Affordable Housing Programs
ADFA offers a number of programs to support the construction and preservation of affordable housing in Arkansas.
Rental Housing Development Programs
ADFA currently monitors approximately 450 apartment complexes that contain over 20,000 affordable rental units across Arkansas.
National Housing Trust Fund
These funds are made available to ADFA from the **National Housing Trust Fund (NHTF)**, a federal program funded by the Department of Housing and Urban Development (HUD), established under Title I of the Housing and Economic Recovery Act of 2008, Section 1131 (Public Law 110-289), to complement existing federal, state and local efforts to increase and preserve affordable housing under its FY 2016-2018 National Housing Trust Fund Program. This was approved by the ADFA Board of Directors in 2016, 2017 and 2018. Applicants must be licensed to do business in Arkansas, and may serve any community in Arkansas.
ADFA Offers $7,500,000
Available from National Housing Trust Fund For Construction of Rental Housing For Extremely Low-Income (ELI) Veterans
ACCEPTING APPLICATIONS NOW
ELI is defined as households with incomes of 30% of area median income (AMI) or below the poverty line (whichever is greater). Preference will be given to ELI Veterans:
- With special needs,
- Who are homeless or may become homeless,
- With mental health issues, and/or
- Vets who are leaving correctional facilities.
- ADFA will award these funds as forgivable grants to recipients whose proposed developments are approved for funding.
- The grant will remain a forgivable grant, as long as the development remains in compliance with ADFA and NHTF requirements for the entire affordability period: thirty (30) years.
Definition of Veteran: Under Title 38 of the Code of Federal Regulations, a Veteran is defined as a person who served in the active military, naval, or air service, and who was discharged or released under conditions other than dishonorable.
Who is an Eligible Recipient? An eligible recipient is an organization, agency, or other entity (including a public housing agency, or a for-profit entity or a nonprofit entity) that receives NHTF assistance from a grantee as an owner or developer to carry out an NHTF-assisted project.
Compliance and Monitoring
ADFA is designated as Arkansas' Low Income Housing Tax Credit, (LIHTC) compliance monitoring agency. Crucial elements of compliance ensure that the appropriate number of tax credit units have been occupied by eligible households, following income eligibility guidelines and restricting rents over a specified time period. ADFA also monitors to ensure LIHTC properties are decent, safe, sanitary, and in good repair. ADFA is available to provide guidance to owners in maintaining continuous compliance with federal and state LIHTC guidelines throughout the compliance period.
In addition to monitoring the LIHTC Program there are also several housing programs funded by ADFA that require monitoring. ADFA has a Tenant Data Tracking Software Program to assist with the compliance and monitoring for each program. The software and the tenant data that is uploaded is critical for property owners to maintain compliance as well as assisting ADFA in reporting LIHTC tenant data to HUD annually.
Click LINK to access the Tenant Data Reporting Software. For more information about the Tenant Data Reporting Software please contact Jeanne Johnson, Compliance Department at 501-682-5936.
If you should have any questions regarding Housing Compliance and Monitoring please contact Tammy White, Compliance Manager, at 501-682-5928.