June 2020
Update to a Compliance COVID-19 FAQ
Last month, we shared several COVID-19 related FAQs compiled by Multifamily's Compliance Department. We have since received clarification from HUD on the question regarding how to calculate stimulus and CARES Act unemployment income. See below for the updated information.

Q: How should the stimulus payment and additional CARES Act additional unemployment income of $600 per week be calculated?

A: Stimulus payments of up to $1,200 and the temporary $600 per week of unemployment insurance provided by the CARES Act should not be included in calculations of income. However, regular unemployment payments are to be included as income.

To read the rest of the FAQs, click here . If you have any compliance-related questions, send an email to mfcompliance@ahfa.com .
Multifamily Division CARES Act Implementation Steps
The Multifamily Division continues to monitor the ongoing COVID-19 pandemic and take actions necessary to be as responsive to our audiences as possible regarding operations.

Below are some of the actions we have taken:
  • Modifications have been made to the 2020 Plans and we will make pertinent changes to the 2021 Plans as well
  • We have made adjustments to the 2020 Application Cycle including:
  • Temporary suspension of site visits from March 16 through April 22
  • Once inspections resumed, interior inspections of units and common areas were discontinued and remain so until further notice
  • By early May, staff completed all site visits necessary for the 2020 application cycle
  • Temporary relief of the carryover 10 percent basis requirement has been extended to 8 developments and we continue to review requests

Staff continues to send out notices as things change in an effort to keep you updated. Find all COVID-19 related notices, as well as all other Multifamily Notices, at https://www.ahfa.com/multifamily/multifamily-notices.
Alabama Housing Finance Authority | www.AHFA.com