General executive Summary




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F. Loan Structure

The structure of the loans made under Alabama’s HOME Program will be determined based upon AHFA’s assessment of the proposed project’s ability to address the needs as identified by the Plan. HOME funds to be allocated to any project will not exceed the amount, determined by AHFA, needed to make the project economically feasible. The amount, terms and rate structure will be set by AHFA. General loan guidelines are as follows and are subject to change at AHFA’s discretion:

  1. Loan Terms and Repayment: HOME funds will be allocated to the approved projects in the form of a loan. The loan will bear an interest rate of 1/2% accruing annually with deferred payments for twenty years. The principal and interest will be due at the end of the 20th year. In the event of default, AHFA reserves the right to set a default rate in excess of the prevailing Prime Lending Rate applicable at the time of the default.

  2. Eligible Activities: New construction of rental units.

  1. Eligible Participants: For-profit developers, CHDOs, non-profit developers or any entity eligible to receive an appropriation under Title II of the Act.

  2. Security: The loan may be secured by a first or subordinate mortgage on the land and the existing or proposed improvements. In addition, a collateral assignment of rents and leases will be executed in connection with the property. Additional collateral may also be required, but is subject to the discretion of AHFA based on the nature of the transaction involved.

  3. Guaranty: AHFA, in its sole discretion, may require that the loan be guaranteed by an individual(s) or entity acceptable to AHFA.

  4. Insurance: Appropriate insurance will be required in connection with the principal security as collateral for the loan. In addition, the applicant, developer and/or builder must evidence insurance coverage to include, but not be limited to, builder’s risk insurance, general liability insurance, and loss of rents insurance.

  5. Good Standing: No loan application will be processed for any borrower or related entity which is not in good standing with AHFA and any other state housing finance authority, the Alabama Department of Economic and Community Affairs (ADECA), the U. S. Department of Housing and Urban Development or the USDA Office of Rural Development (formerly the Farmers Home Administration). An applicant can be denied consideration of the HOME funds under Alabama’s HOME Program if the applicant or its related parties have a history of payment delinquencies, bankruptcy, foreclosure or activities determined to be unsound or unlawful.

  6. Closing Costs: The borrower is responsible for all closing costs incurred in connection with any HOME Program loan(s), inclusive of all AHFA-appointed attorney’s costs.

  7. Environmental Review: Before AHFA can commit HOME funds, a Phase I Environmental Site Assessment prepared by an environmental engineer must be completed. The form and content of the report, including all findings, must be acceptable to AHFA. AHFA will approve, select and engage all environmental engineers. Environmental reviews will be conducted in accordance with the applicable HOME regulations.

  8. Survey: Loans closed under Alabama’s HOME Program will require a survey of the property, which must be completed prior to closing, and contain a flood zone certification. The survey, in form and content, must be acceptable to AHFA.

  9. Declaration of Land Use Restrictive Covenants: Prior to closing, applicants must execute and record a copy of the Declaration of Land Use Restrictive Covenants agreement. The terms of the agreement will require that the covenants remain in effect for the required low-income occupancy period.

  10. Construction Consultant: AHFA will contract with an independent construction consultant who may: (i.) perform an up-front analysis of the construction budget to determine the reasonableness of costs as presented; (ii.) review the preliminary and final plans and specifications of the project (during and upon the completion of the project) for compliance with applicable local, state and federal building codes and ordinances; (iii.) review work in progress and the completed project for any material defects; and (iv.) review specifications and make comments and/or recommendations regarding the quality of materials to be used in connection with the project.

  11. Appraisal: Appraisals will be required on all loans and must adhere to applicable federal and state laws. The appraisal must be completed by an appraiser who is state-certified. AHFA will select and engage all appraisers.

  12. Application Cycles: Applications for Alabama HOME funds must be made to AHFA during an application cycle. Cycles will be competitive and on a first-come, first-served basis. Funding decisions will be based upon the project selection criteria and point scoring system as detailed herein.




  1. ALLOCATION PROCESS




    1. Application Cycles

The dates of application cycles will be determined by AHFA on an annual basis. All individuals who have requested to be on the mailing list (see Section IV (B)) will receive notification of the cycles by mail or e-mail. Notice of the cycle will also appear in The Birmingham News, The Huntsville Times, The Mobile Press Register and The Montgomery Advertiser.


