Low-Income Housing Tax Credits & Tax-Exempt Bonds in Alabama, 2018

Alabama's 2018 Qualified Allocation Plan (QAP) requires 4% housing tax credits to meet the QAP threshold criteria.

AHFA will calculate the Housing Credit allocation at a maximum of 4% of AHFA’s determined eligible basis if the project is financed with Multifamily Housing Revenue Bonds or constitutes a qualifying acquisition.

For projects not located in a QCT and/or DDA, AHFA will underwrite all applications using a 4% Housing Credit rate. For projects located in a QCT and/or DDA, AHFA will underwrite the applications using a 3-month average of the applicable credit percentage. If legislation is enacted that allows the Housing Credit rate(s) to be fixed rate(s); the applicable fixed rate(s) will be used.

 

Multifamily Housing Revenue Bonds:

Any applicant applying for Housing Credits for a project financed through the AHFA Multifamily Housing Revenue Bond program will be exempt from the extended low-income use requirement and the competitive point scoring process. However, the application must meet all of the QAP threshold requirements.

The Market Study and Environmental Assessment reports must be submitted within the time required by the AHFA Multifamily Housing Revenue Bond Policy requirements for application submission.


Contributed By: 
National Housing Trust

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