AHFA Board of Directors to Hold June Meeting |
The AHFA Board of Directors will meet in public session in the AHFA offices on Wednesday, June 14 at 11 a.m. |
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Kids' Art Contest Now Accepting Entries |
AHFA's 2023 Kids' Art Contest launched June 1 to commemorate National Homeownership Month. The second annual event is open to any child ages 5-12 in Alabama. We invite young artists to submit an original art piece that illustrates a lesson in financial literacy and features our mascot, Bud.
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Millbrook Manager Named AHFA's Manager of the Year |
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Susan Moncrief of Gateway Management Company, manager of Hamilton Place in Millbrook, has been named AHFA's 2023 Manager of the Year.
Moncrief has worked in property management for 12 years and has been at Hamilton Place for most of that time. She was nominated for the award by Deborah Brown, regional property manager for Gateway Management Company. Brown wrote, “Susan has previous experience working with the public in retail and restaurant businesses. This is one reason Susan is so good with her residents. She understands the different personalities, what makes people happy, and that what is important to some may not be important to others. She uses this knowledge to connect with her residents and effectively communicate with each of them.”
Hamilton Place is a 56-unit development for the elderly. It was financed in part by $1.69 million in HOME Investment Partnerships Program funds and $400,545 in Housing Credits, administered in Alabama by AHFA.
The resident letters included in Moncrief’s nomination package are a testament to the energy she has put into creating a community within a community at Hamilton Place.
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When a resident fell in the bathroom, Susan sat and held her hand until the ambulance arrived. The resident said, “You did not care how much blood was there; you sat right down on the floor with me until the paramedics got there.”
Another resident said, “I am blind and can't write my check out. Susan makes me feel so special.”
One resident wrote, “She goes out of her way to help anybody. She always has a smile on her face.”
Another resident commented, “She is always very professional, friendly and understanding.”
As another letter writer stated, “Susan has created a very nice community of residents that we all call family. She simply knows how to bring all the right people together. She has built a community.”
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“As a regional property manager, Susan is the person you want to have on your property as a manager – a person who treats it as their own," said Brown. "She's a person who genuinely cares for the residents, a person who can meet the budget while keeping the property in pristine condition. Susan is the epitome of the ideal property manager, and I’m so glad that she is on my team.”
Now in its 26th year, the MOTY award recognizes outstanding management staff at AHFA-funded developments. Moncrief was one of seven nominees this year and received her award during the Alabama Affordable Housing Association's annual conference. Please join us in congratulating Susan Moncrief, AHFA's 2023 Manager of the Year.
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AHFA Provides Training for CHDOs |
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AHFA's 2023 Community Development Housing Organization (CHDO) workshop was held May 16 in Montgomery, led by HOME Technician Dondra Houlditch.
The multifamily team provided a refresher course on HOME and CHDO offerings and keys to successful participation as an AHFA CHDO, and an opportunity for nonprofits and existing CHDOS to network and learn from each other.
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Increased Income and Sales Price Limits
Announced for AHFA's MCC Program
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The new income limits were released by the U.S. Department of Housing and Urban Development and are based upon the state's median income. Homebuyers can earn up to $119,400, depending on location and family size.
The maximum sales price is now $588,104 in target areas and $481,176 in non-target areas. AHFA will verify the location of each property individually to determine which limit applies.
The new higher sales price and income limits benefit participants in the MCC program, which provides a tax credit to reduce the amount of federal taxes owed by a percentage of the annual mortgage interest paid each year. The remaining annual interest may be claimed as a mortgage interest deduction on the homebuyer's federal tax return. Qualified homebuyers will receive a larger federal tax break or tax refund each year or benefit from immediate savings by updating the withholdings on their W-4 form.
MCCs may be paired with AHFA's Step Up program or any conventional fixed-rate, FHA, VA, Rural Development, and privately insured mortgages.
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Grand Opening Ceremonies Held for Anniston Development |
On April 20, the City of Anniston, City's HOME/Dept of Community Development, Anniston Housing Authority, Hollyhand Development and many other partners joined together for the ribbon-cutting ceremony and open house for Barber Terrace, a redeveloped 60-unit family property located in Anniston.
This development brings new, high-quality and safe housing to the many families that need affordable housing in Anniston. Barber Terrace sits on the crest and overlooks the southern end of the city with key features such as a playground, picnic pavilion, exercise facility, computer center, laundry room and more.
The South Allen Avenue development was financed in part by more than $10.7 million in Low-Income Housing Tax Credit equity, administered in Alabama by AHFA. AHFA administers multifamily programs to create affordable rental housing by providing funding and tax incentives that help developers build or renovate properties for Alabama’s low-income families.
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Picture This: Single-Family Outreach & Education in May
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May 2: Realtor training with Keller Williams Auburn Opelika and Regions Bank Montgomery
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May 11: Lender visit with Atlantic Bay Mortgage, Birmingham
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May 11: Mortgage Bankers Association of Alabama annual convention
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May 16: Lender visit with FirstBank Mortgage, Fairhope
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May 16: Realtor training with Jason Will Real Estate Group in Fairhope, James Hall of Freddie Mac, and Princeton Mortgage
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May 17: Realtor training with Realty South in Birmingham, James Hall of Freddie Mac, and Prosperity Home Mortgage
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May 17: Realtor training with Realty South in Mountain Brook, James Hall of Freddie Mac, and Prosperity Home Mortgage
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May 24: Realtor training with MarMac Real Estate in Decatur and SouthPoint Bank Home Mortgage
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AHFA Offices to Close for July Holiday |
The AHFA and ServiSolutions offices will be closed Tuesday, July 4 in observance of the Independence Day holiday. We will reopen at 8 a.m. on Wednesday, July 5. |
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Alabama Housing Finance Authority | Montgomery, Alabama | 334.244.9200 | Email | Website
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