Persons wishing to apply for HOME funds must request and complete the AHFA HOME Funding application. Applications may be obtained by letter request or online. All correspondence and inquiries are to be directed to the following:

Alabama Housing Finance Authority

Attn: Multifamily Division Phone Number: (334) 244-9200

P. O. Box 242967 Fax Number: (334) 244-9214

Montgomery, Alabama 36124-2967 www.AHFA.com


    1. Mailing List

AHFA maintains an e-mail distribution list for those interested in receiving notifications of application cycles and other AHFA Multifamily program activities. Visit AHFA’s website at www.ahfa.com to be added to the e-mail list or you may submit a written request to the aforementioned address. Changes or updates to contact information are the responsibility of the provider and should be submitted to AHFA in a timely manner.

    1. Application Threshold Requirements

Although AHFA recognizes that each application submitted is different, certain standard requirements must be met by all applicants before the application can be considered. If any of following threshold requirements are not met, the application will terminate. The threshold requirements are:


  1. Application Fee. A $ 3,000 non-refundable fee must accompany the application. The fee must be in the form of a check (no cash accepted). If the application fee is returned due to insufficient funds, the application will terminate. Regardless of the funding decisions, the application fee is non-refundable.

  2. Site Control. If the applicant does not already own the property for which funds are requested at the time of application, the applicant must have site control as evidenced by a purchase option. Because of regulations that impact the varying lengths of the approval process for each property, AHFA strongly suggests that the applicant (i.) secure, at a minimum, a six-month purchase option with an option to renew for an additional six months and (ii.) obtain seller’s written agreement not to disturb the site until all environmental issues have been cleared.

  3. Proper Zoning. The applicant must provide evidence that the property owned/to be owned is properly zoned and consistent with the proposed project’s use. (AHFA does not consider the property zoned if contingent upon further city meetings, approvals and/or advertisement.) Evidence must be in the form of a signed statement from the local jurisdiction where the property is located.

  4. Market Study. The applicant must provide a market study conducted by an independent third party market analyst with a signed Certification of Market Study Requirements Form provided by AHFA in the application package. The market study must demonstrate an adequate market for the proposed units and the proposed units will not adversely impact any existing AHFA projects or create an excessive concentration of multifamily units. If the market study that AHFA obtains does not satisfy AHFA’s requirements, the application will terminate.

  5. Certification of Consistency with the Consolidated Plan. If the proposed project is in an area that is covered by a local Consolidated Plan (see instructions for list), the applicant must have the certification of consistency completed by an authorized official of the participating jurisdiction. If not, the project will be under the State of Alabama’s Consolidated Plan, and a letter will not be required.

  6. Design Quality Standards. All projects are required to meet AHFA’s Design Quality Standards (Addendum A) for attached rental units or (Addendum B) for single-family homes. These are minimum standards. AHFA will permit projects to exceed these standards. Each applicant may construct the proposed project in a manner that reflects applicant goals or that exceeds local building codes.

  7. Flood Certification. The applicant must provide a completed FEMA Standard Flood Hazard Determination Form (FEMA form 81-93, DEC 08) from a nationally recognized flood data service or from a licensed surveyor that no portion of the property is located within the 100-year flood plain. No portions of the site may contain wetlands including any portions not considered part of the site but necessary for ingress and egress to the site.

  8. Applications submitted in other Participating Jurisdictions. The applicant that submits an application in a city or county that receives HOME funds must obtain a commitment for HOME funds from applicable participating jurisdictions, equal to ½ of the HOME funds requested from AHFA. The participating jurisdictions are listed on page 2 of the HOME Action Plan.

  9. A Phase I Environmental Site Assessment. The applicant must provide a Phase I environmental site assessment and it must include an environmental lien search and color photos of the site. The Phase I must be addressed to the Alabama Housing Finance Authority and conform to the American Society for Testing and Materials Practice Standard E-1527-05. If the Phase I recommends that a Phase II be conducted, the application will not be considered for funding unless the applicant also submits a clean Phase II at the time of application, which indicates all issues have been cleared.

