August 2021
Benefits of Applying for Multifamily Housing Revenue Bonds as a Funding Source
Interested in Multifamily Housing Revenue Bonds as a source of funding? Read on to find out why they are a useful option.

  1. Not subject to the Competitive Application Cycle: Multifamily Housing Revenue Bond applications are accepted on a first-come, first-served basis. They do not compete with other applications during the competitive Application Cycle for Housing Credits, HOME funds and National Housing Trust Funds (HTF).
  2. Finance multiple projects in one transaction: Multiple projects may be “pooled” together under one bond issue to help mitigate the bond costs.
  3. Access soft (gap) funding sources subject to eligibility: New construction Multifamily Housing Revenue Bond applications may be eligible to apply for HTF and HOME funds as additional sources of funds.
  4. Not limited to the states per capita credit pool: If at least 50% of the project’s aggregate basis (land plus depreciable basis) is financed by tax exempt bonds, the project qualifies for the 4% tax credit.

For more information about Multifamily Housing Revenue Bonds, contact Chris Hert at chert@ahfa.com.
COVID-19 IRS Guidance on Common Areas & Amenities
In response to the COVID-19 pandemic, the IRS issued Notice 2021-12. Section V. C. of this notice allowed a temporary unavailability or closure of common areas and amenities in response to the COVID-19 pandemic for the period of April 1, 2020 to September 30, 2021.

To date, the IRS has NOT issued an extension of this temporary waiver.

If you have any questions, please email MFcompliance@ahfa.com.
Alabama Housing Finance Authority | www.AHFA.com