Although lower rent is the main goal of affordable housing, other costs can impact a resident’s quality of life. An often overlooked cost is travel expenses to and from necessary services, like gas, groceries, banking, and healthcare, particularly for aging residents.

Betty Brooks, a native of Wilcox County, used to travel up to two hours each way just to visit her specialized doctors in Montgomery. Being so far from necessary services, Betty started to find her rural living situation unsuitable, so in March of 2025, she decided to move to Montgomery.

“I moved from Wilcox because it’s closer to my doctors,” says Brooks. “I no longer have to do the long-distance driving.”

Betty now lives at Magnolia Trace, a 56-unit affordable apartment community, where she enjoys a spacious floor plan, a walk-in shower, and visiting with other residents. AHFA provided Housing Tax Credits resulting in an equity infusion of $14.2 million for Magnolia Trace, and $3.1 million in HOME funds to finance its construction. 

Ms. Brooks’ doctors advised her to avoid long drives whenever possible, so she now only visits her hometown for church services. “I got better healthcare, and I don't have to travel 90 miles to get to a doctor,” Betty said. “I can now go two to three miles and I'm at my doctor’s office.”

Multifamily Administrator David Young sat down with Betty in her new apartment to hear her story at the recent Grand Opening of Magnolia Trace.

“AHFA encourages projects that are in close proximity to healthcare,” said Young. “It ensures that people like Betty get the best care possible while living in affordable housing.”

Many elderly renters live in rural areas, and face numerous barriers to receive the healthcare they need. For this reason, AHFA awards points for applications that are near necessary services, including a hospital or a doctor’s office.

“Our seniors often face chronic conditions and live in neighborhoods with a lack of access to healthcare options and limited public transportation,” said Young. “Incentivizing developers to provide housing near these much-needed services makes life a little easier for Alabama’s aging population.”

To hear more from Betty, watch our most recent video, Grand Opening at Magnolia Trace.

To learn more about AHFA’s Allocation and Application Cycle, visit www.ahfa.com.

Policy Update Enables Faster Repair Payments

AHFA has updated the reserve account requirements for HOME-funded projects. Owners and banks are no longer required to obtain AHFA’s signature for withdrawals or check processing on HOME project reserve accounts. However, project owners must still obtain written approval from AHFA before initiating any withdrawals.

AHFA originally implemented this policy change on August 3, 2022, as reserves requests were submitted. The change in policy streamlines access to reserve funds, enabling faster payment for project repairs. AHFA’s goal is to expedite repair approvals to ensure tenants enjoy the best living conditions and to enhance the longevity of the projects. Project owners whose reserve accounts still include AHFA should contact AHFA to initiate the process to remove AHFA’s name.

To proceed, AHFA will provide the necessary documents, including the Policy Modification Notice, Amendment to HOME Commitment, and the Deposit Account Control Agreement. Upon request, these documents will be sent to the project owners. The owners and their bank must complete and return the original documents to AHFA. Once reviewed, AHFA will send back a finalized copy. AHFA anticipates completing all account updates by the end of the year.

Scholarships Set Up Students for Success

By financing the construction and repair of affordable rental housing, AHFA helps provide stable homes for children to grow up in. We continue to recognize outstanding students from these developments through the Alabama Affordable Housing Association’s scholarship program. Since its inception, the program has provided financial aid to 650 young adults.

Click the video to learn more about the program and meet three of this year’s scholars: a nurse in training, a pre-med student, and a program alumna who shares how winning the scholarship put her on the path to success.

The Alabama Housing Finance Authority has been proud to serve as one of the annual sponsors of the AAHA Scholarship luncheon for many years.

AHFA looks forward to providing additional rental and homeownership opportunities to the scholarship recipients as they build their careers in Alabama.

To view more student spotlights, visit www.ahfa.com/multifamily/student-spotlights.

Smith Named AHFA

Manager of the Year

Polly Smith of Monroeville has been recognized as the Alabama Housing Finance Authority’s 2025 Manager of the Year. As manager, Smith oversees the daily operations of Candlewick Senior Village, home to 64 affordable apartments for elderly residents.

Now in its 28th year, the Manager of the Year award recognizes outstanding management staff at AHFA-funded multifamily housing developments.

“What sets Polly apart is not just her technical excellence, but her heart for the people she serves,” said Jeff Beaver, general partner at Olympia Management, who nominated Smith for the award. “Residents trust her. Colleagues respect her. Communities thrive because of her.”

AHFA Multifamily Administrator David Young commended Polly as well: “We appreciate managers who devote their time and energy to making AHFA-funded apartment communities feel like home from day one,” he said.

AHFA Compliance Coordinator Tom Peaspanen presents Polly Smith (L) with AHFA’s Manager of the Year Award. View our video below for a closer look at Polly in action as she creates a supportive and flourishing community at Candlewick.

Holiday Closing Scheduled

AHFA will be closed Monday, September 1, 2025, in observance of the federal Labor Day holiday. We will reopen Tuesday, September 2, 2025, at 8 a.m..

Alabama Housing Finance Authority | www.AHFA.com