Contact: Charla Jackson Peter
(502) 564-7630, ext. 454
Kentucky Housing Corporation has announced the latest round of
funding from the Affordable Housing Trust Fund (AHTF), HOME Investment
Partnerships (HOME) Program, Small Multifamily Affordable Loan (SMAL)
Program and Low Income Housing Tax Credits (Housing Credits). Sixteen
recipients around the state will receive nearly $9 million to fund
housing developments in their communities and produce approximately 631
units of affordable housing. The list of recipients is attached.
“Because housing is a basic human need,” said Governor Ernie
Fletcher, “we are thankful for these funds to help us create more
affordable housing for Kentuckians in need.”
The AHTF was established in 1992 by the Kentucky General Assembly
without a permanent funding source to address the critical housing needs
of very low-income Kentuckians, including the mentally and physically
disabled and those on the verge of homelessness. The 2006 Kentucky
General Assembly passed legislation designating mortgage-related county
clerk document recording fees as a permanent funding source for the
AHTF. The fund supports developments that assist persons at or below 60
percent of the area median income with a preference to help persons at
or below 30 percent of the area median income.
Created by the National Affordable Housing Act of 1990, the HOME
Program provides funding for various types of affordable housing
production and rehabilitation. HOME is the largest federal block grant
program designed exclusively to create affordable housing for low-income
households. The program’s flexibility empowers agencies and
communities to design and implement programs tailored to their own needs
and priorities. Its emphasis on consolidated planning expands and
strengthens partnerships among all levels of government and the private
The SMAL Program was created to increase the supply of affordable
rental housing in Kentucky. With SMAL, construction financing loans are
offered to developers at extremely low rates, enabling them to build
rental housing of 11 units or less at lower costs, thereby making it
affordable for Kentuckians with limited incomes.
The program is extremely flexible and can be combined with other Kentucky Housing financing to reach lower-income families.
Housing Credits, administered in the state by Kentucky Housing
Corporation, was introduced as part of the Tax Reform Act of 1986 to
promote the development of low-income rental housing through tax
incentives. The program offers eligible property owners a ten-year tax
credit for each unit rented by low-income families. These credits will
generate approximately $60 million in equity that will be used by these
For more information about the AHTF, HOME Program, SMAL program or
Housing Credits, contact Tammy Stansbury toll-free in Kentucky at (800)
633-8896 or (502) 564-7630, extension 411; TTY 711; or email
Kentucky Housing Corporation, the state housing
finance agency, was created by the 1972 General Assembly to provide
affordable housing opportunities. As a self-supporting, public
corporation, Kentucky Housing offers lower-than-market rate home
mortgages, housing production financing, homeownership
education/counseling, rental assistance, housing rehabilitation and
supportive housing programs for special needs populations.
Kentucky Housing Corporation prohibits discrimination
in employment based on race, color, religion, sex, national origin,
sexual orientation, gender identity, ancestry, age, disability or
Kentucky Housing CorporationAHTF, HOME, SMAL and HC Recipients
# of Units
Audubon Area Community Services Inc.
The Learning Villa Scholar House
The Community Builder, Inc.
Clarksdale Rental Phase IV
Faith Community Housing, Inc.
Faith Community Housing Foundation 2007 Project
Franciscan Sisters of Chicago Service Corp.
Franciscan Senior Estates
Georgetown Affordable Housing, Inc.
The Villa at Lemons Mill
The Healing Place, Inc.
The Healing Place
Housing Assistance and Development Services, Inc.
Bowling Green Scholar House
Lexington Home Ownership Commission
Bluegrass Aspendale, III
Oracle Consulting, LLC
Project Women, Inc.
Louisville Scholar House
Sage Development, LLC
St. Joseph Community Apts.
Schizophrenia Foundation Kentucky, Inc.
Wellspring Bridge Apts.
Hermes Avenue Permanent Housing
For more information, contact:
Kentucky Housing Corporation | 1231 Louisville Rd., Frankfort,
502-564-7630; 800-633-8896 (KY only); TTY 711