October 2018
AHFA Mourns Death of Former Board Member B. Edgar Edwards
Former AHFA Board member and long-time supporter of affordable housing efforts, Benjamin Edgar Edwards, passed away September 28. Edwards enjoyed a long career in the financial services industry with positions in savings and loan, brokerage, and banking institutions.

An advocate for affordable housing efforts, Edwards was an original member of AHFA's Board of Directors and served as both chairman and vice chairman during his tenure from 1980-1987.

The Board and staff of AHFA extend sincere sympathies to the family of B. Edgar Edwards and express gratitude for his faithful service and valuable friendship.
Development Spotlight: Highland Manor, Birmingham

Development Info:
Located in the heart of Southside in downtown Birmingham, Highland Manor has 111 one- and two-bedroom units. Originally built as a hotel in 1962, it was renovated in 2016-2018 to become affordable housing.

Serves: Seniors 62 and older and those who are mobility-impaired

AHFA funding sources: $950,138 in Housing Credits (2015)

Amenities/Tenant Services:
During the renovation, “The entire 16th floor was designed to get seniors up and out,” said Tina Pamphilis, director of marketing for SPM Property Management. “We wanted to revitalize an underutilized part of the building. The amenities of the top floor are now among the most enjoyed by our residents.” These amenities include a large community room with a kitchen and floor-to-ceiling windows for events and activities, state-of-the-art fitness center, game room with HDTV, library, and computer center.

In addition, “The views from the 16th floor at Highland Manor also make this development special,” said Pamphilis. “Whether you’re looking north toward Birmingham’s city center skyline or to the south toward Red Mountain, the views are amazing.”

The renovation project also included the apartment interiors. Each home received new kitchen cabinets, appliances, flooring and fixtures. There is also a “man cave” with a billiard table, laundry room, and an arts and craft room on the basement floor. Additional improvements to the building included new roofing, paint, windows, updated elevators, a landmark gazebo, and new landscaping. Residents also have the option of sitting outside along the expansive patio wrapped around the building, and a covered bus stop was added just steps from the Highland Manor entrance.

Several Highland Manor residents shared their thoughts about the renovations: https://vimeo.com/267625941 .
Welcome, Direct Mortgage Loans!
AHFA is pleased to welcome  Direct Mortgage Loans LLC  as a participating lender in the Step Up program.

Direct Mortgage Loans is conveniently located in Mobile to serve potential homebuyers. For more information, visit  https://directmortgageloans.mymortgage-online.com/index.html .
Top 10 Tips for Application & Development Success

AHFA's Multifamily Division has compiled a list of tips to assist developers of affordable housing with their applications and developments.

  1. READ, READ, and then READ AGAIN: The Plans, the Addenda, the Definitions, the Application Forms and Application Instructions. Submit questions and communicate problems. 
  2. Check Your Email and AHFA’s Website for Updates: AHFA will send Multifamily Notices with critical information about the application process. These Multifamily Notices will then be posted on www.ahfa.com
  3. Secure Proposed Property with A Renewable Option to Purchase: Renewable Options allow you the flexibility needed because of the varying lengths of the approval process.  
  4. Engage Your Environmental Professional Early: Provide your environmental professional with a copy of AHFA’s Environmental Policy Requirements.
  5. Check the Property Zoning for the Proposed Property: Make sure the property is zoned for the proposed use. Review the applicable zoning ordinance(s) and provide the zoning requirements for the proposed project. 
  6. Check for Property Deed Restrictions: These may include Easements or Restrictive Covenants. Obtain approvals from the entity(ies) holding any restriction(s) on the proposed property prior to submitting your application.
  7. Register in DMS Authority Online Early: Development team members can complete the registration process at any time in DMS (make sure to obtain and retain the Organization Code for each team member). Once your team is registered, you can affiliate your team members (using the Organization Codes) with your project application when the Application Cycle opens. 
  8. Keep Ownership Entities Manageable: A large ownership structure creates additional opportunity for errors and may add additional costs to the application. 
  9. Review the Application for Missing Information or Inconsistencies: Missing or incorrect information may result in additional fees or penalties. 
  10. Ensure Prior-Funded Multifamily Properties Stay in Compliance: Penalty points for noncompliance may be assessed to your application.  

*This list is not intended to be all-inclusive.
Lender Training Opportunities Available in November
AHFA will host a Step Up & MCC Reservation Process lender training webinar on November 6. Click here to register for this training on November 6.

This training, as well as a Closed File Paperless Submission Process training, is also available as a video.

We anticipate additional trainings will be available on video in the near future. Please visit our Training Resources pages in the Lender sections of AHFA.com and ServSol.com for updates.
AHFA Offices to Close for November Holidays

AHFA, ServiSolutions, and Hardest Hit Alabama will be closed Monday, November 12 in observance of the Veterans' Day holiday, and Thursday, November 22 and Friday November 23 for the Thanksgiving holiday. Please make a note of these dates.

Single-Family Participating Lenders: AHFA will have one loan funding during weeks with holidays. In November, those will be Friday, November 16 (Veterans' Day) and Wednesday, November 21 (Thanksgiving).
Alabama Housing Finance Authority | Montgomery, Alabama | 334.244.9200 | Email | Website