AHFA administers multifamily programs that create affordable rental housing by providing funding and tax incentives that help developers build or rehabilitate properties for Alabama’s low-income families.
As of May 31, 2019, AHFA has provided more than $792 million in funding and tax incentives to help build or preserve 706 active developments comprising 37,893 units across the state with an average reported occupancy of 96 percent. Another 59 developments, comprising 4,020 units, are in various stages of completion. AHFA-financed developments can be found in every county throughout the state.
AHFA is Alabama’s administrator of the federal HOME Investment Partnerships Program (HOME) and Low Income Housing Tax Credit (LIHTC) program, as well as the national Housing Trust Fund. In addition, AHFA issues multifamily housing revenue bonds for the acquisition, renovation and new construction of affordable rental housing.