  10. Architect’s Certification of Project Progress. The project’s architect must certify that all building foundations slabs or crawl space are in place on 2009 and 2010 AHFA funded projects. AHFA funding includes HOME, Housing Credit, TCAP, Exchange and Tax Exempt Bonds. GO Zone projects are exempt from this requirement.

  11. Site Location. AHFA will not consider an application for new construction in a county that AHFA funded in 2009, 2010, and 2011 unless all AHFA 2009, 2010, and 2011 projects within a 2-mile radius of the proposed site have been placed in service and are 90% occupied at the time of application.


Projects funded with Housing Credits only, Housing Credits combined with HOME funds, Exchange funds, and tax exempt Bonds combined with Housing Credits will be included within the 2-mile radius requirement. Radius is defined as a straight line extending from the center of a circle to the circumference.


Applications that contain financing through HUD’s HOPE VI, Choice Neighborhood, Replacement Housing Factor funds, Capital Fund Program funds, and Promise Neighborhood developments will not be subject to the 2-mile radius requirement.


AHFA will provide reasonable assistance in determining occupancy of applicable projects, upon request. All information provided to applicants by AHFA will be based upon third party information reported to AHFA. AHFA will confirm occupancy of all applicable projects at the time of application.


AHFA’s determination of occupancy is final and binding on all applicants. AHFA is not responsible for errors or omissions in occupancy reported to AHFA.


Note: If a project returns it’s Housing Credits and does not go forward before application process, that project will not considered in determining the 2-mile radius requirement.



    1. Negative Actions

Should the following actions occur after the application has been submitted to AHFA, consideration of the application will terminate:

  1. Site change;

  2. Change in ownership--a change in the parties involved in the ownership entity (e.g., addition of a new general partner/member or removal of an existing general partner/member);

  3. Change in unit design, square footage, unit mix, number of units, number of buildings, etc. (unless changes are required by local regulatory codes);

  4. Change in the general contractor;

  5. Change in the management company;

  6. Change in the architect;

  7. Instances of excessive or flagrant non-compliance on applicant’s existing projects;

  8. Any staff or development team member (listed on page 2 of the application) who has instances of excessive or flagrant non-compliance with AHFA, Housing Credit, HOME, or Tax Exempt regulations on existing projects;

  9. Any staff or development team member (listed on page 2 of the application) who is presently debarred, suspended, proposed for debarment or suspension, declared ineligible or voluntarily excluded from any transactions or construction projects involving the use of federal funds or Housing Credits;

  10. Applicant has a project with AHFA that is in foreclosure or has been foreclosed; and/or

  11. Any material adverse change relating to the project or owner.

  12. If the Applicant’s only project (applicant’s first project and first time ever Awarded funds by AHFA) was funded in 2009, 2010, or 2011 and that project is not complete and has not reached 90% occupancy at the time of application.


The above list of negative actions is not all-inclusive. The application package itself will list other necessary requirements. AHFA may terminate consideration of an application if any factual information supplied in connection with the application is fraudulent, misleading, or materially incorrect. Determination of whether information is fraudulent, misleading, or materially incorrect will be determined by AHFA in its sole discretion.


    1. Application Evaluation

AHFA follows a competitive process by which all applicants are objectively scored according to criteria specified in the HOME Action Plan. AHFA strictly adheres to the policy and procedures of the program. Efforts to influence this process through the aid of lobbyists or other sources would be futile. Action of this type would be a violation of the allocation plans and could subject any offenders to civil or criminal liability. Each application must stand on its own merit.


  1. Process of Evaluation. Each application submitted will be subject to the following evaluations:




    1. Completeness. Applications will first be examined for completeness. Should an application not be complete as defined in Section III (C) (1) of this HOME Action Plan, it will receive point deductions. If the application is still incomplete after time has been given to submit the missing or deficient items, the application will be rejected, and no further consideration will be given. AHFA will not transfer information from one application file to another. AHFA will not call applicants for missing items related to scoring the application. AHFA may call applicants for clarification of any document submitted with the application.

