AHFA Announces 2017 Multifamily Housing Development Allocations
June 23, 2017
On June 13, AHFA announced the 18 multifamily housing developments selected by its Board of Directors to receive allocations of 2017 Low-Income Housing Tax Credits (Housing Credits) or Housing Credits combined with HOME Investment Partnerships Program (HOME) funds.
The approved developments will create 1,136 units of affordable housing across Alabama. Typically, construction on these approved developments begins within 6 months, with an expected completion date within 18-24 months.
Housing Credits and HOME funds, as primary AHFA funding sources, create affordable rental housing by providing funding and tax incentives that help developers build or rehabilitate properties for Alabama's low-income families.