AHFC Awards $34.5 Million to Generate $62.7 Million of New and Upgraded Housing

Anchorage, Thursday, April 03, 2008 – Alaska Housing Finance Corporation (AHFC) on March 27 awarded $34.5 million in grants and federal tax credits to communities across the state, which will generate $62.7 million in new housing for Alaskans. The $34.5 million from AHFC will be combined with $28.2 million in loans, sponsor contributions and grants from other agencies and foundations to fund both new construction and renovation.

As part of AHFC’s Greater Opportunities for Affordable Living (GOAL) program, the funds are designated for housing for seniors, low-income families and persons with disabilities.

AHFC is committed to increasing the number of affordable housing units in Alaska; the corporation is contributing $4.8 million in corporate receipts to this year’s awards. AHFC also administers a number of federal housing assistance programs and works with numerous federal and state agencies to provide incentives for statewide housing development.

Governor Sarah Palin commended the announcement, recognizing the teamwork of the government agencies, businesses, non-profits and communities involved. “The challenges of providing affordable housing in Alaska can be formidable. Yet programs like these help meet those challenges, working to lower housing costs and assist those most in need,” Governor Palin said. “These groups are working together to help Alaskans across the state find a safe place to call home.”

In addition to partnerships with numerous organizations, AHFC works throughout Alaska to balance urban, rural, and regional needs. AHFC also strives to create a variety of affordable housing options with funds from the Denali Commission, HUD’s HOME Investment Partnership program, IRS tax credits, and AHFC’s Senior Citizens Housing Development Fund, which encourage rental housing. Projects receiving grants for 2008: more info

“It’s not too early for communities and organizations to start thinking about the next cycle of money for multi-family housing units for low-income families, seniors and Alaskans with special needs,” said Dan Fauske, AHFC CEO/Executive Director. Competition for the 2009 awards opens in August.

“AHFC stands ready to help organizations put together their applications,” Fauske said.

“We can explain the rules and process for the various funding programs. I recommend anyone who’s interested to start with AHFC’s website (www.ahfc.us) for details and contact
information.”

AHFC is a self-supporting public corporation with offices in 16 communities statewide.

It provides statewide financing for multi-family complexes, congregate facilities, and single-family homes, with special loans for first-time home buyers, low- and moderate-income borrowers, veterans, teachers, nurses, public safety officers, and those living in rural areas of the state. AHFC also provides energy and weatherization programs, low-income rental assistance in 17 communities, and special programs for the homeless. Since 1986, AHFC has contributed more than $1.5 billion to Alaska’s State budget revenues through cash transfers, capital projects and debt service payments.

For more information on the housing awards, contact Mark Romick, AHFC Director, Planning & Program Development, (907) 330-8274 or mromick (at) ahfc.state.ak (dot) us

For more information on AHFC, contact Sherrie Simmonds, Corporate Communications Officer, (907) 330-8447 or ssimmond (at) ahfc.state.ak (dot) us