    2. Point Scoring System. Once the application is checked for completeness, the application will be further evaluated using the Point Scoring System included in Section V.

    3. Financial Feasibility. Once the application is point-scored, the project will then be evaluated to determine its financial feasibility by examining the market in which the project is located and by performing an initial review of costs in connection with the proposed sources of funds. Applications that are not financially feasible at the time of submission because additional sources of funds are necessary will not be considered for funding.


AHFA will require a minimum debt service coverage ratio of 1.20 for HOME development debt financing that would foreseeably result in foreclosure if not repaid. For purposes of this standard, debt service coverage is defined as the ratio of a property’s net operating income (rental income less operating expenses and reserve payments) to forecloseable, currently amortizing debt service obligations. AHFA will determine the allowable operating expense based on historic and current HOME and Housing Credit properties’ financial statements.

AHFA will require the project to establish and maintain throughout the compliance period a minimum operating reserve. The operating reserve will be an amount equal to six months of the projected first-year operating expenses plus three months debt service.


AHFA will require the project to establish and maintain throughout the compliance period a minimum replacement reserve of $250 per unit annually (for ten years) for all new construction properties targeting the elderly and $300 per unit annually (for ten years) for all new construction targeting families.


AHFA’s determination of the appropriate amount of HOME funds is not a representation or warranty as to the financial feasibility of such project, and may not be relied upon as such by the applicant, owner, developer, investor, lender or any other person.


    1. Credit Worthiness. AHFA will perform credit investigations of the individuals and trade reports of businesses involved in the development and operation of the project. If these reports prove to be less than satisfactory, the application may be rejected.

    2. Reasonableness of Project Costs. Any line item costs, square footage costs or total unit costs exceeding a range of reasonableness will possibly be disallowed solely at the discretion of AHFA. Additional information and documentation (verified by AHFA and/or AHFA’s designee) may be required to substantiate the reasonableness of the cost. Any allocation made will be determined using AHFA’s assessment of cost. Any allocation of HOME funds made cannot exceed the HUD 221(d)(3) limits. A list of applicable limits can be provided by AHFA.


AHFA reserves the right to request certification or verification in a form acceptable to AHFA of any line item cost at any time between the application cycle and final allocation of the HOME funds. When the project is placed in service, AHFA requires the final cost certification to be made by an independent CPA.


  1. Frequency of Evaluation. Applications will be evaluated at least two times:

 At submission; and,

 Before the closing of the HOME loan.


    1. Developer and Builder Fees

  1. Developer Fee. The developer fee, which includes the developer’s overhead and profit plus consultant fees and the owner’s profit, should not exceed 15% of the total project costs (excluding the developer fee).

  2. Builder Fee. The builder fee, which includes builder profit and overhead, should not exceed 8% of the construction costs, excluding the fee. General requirements must be cost-certified and, as a general rule, should not exceed 6% of the total construction costs. Items included in general requirements will be consistent with HUD and USDA Rural Development regulations.

  3. Identity of Interest. AHFA requires that the applicant identify the existence of an identity of interest with any other party to the project including the sale of real estate. “Identity of Interest” is defined below in Section IV (G) of the HOME Action Plan.




    1. HOME Funds Allocations

No related entities, principals or individuals shall be allocated HOME funds in excess of 15% of the state’s 2012 HOME fund allocation. Regardless of the percentage ownership in a project, 100% of the project’s HOME fund allocation will count towards all caps.

The intent of the ceilings is to promote fair and objective administration of the HOME program by ensuring that no single applicant can receive an excessive share of the available HOME funds in any application cycle. Parties that have an identity of interest are presumed to be sufficiently related for them to be treated as single applicant for purposes of the ceilings. As described below, AHFA may in its discretion identify other parties whose relationship is sufficiently close to cause them to be treated as a single applicant for purposes of the ceilings. A significant factor in AHFA’s evaluation will be whether, based on the facts and circumstances, a primary purpose of a party’s involvement in a project appears to be avoidance of the ceilings.


