October 2022 Multifamily News from AHFA

AHFA Multifamily Housekeeping: Time to Tidy Up

If your organization is like ours, you have experienced many changes over the past year. Many of these changes happened quickly, and perhaps while working remotely. As a result, it's time to make sure that many fine points commonly addressed have not been overlooked. The changing of the season, and for many, the fiscal year, is a great time to get your house in order.


If any of the following situations pertain to your organization or developments, please use the tools, links, and steps provided below to tidy things a bit.


  • Office Address Changes:  
  • DMS: Update physical and mailing addresses. This applies to owners and development team members.  
  • Key Personnel/Team Changes: 
  • DMS: Update the primary and secondary contact information, including phone numbers and email addresses. 
  • Constant Contact: Personnel who need to receive official notifications from AHFA (Multifamily Notices, Application Cycle information, funding, training opportunities, etc.) should sign up to receive the desired communication streams from AHFA. Existing recipients may update contact information and publication choices at the same link.  
  • Portfolio Changes: 
  • Active AHFA properties (properties within the compliance/extended use period) must have ownership changes approved by AHFA before the change in ownership. Details regarding the processes and necessary forms for ownership changes and transfers are on the AHFA website.  

 

Updating or validating your contact information on record with AHFA will help keep you and your organization informed and prepared for challenges and opportunities to come. Please contact us at ahfa.mf.general@ahfa.com if you have other questions regarding contact information.  

AHFA 2023 Plans: Timelines andApprovals

The AHFA 2023 Plans, including the Low-Income Housing Credit Qualified Allocation Plan (QAP), HOME Action Plan, Housing Trust Fund Allocation Plan, and the HOME-ARP Allocation Plan, were approved by the AHFA Board of Directors on September 20.


AHFA presented the 2023 QAP to Governor Kay Ivey, which she approved on October 5. The HOME-ARP Allocation Plan (an amendment to the 2021 HOME Action Plan) was submitted to HUD for review and approval on October 12. The 2023 HOME and HTF Plans will be included with the state’s 2023 Consolidated Annual Action Plan and submitted to HUD for review and approval next spring.  


AHFA will release timelines and application materials for the 2023 Competitive Application Cycle via Multifamily Notices. Please ensure you are signed up to receive notices from the AHFA Multifamily Division.   

Alabama Housing Finance Authority | www.AHFA.com
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