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Alabama Housing Agency Nears Cap, Pauses Tax-Exempt Bond Applications

Monday, December 19, 2022 - 2:30PM

The Alabama Housing Finance Authority (AHFA) announced today it will stop taking applications for multifamily tax-exempt bonds until further notice after reaching its annual cap. Alabama has a bond cap of $138.6 million for 2022 and as of Nov. 30, the state issued $126 million in bonds, with four projects in the multifamily bond pipeline. Tax-exempt private activity bonds (PABs) are paired with 4% low-income housing tax credits (LIHTCs) to finance affordable housing.

A recent Notes from Novogradac blog post details the latest on PAB issuance around the nation.

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