or renovated.

For a listing of funding approvals, visit
Multifamily Division to Hold Public Hearing on 2020 Draft Plans
AHFA will conduct a public hearing concerning proposed 2020 program plans: the HOME Investment Partnerships Program Action Plan, the Housing Credit Qualified Allocation Plan, and the National Housing Trust Fund Allocation Plan. The public hearing is set for Thursday, June 27 at 10 a.m. at the Hampton Inn & Suites Eastchase in Montgomery.

Interested parties are invited to submit written or oral comments at the public hearing regarding the allocation of HOME funds, Housing Credits, and National Housing Trust Funds in exchange for the new construction and substantial rehabilitation of low-income projects and for the monitoring of HOME, Housing Credits, and National Housing Trust Funds for all projects. Additional written comments will be accepted until 5 p.m. on July 29.

For more information, visit
AAHA Annual Conference: Manager of the Year & Scholarship Recipients Announced
Tony Petersen of Olympia Management, Inc., manager of Annie Lee Gardens in Arab, was announced as AHFA's 2019 Manager of the Year during the 2019 annual conference of the Alabama Affordable Housing Association (AAHA).

The Manager of the Year award recognizes outstanding management staff at AHFA-funded multifamily housing developments. Nominees are evaluated on tenant relations, management experience, and education as well as the complex's curb appeal and AHFA program compliance.

Other nominees were:

  • Janae Bryant / Gateway Management, LLC
  • Kathy Bryant / Hollyhand Companies, Inc.
  • Dora Cooley / Olympia Management, Inc.
  • Gail Harris / Olympia Management, Inc.
  • Roshanda Hunt / Gateway Management, LLC
  • Stephanie Jones / Olympia Management, Inc.
  • Monique Miller / Morrow Realty Company, Inc.
  • Susan Moncrief / Gateway Management, LLC
  • Cindy Taylor / Olympia Management, Inc.
  • Mary Eva Upshaw / Sunbelt Management Company

Watch for more information on Petersen in an upcoming Success Story.

Also at the conference, AAHA announced this year's academic scholarship recipients. Sixty-four academic scholarships were awarded for 2019; 43 were renewals to past scholarship recipients and 21 went to new applicants.

The scholarship program is open to eligible tenants and resident family members living at an AAHA-member apartment complex and to property/divisional management staff of AAHA-member companies and their children. Applicants must be accepted or enrolled in an accredited vocational or technical school, college or university; have at least a "B" average or 3.0 GPA; and meet all other application criteria.
Realtor Spotlight: Karen Borden, Legend Realty, Huntsville
Karen Borden joined Legend Realty in November 2018 and has more than 14 years’ experience in the real estate business. Borden’s list of accreditations and memberships is extensive, as is her list of production and customer service awards. She is also known as one of the most pet-friendly Realtors in the area.

Q: How long have you been promoting AHFA’s programs?
A: About five years ago after I heard about them through one of AHFA’s participating lenders.

Q: What do you think is the biggest benefit of Step Up?
A: The fact that buyers with good credit but no down payment can purchase a home.

Q: What do you enjoy most about your job?
A: Helping buyers find their dream home and seeing their happy and excited faces at closing. I also enjoy helping sellers sell their home for the highest and best price and seeing the joy and relief on their faces at closing.

Q: What do you think makes you stand out from other Realtors?
A: My ability to put my clients’ interests first and the ability to negotiate the best possible deal for them. I also help my clients with whatever they need after the closing. My relationship doesn’t end when we leave the closing table. I stay in touch with all my clients on a regular basis.
Grand Opening & Ribbon Cutting Held for Arbours at Demopolis in May
A grand opening and ribbon cutting was held May 8 for Arbours at Demopolis. The newly renovated development targets area families and was financed in part with $650,000 in Low-Income Housing Tax Credits administered by AHFA.

Outreach & Education in May
This month, AHFA visited lenders in the Mobile area to present the benefits of our homebuyer programs and how to utilize them. Our Step Up down payment assistance program and Mortgage Credit Certificate program help make homebuying more affordable and help more people qualify to buy a home.

Thank you to Caliber Home Loans, Community Bank of Mississippi, Embrace Home Loans, Envoy Mortgage, First Federal, Home Mortgage of America, and Trustmark!

Are you a mortgage professional or Realtor and want to know more about AHFA programs? AHFA offers on-site training on our programs to cover borrower and property eligibility, processing, documentation, income calculations and more. Contact Cathy James at to schedule a date and time!
CCN will be unavailable on Sunday, June 16
ServiSolutions' online account service, Customer CareNet (CCN) will be temporarily unavailable from 5-8 a.m. CT on Sunday, June 16. Our vendor will be making updates to and/or conducting testing on the system.
AHFA Offices to Close for July Holiday
The AHFA, ServiSolutions, and Hardest Hit Alabama offices will be closed Thursday, July 4 in observance of the Independence Day holiday.

We will reopen at 8 a.m. on Friday, July 5.
Alabama Housing Finance Authority | Montgomery, Alabama | 334.244.9200 | Email | Website