For purposes of this paragraph, the following relationships constitute an identity of interest for purposes of identifying related parties in order to apply the ceilings:

  1. Individual persons are considered related to each other (i.) if they have any of the following direct relationships: parent, child, , spouse, son-in-law, daughter-in-law, father-in-law, and mother-in-law , including any such direct relationship created by marriage, remarriage, adoption, or any other legally recognized status, or (ii.) if one individual is an employer, by common law or otherwise, of the other.

2.) Entities are considered related to each other (i.) if any director, shareholder, partner, member, or any other type of owner of any entity would be considered a related individual (under item a. above) to any director, shareholder, partner, member, or any other type of owner of another entity, (ii.) if the entity has the ability to control another entity, or (iii.) if the entity owns a material interest in another entity. An entity will be presumed to control another entity if it has a percentage of ownership in the other entity or the ability to appoint a percentage of the members of the other entity’s governing body (i.e., board of directors, board of trustees, partners, managers, etc.) that would permit it to control the other entity either by operation of law or by agreement. A material interest means any ownership interest in excess of 20% of the stock, partnership interests, membership interests, or other forms of ownership of any entity; provided, however, that ownership interests held by Housing Credit investors, Housing Credit syndicators or special administrative partners or members shall be disregarded for purposes of 20% test.

3.) Without limiting the above, a trust will be considered related to an individual or entity if any trustee, trustor, grantor, settlor, beneficiary, permissible distributee, any person or entity serving a role similar to the foregoing, or any person holding power of appointment (general or limited) over trust property would be considered related to the individual or entity under items 1. or 2. above.

4.) Any other relationship which, while not specifically listed above, is determined to constitute an identity of interest because it is a relationship at least as close as an identity of interest described above or because it would permit an allocation that violates the intent of the ceiling.


    1. Notification of Approval

The applicant will be notified of AHFA’s decision in the form of a HOME Commitment Letter (the “Commitment”). The Commitment will outline actions by which owners, if they accept the terms, must abide. Failure to abide by the terms of the Commitment without AHFA’s written consent will terminate such Commitment.


    1. Progress Requirements After Commitment

From the date of the commitment, the applicant has the outlined time constraints in which to obtain the following items. AHFA may grant a thirty-day extension of certain items for a fee of $1,500. If the applicant requests a change from the original application, AHFA will charge a fee of $500 for each approved change. Each change will be charged separately even if submitted with multiple change requests in one letter. All fees are payable in advance. Failure to comply with any one of the items may cause the commitment to be automatically terminated:


  1. Within 30 days of the date of the Commitment, the applicant must:

    1. Submit the certificate of Existence from the Secretary of State (must be dated prior to the execution of the HOME Commitment);

    2. Submit the executed HOME Commitment acknowledging acceptance of the terms and conditions; and

    3. Submit the executed HOME Partnership Agreement acknowledging acceptance of the terms and conditions.




  1. Within 90 days of the date of the Commitment Letter, the applicant must:

Submit a legally binding commitment for construction and permanent financing which details the specific terms of funding and repayment and is not subject to further approval of the creditor’s board or credit committee.



  1. Within 105 days of the date of the Commitment Letter, the applicant must:

  1. Provide stamped plans and specifications.

  2. Provide a site specific soils report.

  3. Provide an ALTA/ACSM Certified Survey.

  4. Provide standard AIA form of agreement between owner and architect.

  5. Provide the utility letters.




  1. Within 135 days of the date of the Commitment Letter, the applicant must:

    1. Provide certified organizational documents.

    2. Provide construction cost estimate summary.

    1. Provide detailed construction schedule.

  1. Provide standard form of agreement between owner and contractor (AIA form).




  1. Within 165 days of the date of the Commitment Letter, the applicant must:

  1. Submit a copy of lender’s executed construction note or agreement.

  2. Take full possession of the site as evidenced by the warranty deed.

  1. Provide original recorded Declaration of Land use Restrictive Covenants.

  2. Submit a copy of the building permit.

  3. Provide proof of construction commencement evidenced by copy of Owner’s Notice to Proceed to project’s General Contractor (AHFA form).

  4. Submit Recertification of Real Property Acquisition Form.

  5. Submit Title Insurance Policy.



  1. Within 90 days after the project is placed in service, the owner must provide AHFA with the Actual Cost Certification package.


