Workforce Housing Tax Credit Program
Forecasted
The Workforce Housing Tax Credit Program by Alabama Housing Finance Authority supports new affordable rental housing for low-income workers in Alabama's job growth areas, emphasizing rigorous standards and community impact.
Funder: Alabama Housing Finance Authority
Due Dates (Anticipated): January 2027 (Application) | September 2027 (Notice of Intent Log) | September 2027 (Notice of Intent Package)
Funding Amounts: Up to $5,000,000 in state tax credits per annual cycle; individual project cap of $2,000,000 per cycle; duration and total allocation subject to annual policy.
Summary: Alabama state tax credits to support new affordable rental housing for low-income workers near job growth areas.
Key Information: All dates are projected; program aligns with federal Section 42 and has strict eligibility and documentation requirements.
Description
The Alabama Workforce Housing Tax Credit Program provides state tax credits to incentivize the development of affordable rental housing for low-income households in areas experiencing workforce expansion. Administered by the Alabama Housing Finance Authority (AHFA), the program aims to increase housing availability for working families near economic growth centers. The program operates under a policy framework aligned with federal Low-Income Housing Tax Credit (LIHTC) Section 42, with additional state-specific requirements and priorities, including rural and economic development area set-asides and project selection based on a competitive point system.
