FORMS LIBRARY

Search our library of ADFA Housing Forms and Applications.

Home Investment Partnerships Program

guidance manual for designing & constructing inclusive, functional dwellings

All owner-occupied applications for ADFA HOME Investment Partnership Funds must use these instructions for submission in the required format. Your application submission and acceptance for full review will be evaluated using both Part I and Part II application checklists. Answer all questions. If not applicable to your project or activity, mark "NA”. Please do not submit a handwritten application. Incomplete applications will be returned and may result in disqualification.

The information collected will be used to determine whether you qualify as a borrower under The State of Arkansas HOME Investment Partnerships Program.

In releasing this Notice of Funding Availability (NOFA), ADFA’s goal is to facilitate the rehabilitation of low income Arkansans primary residence. To meet this goal, ADFA will provide grants to the homeowner via a Sub-recipient.

In releasing this Notice of Funding Availability (NOFA), ADFA’s goal is to facilitate Community Development Housing Organizations (CHDO) to provide safe, sanitary, and affordable housing solutions to low income Arkansans.. To meet this goal, ADFA will provide loans or grants depending on the type of activity to CHDO’s.

In releasing this Notice of Funding Availability (NOFA), ADFA’s goal is to facilitate the new construction of single-family homes for low income buyers. To meet this goal, ADFA will provide loans to Developers and direct subsidy to the home buyer.

General Information: The National Housing Trust Fund (“NHTF”) annual allocation to ADFA, (“Grantee”) by the NHTF, for production of affordable rental housing in Arkansas specifically for Veterans who meet the HUD Income Guidelines for Extremely-Low-Income (ELI). The services provided by your organization (“Eligible Recipient”), will be in accordance with all applicable program regulations and policies under the direction of ADFA and NHTF. It is the intent of ADFA to select applicants who will advise and consult with ADFA staff and carry out services listed in “Scope of Services and Requirements”.

In releasing this Notice of Funding Availability (NOFA), ADFA’s goal is to facilitate the new construction, acquisition and/or rehabilitation of multi-family complexes for low income renters. To meet this goal, ADFA will provide loans to Developers.

Single Family

Learn step by step how to make a loan reservation, upload pre-closing & post closing documents/conditions into ADFA's MITAS System.

This is a PDF of ADFA's new lender training PowerPoint presentation.

The ADDI program utilizes HUD funds which requires an HQS inspection. You can now pick and work with your preferred inspector. Here's how.

This is a one page printable flyer about the ADFA Mortgage Credit Certificate (MCC) Program.

This is a one page printable flyer with brief descriptions about all of ADFA's homeownership programs

***PLEASE NOTE: We are accepting reservations for the Government programs. Please see the attached Legal Opinion Letter that is required by U.S. Department of Housing and Urban Development Mortgagee Letter 2019-06 regarding ADFA’s down payment assistance programs. Please keep a copy of this in your files and we will also be attaching this to every awards letter.

Low Income Housing Tax Credit

The Multifamily Housing Application ("Application" or "MFHA") can be used for multiple housing funding sources available from Arkansas Development Finance Authority ("ADFA" or the "Authority"). However the primary use is for developments applying for the Low Income Housing Tax Credit ("LIHTC" or "Housing Credit").

The Arkansas Development Finance Authority ("ADFA" or the "Authority") is charged with the responsibility of administering the federal low‐income housing credits ("Housing Credits") for the State of Arkansas (the "State"). ADFA is also charged with the responsibility of promulgating rules and regulations concerning the allocation of the Arkansas low‐income housing tax credit (the "State Housing Credits") pursuant to Ark. Code Ann. §26‐51‐1701 et seq. The Tax Reform Act of 1986 created the Housing Credit to encourage the private sector to invest in the construction and rehabilitation of rental housing for low and moderate‐income individuals and families (IRC Section 42) . The Revenue Reconciliation Act of 1989 amended IRC Section 42(m) that requires allocating agencies to allocate low income housing tax credits pursuant to a Qualified Allocation Plan ("QAP").

