AHFA has issued waivers and extensions, awarded additional funding, and facilitated tax-credit swaps for previously awarded projects negatively affected by COVID-19, supply-chain issues, and economic downturn following guidance provided by the IRS and HUD. AHFA has implemented these measures to the fullest extent possible.  

To date, AHFA has fully exhausted all relief measures within its purview. There are no remaining relief options available for AHFA to offer beyond those detailed in previously released AHFA Plans. 

The Draft AHFA 2023 Housing Credit Plan includes a Pandemic Relief option for AHFA projects approved during the 2021 Competitive Application Cycle, similar to the remedies included in the 2022 AHFA Plans.   

The public commenting period for the Draft 2023 Plans ends on August 15th. Please provide relevant comments regarding these and other matters as part of the public commenting process. 

After the Public Participation Process and the required approval processes, AHFA will promptly provide notice regarding the next steps concerning the implementation of available remedies for 2021 projects when feasible.  

AHFA is aware of requests by certain affordable housing trade groups regarding waivers and extensions of particular Section 42 deadlines, inclusive of the 10% test. AHFA will act upon any additional guidance the IRS provides and promptly notify owners of necessary steps to access relief measures.

When requesting relief from AHFA, owners must provide updated budgets as cost increases have specific effects on each project. AHFA will offer available additional resources, allowing owners to make informed decisions regarding the future viability of proposed projects. Owners must submit written requests for assistance, rent increases, or other measures taken to offset increased project costs to AHFA for review and approval.