FY15 Annual Report & Audited Financial Statements Released

We are pleased to announce the release of our FY15 Annual Report, which highlights our 35th anniversary as well as our work in FY15.

Instead of printing this year’s report, we have developed a 3D electronic publication that can be viewed at http://online.flipbuilder.com/ahfa/tfzf/. You can also download and/or print the publication.

To read the Annual Report, simply click the arrows on either side of the screen to flip forward or backward through the publication. If your speakers are on, you will hear a page turn sound that can be turned up or down, or turned off entirely.

The 2015 edition allows access to more information through interactive elements including hyperlinks that go to webpages, pictures and graphics that expand, and an embedded video. These interactive elements, including the + signs throughout and many of the feature pictures, will quickly “blink” when you turn the pages. When your mouse hovers over them, an animated blue border will appear, and your mouse pointer will change from an arrow to a hand. Keep in mind some elements may take longer to load and appear.

The Annual Report also includes a link to our FY15 financial statements.

We hope you enjoy reading our FY15 Annual Report. Thank you for your support.

AHFA Welcomes New Board Member

The AHFA board and staff welcome Blake Corder of Crimson Properties in Tuscaloosa to the Board of Directors.

Corder was appointed by Alabama Lieutenant Governor Kay Ivey to serve the remainder of Anthony Barnes’ term ending in December 2015 as well as a subsequent seven-year term expiring in 2023.

AHFA Board Meets December 17

The AHFA Board of Directors met in December. The meeting’s business included:

  • The Multifamily Division’s 2016 HOME Investment Partnerships Program Action Plan and the Housing Credit Qualified Allocation Plan (see next article for further information)
  • The conversion of 2012 volume cap to Mortgage Credit Certificates
  • A resolution honoring deceased Board member Anthony Barnes

2016 HOME/Housing Credit Allocation Plans Approved

The AHFA Board of Directors approved the 2016 HOME/Housing Credit allocation plans during its December 17 meeting. The allocation plans will be used to direct the application process and funding awards for 2016 HOME Investment Partnerships funds and Housing Credits.

The plans are available for download: http://bit.ly/1QxwcqE.

AHFA Employees Participate in Salvation Army Angel Tree Program

AHFA employees recently held a fundraiser and collected more than $700 to support their participation in the Salvation Army’s Angel Tree program. AHFA works with the Mortgage Bankers Association of Alabama (MBAA) to provide clothing and toys for needy children.

Through the fundraiser and additional employee sponsorships, AHFA bought Christmas gifts for 7 area children.

Grand Opening & Ribbon Cutting Held for The Timbers at Rayleigh in Gadsden

A grand opening was held for The Timbers at Rayleigh in Gadsden on December 1. The 72-unit development was financed in part by more than $1 million in Housing Credits, administered by AHFA.

The Timbers at Rayleigh offers fantastic amenities such as a clubhouse with cable and wifi, exercise room, playground, a picnic area with grills, and a gazebo. Each unit comes with an Energy Star range and refrigerator, central heating and air, a microwave, ceiling fans, and washer and dryer connections.

Grand Opening & Ribbon Cutting Held for Deer Ridge II in Fort Payne

A grand opening for Deer Ridge II Apartments in Fort Payne was held December 3. The 52-unit development was financed in part by $1.6 million in HOME Investment Partnerships program funds and $585,275 in Housing Credits, both administered by AHFA.

Deer Ridge II is specifically designed for independent seniors over 55 years of age and offers spacious 1 and 2 bedroom units, many with accessible and safety features. Other development amenities include air conditioning, covered porches, fully equipped kitchens, W/D hook-ups and extra storage area.

ServiSolutions Staff Member Receives Customer Compliment

“Hello, I wanted to get in contact with you to let you know that I am truly appreciative of Trudy Jiles.

I have appreciated all the help Trudy has been.

This is my first home and every time I have called I have had the privilege to speak with Trudy, who has gone out of her way to help me with all of my concerns with my loan.

It has been very nice to know that if I have an issue I have a resource like Trudy that I can contact to help with my issues/concerns!” -ServiSolutions customer Jonathan P.

Way to go, Trudy!

Congress Passes Omnibus Spending and Tax Bill with Permanent 9 Percent Minimum Housing Credit Rate, HOME Increase

In December, the Senate passed combined FY 2016 omnibus spending and tax extender legislation. After passing the two bills separately, the House combined them into one bill for Senate consideration.

The legislation makes permanent the 9 percent minimum Housing Credit rate, allowing states to provide more equity to Housing Credit properties that need it for financial feasibility. It also funds HOME at $950 million, $50 million more than in FY 2015.

January Holiday

AHFA, ServiSolutions and Hardest Hit Alabama will be closed on Monday, January 18 in observance of the King/Lee holiday. Please make a note of this date.

Alabama Housing Finance Authority | 334.244.9200 | Email | Website