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.

TAX EXEMPT MULTI-FAMILY HOUSING BONDS

The Arkansas Development Finance Authority (ADFA) has as one of its primary purposes the creation and preservation of affordable, rental housing for low and moderate income persons. ADFA has available volume cap for reservation in the issuance of tax-exempt bond authority to provide financing to private developers for the development of multi-family, rental housing. In return for receiving below market interest rate financing, the developer is required to set aside units in the development for low and moderate income families and persons. The reservation of volume cap in the tax-exempt bond multi-family housing program is intended to encourage the creation of new rental housing units as well as the rehabilitation of existing rental units.

Contact Our Team

BEN VAN KLEEF

Vice President
Legal and Tax Division

5016825927

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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
 Susan Gardner, Compliance Manager, at 501-682-5931.