December 2020
Compliance Reminders + News
Reminder
As we have been reviewing the tenant data entered into DMS, we have found multiple tenant event issues such as missing tenant events and incomplete tenant events when reviewing tenant data entered into DMS.

  • Please review each property’s tenant data to confirm there are no missing tenant events (move in, move out, etc.) and that each cell has an entry. 
  • The tenant data for each effective year can be reviewed by clicking “Export Events” on the Property Details screen.
  • If you need to see tenant data from a previous year check the box beside “Show All Owner Certificates.”

New Announcements
  • Tenant Event Data in AHFA DMS must be completed through December 31, 2020, by February 1, 2021.

  • The Annual Owner’s Certification must be submitted to the compliance department by March 1, 2021.

  • AHFA’s compliance department will be requesting audit information this month for desk audits to be conducted in January 2021.
11 Application/Development Tips for Success
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A new tip has been added this year, as well as some updates to the tried-and-true tips:

  1. READ, READ, and then READ AGAIN: The Plans, the Addenda, the Definitions, the Application Forms and Application Instructions. Submit Comments and questions - during AHFA designated timeframes.
  2. Check your email and AHFA’s website for updates: AHFA will send Multifamily Notices with critical information about the application process. These notices will then be posted on our website.
  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.
Alabama Housing Finance Authority | www.AHFA.com