Construction on the project cannot begin until a pre-construction conference has been held with AHFA.


    1. Negative Action After Commitment.

Should the following actions occur, the Commitment of HOME funds may be terminated:

1.) Site change;

  1. Change in ownership--a change in the parties involved in the ownership entity (e.g., addition of a new general partner/member or removal of an existing general partner/member) without prior written consent of AHFA. Examples of situations in which consideration may be given for a change in ownership include, but are not limited to: death or bankruptcy. Any person or entity, including syndicators, that attempts to circumvent this requirement, may be subject to debarment from all AHFA programs;

  2. Change in syndication structure--a change in the role of the syndicator or in the distribution of funds/allocation to others through syndication as stated in the application without prior written consent of AHFA;

  3. Change in unit design, square footage, unit mix, number of units, number of buildings, etc. (unless changes are required by local regulatory codes);

  4. Change in the general contractor without prior written consent of AHFA;

  5. Change in the management company without prior written consent of AHFA;

  6. Change in the architect without prior written consent of AHFA;

  7. Instances of excessive or flagrant non-compliance on applicant’s existing projects;

  8. Any staff or development team member (listed in the application) who has instances of excessive or flagrant non-compliance with AHFA, Housing Credit, HOME, or Tax Exempt regulations on existing projects;

  9. Any staff or development team member (listed in the application) who is presently debarred, suspended, proposed for debarment or suspension, declared ineligible or voluntarily excluded from any transactions or construction projects involving the use of federal funds or Housing Credits;

  10. Applicant has a project with AHFA that is in foreclosure or has been foreclosed; and/or

  11. Any material adverse change relating to the project or owner.

  12. Any AHFA fee returned due to insufficient funds.


The above list of negative actions is not all-inclusive. The Commitment letter itself will list other necessary requirements. AHFA may terminate the Commitment if any factual information supplied in connection with the project is fraudulent, misleading, or materially incorrect. Determination of whether information is fraudulent, misleading, or materially incorrect will be determined by AHFA in its sole discretion.


    1. Change in or Denial of HOME Allocation

The evaluations listed in Section IV (E)(2) of the HOME Action Plan may result in a possible change in the amount of HOME funds allocated to a project or denial of the total allocation altogether due, but not limited to, one of the following reasons:


  1. Information in the application submitted is determined to be incorrect or fraudulent;

  2. Conditions in the Commitment Letter are not met;

  3. Changes in the actual cost of the project;

  4. Applicant obtains additional subsidies or financing other than those disclosed in the application; and/or

  5. Applicant’s failure to notify AHFA promptly of any material or adverse changes in the original application. Material or adverse changes include, but are not limited to, applicant’s loss of site control, rights of way, ingress and egress, adverse change in the financial condition of the applicant, and applicant’s inability to perform tasks proposed in the application by the deadline set by the applicant and further set or agreed to by AHFA.




    1. Disclosure

AHFA will attempt to request all information necessary to make informed decisions regarding HOME allocations. Therefore, it is in the best interest of everyone concerned with the process to disclose completely and accurately all information regarding each proposed project. AHFA acknowledges that errors and misjudgment sometimes occur and simply requests that the applicants notify AHFA of any errors that may occur upon discovery.


V. POINT SCORING SYSTEM

Through the point scoring system, AHFA will award points to projects that best meet the identified housing priorities for the State.


The point scoring system will rank each project in two sections (Points Gained and Points Lost). The ranking of the project will be determined by taking the Points Gained section and deducting the Points Lost section to get an overall project score. The point scoring system will largely determine which projects should be funded.


AHFA has established a housing priority of balanced distribution of HOME funds throughout the state in terms of geographical regions, counties, urban, and rural areas. AHFA will achieve this priority by allocating HOME funds in the following manner:

      • In all circumstances, only one new construction project targeting the family population will be selected for funding per county.

  • In all circumstances, only one new construction project targeting the elderly population will be selected for funding per county.


Tier 1 Funding Selection Procedures:

        1. The highest scoring project per county with ownership by an AHFA approved CHDO will be funded until the regulatory 15% CHDO set-aside has been met.

