Multifamily Bond Program
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The National Low Income Housing Coalition is providing this data as a public service. NLIHC will continue to update the database. The accuracy of the data is based on information provided by the programs' administrators and user submissions.
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The Alabama Housing Finance Authority (AHFA) provides financing to affordable housing developers through multifamily bonds with below-market interest rates in exchange for reserving a portion of their units for tenants with incomes below the area median income (AMI). Developers can use the financing for the acquisition, renovationm, and construction of rental housing. In FY12, one bond was issued that resulted in the construction of 129 new units for households at 60% AMI or less.
Funding Description: In FY12, one bond was issued valued at $13 million. In FY13, one bond was issued valued at $4.6 million. In FY14, three bonds were issued valued at $32.87 million.
Website: http://www.ahfa.com/Multifamily_Bonds/What_are_Multifamily_Bonds_.aspx
Contact: Kristi Gates, Alabama Housing Finance Authority, [email protected], 334-244-9200