National Housing Trust Fund "NHTF"

ADFA has completed a draft amendment to the NHTF Program Operations Manual and hereby presents the draft for public review and comment. The comment period will extend for thirty days beginning July 8, 2019. Public comments will be considered for inclusion in the Amendment to the NHTF Operations Manual.

This NOFA is open indefinitely or until all funds are awarded. Written proposals responding to the questions and requests for information in the manner specified in this NOFA should be submitted to the following: nofa@adfa.arkansas.gov To be considered, one (1) copy of the proposal should be delivered to ADFA via email only. ADFA reserves the right to reject any or all proposals.

FINANCE ADJUSTMENT FACTOR ("FAF") AND BELOW MARKET INTEREST RATE PROGRAM

Financing Adjustment Factor ("FAF") / Below Market Interest Rate Funds, when available, are intended to fill gaps in a development's budget to ensure affordability of FAF-assisted housing units for very low income families. Applications must contain a minimum of 5 units.

Compliance and Monitoring

Rental Housing Projects funded with ADFA Housing Funds must report tenant data through ADFA’s Tenant Data Reporting Software as monthly changes occur. Management agents will be given access to upload and maintain the tenant data.

Note trust accounts can be income or assets.

Used by manager to show real estate calculations.

Suggest also printing up values from zillow.com or trulia.com.

Use to verify whole or universal policies. Term accounts have no cash value and do not count as assets.

Use this to verify mutual funds, annuities, IRA, 401K, etc.

Use this to verify bank accounts such as savings, checking, CD.

This can be used by a 3rd party making payments.

Use to verify child support or alimony through the court system.

Use this for anyone who receives income as a business owner, independent contractor, sole proprietor, cash pay, odd jobs, etc.

Use this to verify ongoing cash contributions or for recurring contributions for things such as rent payments, utility payments, etc.

Use this when annualized YTD pay does not closely match projected pay data provided by employer.

Used by manager to document file with efforts to obtain 3rd party verification.

Revised in 2012 as a fillable form with additional questions.

Use to obtain medical verification for the need of a live in aide.

Used by a tenant with a live in aide. Make sure to also obtain medical verification of this.

Use for anyone divorced, separated, widowed, or estranged from their spouse.

Use for any child not living with both biological or adoptive parents to help establish income and student eligibility.

Use this for any tenant employed in a seasonal capacity.

Use this for any adult tenant with no job. Note form was revised in 2013 with added questions.

Use this for any adult tenant with no reported income.

Tax credit only form.

Use for all college/university students.

All adult members of household complete and execute (tax credit only form).

Replaces interview checklist and recert questionnaire. This form should be used when completing tenant re-certifications to assist with documenting any changes to the household instead of using the 8 page application every year. (The 8 page application is still required at move-in).

Use to document information obtained verbally or to explain any unusual circumstance in the file.

Use this form to create a record of your income and rent limits along with the income and asset calculations for each household.

$500 change fee is required and all required documents listed in this form must be provided with this request.

Low Income Housing Tax Credits Only - Please note ADFA must approve all project changes prior to the change being made by the owner. If a change has been implemented prior to ADFA's approval the change fee will be $1000 unless there has been an emergency circumstance beyond the owners control.

Housing Regulations

"DRAFT" of the Substantial Amendment to the Arkansas State Consolidated Plan and the 2016 Annual Action Plan for the State of Arkansas, administration of the National Housing Trust Fund. The State of Arkansas has received notice that it will receive $3,000,000 in National Housing Trust Fund grant funds from the U.S. Department of Housing and Urban Development for the 2016 Grant Year. These funds will be administered by the Arkansas Development Finance Authority.

July 1, 2014 - June 30, 2015

Reporting Period July 1, 2013 through June 30, 2014

Entrepreneur Fee Waiver Pilot Program

ADFA supplies applications for the Entrepreneur Fee Waiver Pilot Program created under Act 857 of 2017 at the request of the Arkansas General Assembly. Download the attached fillable PDF for more information.

