AHFC Announces Funding for Statewide Rental Unit GOAL Grants
ANCHORAGE, AK--(Marketwire - Dec 27, 2011) - Alaska Housing Finance Corporation (AHFC) yesterday announced its annual Greater Opportunities for Affordable Living (GOAL) grants that will be awarded to five communities statewide for developing and preserving 174 affordable rental units for low-income and senior Alaska families. The GOAL program provides grants, federal tax credits and zero-interest loans to project sponsors who build or renovate affordable rental and supportive housing for low-income, senior families and those with disabilities, as well as rental housing that helps reduce homelessness.
The five projects are in Anchorage, Fairbanks, Seward, Sitka and Soldotna.
- The Lumen Family project in Anchorage is sponsored by Volunteers of America National Services (Alaska) and includes construction of 66 low-income townhouse-style units, a community building and an on-site social services coordinator.
- Raven Landing Phase III in Fairbanks is a 20-unit senior development sponsored by the Retirement Community of Fairbanks and includes construction of 11 units for seniors with disabilities.
- Sitka's Sawmill Creek acquisition and rehabilitation project, sponsored by GMD Development, combines three separate properties into one rental development that provides 56 units for low-income families.
- In Seward, Kimberly Court, also sponsored by GMD, is another acquisition and rehabilitation project that will improve 24 units.
- Hillcrest Manor Phase II in Soldotna, sponsored by Kenai Peninsula Housing Initiatives, is a new construction development that will result in eight rental units for low-income families.
The 2012 program generates more than $28 million in construction equity, which will be leveraged to complete $45.2 million in development activities.
"We're very pleased with the 2012 program, especially the number of applications received and how efficiently we managed to process them. AHFC is looking forward to next year's GOAL competition, which opens late spring," Dan Fauske, AHFC CEO and Executive Director said.
Interested applicants should go to www.ahfc.us for more information.
AHFC is a self-supporting public corporation with offices in 16 communities statewide. It provides statewide financing for multi-family complexes and single-family homes, with special loan options for low- to moderate-income borrowers, veterans, teachers, health care professionals, and those living in rural areas of the state.
AHFC also provides energy and weatherization programs, low-income rental assistance in 17 communities, and programs for the homeless and those seeking to become self-sufficient. AHFC has contributed more than $1.9 billion to Alaska's state budget revenues through cash transfers, capital projects and debt-service payments.
Posted: December 28, 2011