December 2023 Multifamily News from AHFA

2023 Applications Approved

for HOME, Housing Credit Funding

During its December 13 meeting, AHFA's Board of Directors approved a total of 16 applications from the 2023 competitive application cycle for funding.

The entire list of approved projects is available at https://www.ahfa.com/multifamily/allocation-application-information.

AHFA administers multifamily programs to create affordable rental housing by providing funding and tax incentives that help developers build or rehabilitate properties for Alabama’s low-income families.

Multifamily Application Workshop: Save the Date

The 2024 application workshop for HOME, Housing Credits, and HOME-ARP funding is tentatively planned for February 8, 2024. Please monitor your emails and the multifamily section of the AHFA website for further updates.

2024 is Almost Here: Check Out these Updates

for the New Year from AHFA's Compliance Department

AHFA is currently working on its guidance for changes due to the Housing Opportunities Through Modernization Act (HOTMA). Look for updates to some of the forms on AHFA.com in January and an amended version of AHFA’s Multifamily Compliance Manual with HOTMA revisions this spring.

Below are some reminders as we head into a new year of compliance reporting:

Check the accuracy of the tenant data entered into the AHFA Online Data Management System. Please pay close attention to the following items:
Move-in Date
Move-in Income
Recertification Date
Recertification Income
Tenant Paid Rent
Utility Amount
Make sure all tenant events from January 1, 2023, to December 31, 2023, have been entered before you finalize the year.
February 1, 2024, is the deadline to enter and finalize 2023 tenant data.
March 1, 2024, is the deadline to submit the Annual Owner Certification.
May 1, 2024, is the deadline to submit Form 8609 Schedule A.

Merry Christmas & Happy New Year from AHFA!

Our staff wishes you comfort, warmth, and good cheer as you enjoy your home and family throughout the holiday season. Thank you for helping us provide rental opportunities across Alabama! We look forward to working with you in 2024.

Holiday Office Closings

The AHFA offices will be closed on the following dates in observance of holidays:

Christmas: Friday, Dec. 22 & Monday, Dec. 25
New Year's Day: Monday, Jan. 1
King/Lee Day: Monday, Jan. 15

Alabama Housing Finance Authority | www.AHFA.com