Arkansas Risk Capital Matching Fund

ADFA Co-Investment Fund

Requests for Proposals

The Arkansas Development Finance Authority (“ADFA” or the “Authority”) is charged with the responsibility of administering federal low-income housing tax credits (“Housing Credits”) for the State of Arkansas (the “State”). ADFA is also charged with the responsibility of promulgating rules and regulations concerning the allocation of the Arkansas low-income housing tax credit (the “State Housing Credits”) pursuant to Ark. Code Ann. § 26-51-1701 et seq. The Tax Reform Act of 1986 created the Housing Credit to encourage the private sector to invest in the construction and rehabilitation of housing for low and moderate-income individuals and families. Section 42 of the Internal Revenue Code of 1986, as amended (“IRC” or the “Code”), mandates that housing credit agencies adopt a Qualified Allocation Plan (“QAP”) for allocation of the Housing Credit to low-income rental developments throughout their respective states. Low-income housing tax credits shall be allocated in accordance with this plan or any amendments thereto. Part of the QAP addresses the need for an Independent Market Study when dealing with rehabilitation developments and tax-exempt bonds. The requirement for an independent market study is detailed in the 2019 QAP, Section I(C)(6) and I.R.C. Section 42(m)(1)(A)(iii). ADFA would like to solicit proposals from qualified firms to provide the described market studies. Any firm selected pursuant to this RFP shall serve at the pleasure of ADFA, and the professional services of any firm selected may be terminated at the sole discretion of ADFA upon delivery of written notice of such termination to the firm. ADFA reserves the right to select one or more firms to serve as the market study provider. Any firm selected pursuant to this RFP shall serve at the pleasure of ADFA, and the professional services of any firm selected may be terminated at the sole discretion of ADFA upon delivery of written notice of such termination to the firm.

Request for Proposals Archive

The Arkansas Development Finance Authority (ADFA) is requesting proposals from investment banking firms to serve as senior underwriter for the financing of the Authority's Economic Development Revenue Bond Program. Bonds issued by ADFA will be guaranteed by the ADFA Bond Guaranty Program or the Arkansas Economic Development Commission (AEDC) Bond Guaranty Program.

The Arkansas Development Finance Authority (“ADFA”) seeks proposals from qualified firms to develop a Policies and Procedures Manual for the HOME Investment Partnerships Program (“HOME Program”), a program of the U.S. Department of Housing and Urban Development (“HUD”). The successful firm must demonstrate direct experience providing expertise, consulting services, and technical assistance in all aspects of the HOME Program. Expertise in any of the other federal requirements set forth in 24 CFR 92.350 through 24 CFR 92.358 will be viewed as an added benefit.

ADFA Financial Information

RENTAL HOUSING DEVELOPMENT

Notice of Funding Availability

This NOFA is open indefinitely or until all funds are awarded. Written proposals responding to the questions and requests for information in the manner specified in this NOFA should be submitted to the following: nofa@adfa.arkansas.gov To be considered, one (1) copy of the proposal should be delivered to ADFA via email only. ADFA reserves the right to reject any or all proposals.

Deadline for submitting applications for the January 2019 Multi-Family/Rental Notice of Funds Availability (NOFA) has been extended to February 25, 2019. We will accept questions about this NOFA until February 18, 2019.

One (1) Application on ADFA forms (electronic submissions only) must be submitted to ADFA along with all supporting documents. The Application may be submitted anytime on or after January 21, 2019 at 8:00 a.m., but no Applications will be accepted after January 25, 2019 at 2:00 p.m. All Applications must arrive at ADFA by the date and time indicated in order to be considered.

One (1) Application on ADFA forms (electronic submissions only) must be submitted to ADFA along with all supporting documents. The Application may be submitted anytime on or after January 15, 2019 at 8:00 a.m., but no Applications will be accepted after January 28, 2019 at 2:00 p.m. All Applications must arrive at ADFA by the date and time indicated in order to be considered.