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Multifamily

Developer FAQs

When are the deadlines for AHFA's HOME/Housing Credit application cycles?

An application cycle is usually held January through March each year. The dates of the application cycle (or cycles, if more than one) will be determined by AHFA on an annual basis. All individuals who have requested to be on the e-mail distribution list will receive notification of the cycle via Constant Contact. Notice of the cycle will also appear at www.AHFA.com and in no less than four (4) newspapers throughout Alabama.

Please complete the information on the Join Our Mailing List menu at www.ahfa.com/multifamily to receive notification of our application cycle and other information.  


How much does it cost to apply for HOME/Housing Credit funds?

At Application:

A $10,000 non-refundable fee for an application with one or more owners applying on a single application that has less than three (3) placed-in-service projects funded with Housing Credits and/or HOME funds awarded by AHFA.

A $7,500 non-refundable fee for applicants with one or more owners applying on a single application that has three (3) or more placed-in-service projects funded with Housing Credits and/or HOME funds awarded by AHFA.

A $2,000 non-refundable fee for all proposed Community Housing Development Organization (CHDO) applicants applying for HOME funds regardless of the number of placed-in-service projects awarded by AHFA.

Multifamily Housing Revenue Bond Applications:

A $7,500 non-refundable fee must accompany the complete application submitted for consideration for a Declaration of Official Intent


Do you have any special set-asides for Housing Credit funds?

Yes, 10 percent of AHFA's Housing Credit allocation is reserved for non-profits.


Do you have any special set-asides for HOME funds?

Yes, 15 percent of AHFA's HOME allocation is reserved for Community Housing Development Organizations, or CHDOs.


Do you cap the amount of Housing Credit funds one development or one developer can receive?

Yes, AHFA sets a limit of 12 percent of AHFA's per capita Housing Credits for each development, and a limit of 12 percent of AHFA's per capita Housing Credits for each owner or related entity.


Does AHFA offer any special training?

Yes, AHFA holds free workshops for potential applicants each year. These sessions generally are held 30 to 45 days prior to the application cycle.

Please visit our website and join our mailing list to receive notifications of application workshops, upcoming trainings and events.


What is a CHDO, and how does an organization become one?

At least 15 percent of HOME Investment Partnerships Program (HOME) funds must be set aside for specific activities to be undertaken by a special type of nonprofit called a Community Housing Development Organization (CHDO). A CHDO is a private nonprofit, community-based organization that has staff with the capacity to develop affordable housing for the community it serves. In order to qualify for designation as a CHDO, the organization must meet certain requirements pertaining to their legal status, organizational structure, and capacity and experience.

For more information regarding CHDO designation please visit https://www.hudexchange.info/programs/home/home-chdo/#policy-guidance.

For information regarding AHFA’s CHDO set aside and certification please visit /multifamily/home-housing-credits/chdos.


When will my development be audited?

Audits are scheduled at random throughout the year. AHFA audits its Housing Credit-funded developments every three years, and its HOME- or bond-financed developments every year.


What is your compliance monitoring fee?

AHFA charges $750 per unit for the project's compliance fee.


Does AHFA offer any special compliance monitoring training?

Yes, AHFA holds an annual compliance monitoring workshop.