Alabama Housing Finance Authority

Snapshot - Developers

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Amended Plan (August 12, 2009)

Notice of Amendment to the Section 1602 (Exchange) Allocation Plan

Notice is hereby given that Alabama Housing Finance Authority (AHFA) inadvertently failed to delete the section of the Exchange Allocation Plan that awards 10 points to projects that do not have an equity commitment with a Housing Credit Investor and can provide written proof of rejection of the syndication of Housing Credits from at least three Housing Credit Investors. This change was made based on HUD’s review of the TCAP Allocation Plan. In order for the Exchange and TCAP scoring systems to be consistent, the following language has been removed from the Exchange Allocation Plan.

10 Points will be given to projects that do not have an equity commitment with a Housing Credit Investor and can provide written proof of rejection of the syndication of Housing Credits from at least three Housing Credit Investors.   

No points will be awarded for reject letters. However, Section 11 of the application package requests copies of reject letters if the owner does not have an equity commitment.  This information is required to document “good faith efforts” to obtain syndication.     

 Click here to download the amended Exchange Program Allocation Plan (dated 08/12/09)