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.
Through these programs, AHFA has provided more than $1.6 billion in funding and tax incentives to help build or preserve 62,454 units. Of these, 681 are active rental developments comprising 37,768 units across the state with an average reported occupancy of 96 percent. Another 82 developments, comprising 4,272 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.