        2. The highest scoring HOME project per county will be funded (counties already funded by CHDO applicants will not be funded) until all HOME funds have been allocated.


All projects (except CHDO applicants) must score a minimum of 120 points to be considered for funding in Tier 1.


If AHFA has not allocated all HOME funds, AHFA will allocate them in the following manner:


Tier 2 Funding Selection Procedures:

The highest scoring new construction project per county will be selected for funding subject to the following restrictions:

  • New construction projects must target a different population (elderly versus family) than a project that was previously selected for funding in the same county.



In all circumstances, AHFA will not fund more than one project in a county unless there is a market for more than one project in that county.


Projects with a net score of less than 95 points (Points Gained less Points Lost) will not be considered for funding based on project score.


New Construction projects located in Clarke County will not be considered for funding.


AHFA will consider new construction projects in Baldwin County with the following restrictions:


    1. The project is not located in the city limits of Robertsdale or the projects primary market area is from the Robertsdale area.

    2. The project is not located in the city limits of Bay Minette or the projects primary market area is from the Bay Minette area.

    3. If the project is located in the Daphne, Spanish Fort, or Fairhope city limits or the projects primary market area includes these cities, the project must target the elderly population. Family projects will not be considered.


Regardless of strict numerical ranking, the scoring does not operate to vest in an applicant or project any right to a reservation or commitment of HOME funds in any amount. AHFA will, in all instances, reserve and commit HOME funds consistent with sound and reasonable judgment, prudent business practices and the exercise of its inherent discretion.


In the event of a tie between two or more applications the projects will be ranked in the following order to break the tie:

      1. The application located in a county that has not received funds in the current cycle by a higher scoring application or CHDO will be funded until the regulatory fifteen percent (15%) CHDO requirement is met.



      1. AHFA will fund the project that has the least amount of participation by the owner in approved Housing Credits and HOME/Housing Credits (combined) projects in the current cycle. Any percentage of ownership reflected on the AHFA provided ownership forms will be considered participation.



      1. AHFA will fund the project located in Qualified Census Tract and that has a Revitalization plan.



      1. AHFA will fund the project that is intended for eventual tenant ownership. The project must consist of single-family homes, duplexes, or townhomes to be eligible. The applicant must complete the AHFA provided Homeownership Conversion Proposal and provide a plot plan.




      1. AHFA will fund the project that has the earliest submission date as evidenced by the time and date stamped by AHFA. Applications that are submitted by 11:00 a.m. on the first day of the application cycle will be entered into a drawing. The drawing will be held as soon as practical in AHFA’s boardroom that same day to determine the order of funding in the event of a tie. An impartial person will be selected to draw. The drawing will be open to the public and the results will be posted on AHFA’s website.



AHFA reserves the right to deny a HOME funds reservation to any applicant or project, regardless of that applicant’s point ranking if, in AHFA’s sole determination, the applicant’s proposed project is not financially feasible or viable. Additionally, AHFA may recommend that a HOME commitment be awarded out of the ranking order established by the points earned, based on the amount of HOME funds needed relative to the amount of funding available or the financial feasibility and /or viability of the project.


Under this 2012 HOME Action Plan, HOME funds will be awarded for new construction only.


In addition, HOME funds will be awarded only in combination with Housing Credits. Therefore, for purposes of consistency in scoring, the scoring system set forth below for HOME funds is identical to the scoring system being utilized by AHFA for Housing Credits. However, because Housing Credits may be used either for new construction or acquisition/rehabilitation, the scoring system includes points for acquisition/rehabilitation that cannot be funded with HOME funds.


Applicants for HOME funds will not be eligible to receive the points in the scoring system below relating to acquisition/rehabilitation. Those points will be available solely to Housing Credits only projects. To minimize confusion, the points that are inapplicable to HOME fund applicants have been identified with a “strike-through” typeface.


A. POINTS GAINED

  1. Project Characteristics (Maximum 124 Points)




    1. Type of Construction (Maximum 45 Points)




      1. A maximum of 25 points will be given to projects which provide extra unit/project amenities. Refer to the application for distinction between an extra amenity and a required amenity.


Points will be awarded for providing the following amenities.

Only the amenities listed below will be eligible for points.


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