AHFA 2016 Market Study and Certification Requirements Overview
This overview provides detailed information on the Alabama Housing Finance Authority's 2016 Market Study and Certification Requirements for Multifamily Housing. It covers major changes, frequently missed information, certification process, timeline, and contact details. The document emphasizes the importance of complying with the requirements outlined in the HOME Action Plan and HC Qualified Allocation Plan. Applicants are advised to submit their Market Studies to AHFA within the specified deadlines for project consideration.
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Presentation Transcript
Alabama Housing Finance Authoritys 2016 Market Study Requirements for Multifamily Housing Overview Reference Documents: HOME Action Plan and Housing Credit (HC) Qualified Allocation Plan AHFA Form 3a Market Study Certification www.ahfa.com
Outline Major Changes in AHFA 2016 Market Study and Certification Frequently Missed Market Study and Certification Information Market Study Timeline and Process AHFA Point of Contact 2 Alabama Housing Finance Authority
Major Changes in 2016 Market Study and Certification Market Certification under Site Analysis. Expanded explanation of how to determine the 2- mile Radius, on the under Market Supply Analysis regarding Comparable Properties Expanded Item D. Market Analysis, on the Market Study Certification See AHFA s 2016 HOME Action Plan, Housing Credit Qualified Allocation Plan, and Forms for full details. 3 Alabama Housing Finance Authority
Frequently Missed Market Study and Certification Information Failure to include (list and map) of all AHFA funded projects. List of all funded projects are available on AHFA s website at http://www.ahfa.com/multifamily/funded_applications_search.aspx. Failure to complete all information on the required certification. 4 Alabama Housing Finance Authority
Market Study Timeline and Process The Market Study must be received by AHFA thirty (30) days prior to the project s final application submission date. The application window is expected to be March 9-10, 2016 (application dates will be published in January 2016). Applicants should plan to submit Market Studies to AHFA no later than 3:00 p.m., February 11, 2016. Announcement of 2016 Project Awards is expected in June 2016. 5 Alabama Housing Finance Authority
AHFA Point of Contact Any questions regarding the 2016 AHFA applicant submittal of Market Studies to AHFA must be directed via email to: Tyler Hunt AHFA Underwriter ahfa.mf.underwriting@AHFA.COM This document is not intended to usurp, conflict, or supplant the requirements identified in the 2016 AHFA HOME Action Plan or 2016 AHFA HC Qualified Allocation Plan. 6 Alabama Housing Finance Authority
