2016 Annual Report

Alaska Housing Finance Corporation

Alaskan Voices

ALASKANS FEELING GOOD ABOUT AHFC

Keeping track of how AHFC is perceived and how well it performs is important. In fall 2016, The McDowell Group interviewed 870 Alaskans representing four regions of the state to create a baseline for potential improvements going forward.

Overall, The McDowell Group says most Alaskans have a positive report. Sixty percent of those surveyed said they have a positive or very positive feeling about AHFC. The study indicates more work is required because 28 percent indicated having no knowledge of AHFC.

Among those who have heard of AHFC, the picture is promising. When asked to assess six value statements about AHFC, respondents gave the following feedback:

67 percent agree or strongly agree that AHFC is a trusted organization

61 percent agree that AHFC is a socially responsible organization

51 percent agree or strongly agree that AHFC is customer-service driven

46 percent considers AHFC loans competitive with other lenders

44 percent agree or strongly agrees that AHFC is the premier expert on Alaska housing

44 percent considers AHFC a well-managed organization

Among the survey sample, 12 percent had used AHFC’s programs in the past three years, and were asked to rate their satisfaction with the service and work received. HomeChoice™, AHFC’s free homebuyer education class, topped the list with a perfect 100 percent satisfaction score, and both the Home Energy Rebate and Weatherization programs scored above 90 percent.

Feeding the Hungry

TASTEFUL DEED FOR THE HOMELESS

AHFC continued its support for Bean’s Café in Anchorage and its mission to “feed the hungry and homeless without discrimination during the day” in FY16. Once a month, volunteers from AHFC go the facility during the lunch shift, serving on average more than 300 lunches to those in need.

Promoting Rural Housing

PROMOTING HOUSING IN RURAL COMMUNITIES

The Teacher, Health Professional and Village Public Safety Officer Program has been supporting construction of housing in rural areas since 2004. More than 400 units have been built making it easier for the communities to retain and recruit nurses, teachers and village public safety officers.

During the Alaska Federation of Natives annual conference at the Anchorage Dena’ina Center in October 2015 AHFC focused on displaying and promoting the role the agency plays in assisting in the work of building stronger rural communities.

AHFC shared booth space with the Association of Alaska Housing Authorities, one of the corporation’s partners.

LACK OF HOUSING TAKES CENTER STAGE

The New Year started with a strong focus on housing issues when Governor Bill Walker called for a housing summit. AHFC, together with a diverse group of 300 participants from the housing industry, were tasked with discussing and developing recommendations for how the State of Alaska can help ease the lack of housing statewide. The one day conference held on January 6 focused on eight specific areas:

 

  • Housing Affordability in Rural Alaska
  • Reducing Recidivism through Housing
  • Innovative Funding and Financial Options for Housing
  • Incentivizing Private Sector Housing Investments
  • Alaskans Experiencing Homelessness
  • Senior Housing
  • Veterans Homelessness
  • State Building Codes and Energy Efficiency Standards

 

  • A final report was produced and delivered to Governor Walker on April 14. To view the report visit http://bit.ly/1TEWns3.

 

The Governors Housing Summit was sponsored by Alaska Mental Health Trust, Cook Inlet Housing Authority, Alaska Coalition on Housing and Homelessness, University of Alaska Anchorage, Rasmuson Foundation and AHFC.

Awards

PRAISE FOR SMART USE OF TAX CREDITS

AHFC’s non-profit subsidiary, Alaska Corporation for Affordable Housing, received an Honorable Mention in the 2016 Novogradac Journal of Tax Credits Developments of Distinction Awards for its financial structure of the Low Income Housing Tax Credit development Ridgeline Terrace and Susitna Square.

 

AWARD WINNING COMMUNICATIONS

AHFC puts value on keeping staff and all Alaskans informed about its business; it received praise in FY16 for its stakeholder communications.

AHFC’s 2015 annual report “Navigating Alaska’s Housing Landscape” received an Award of Excellence for its second place in the category “Annual Reports” by PRSA’s Alaska Chapter. The project was created together with Spawn Ideas and Thompson & Co. @home, AHFC’s internal website, received a first place Aurora Award in the category “Internal Communications.” by Public Relations Society of America (PRSA) Alaska Chapter. The work was done in collaboration with Gere Donovan Creative.

 

 

45 Years in Alaska

WORKING FOR ALASKANS FOR 45 YEARS

AHFC celebrated its 45th birthday in 2016. AHFC was formed when the Alaska Legislature passed House Bill 167 on May 25, 1971. It was sponsored by then-Governor William Egan and created Alaska Housing Finance Corporation as a public corporation having a legal existence independent of and separate from the State. The purpose for AHFC was to provide affordable housing for low- and moderate-income residents. The legislation allowed for tax-exempt issuance of bonds to finance the purchase of mortgages on single-family dwellings.

During AHFC’s first two years of operation, the staff of just 10 provided nearly $10 million in conventional mortgages in 40 communities, along with financing a 98-unit apartment building in Juneau.

AHFC has come a long way since then but the mission of providing Alaskans access to safe, quality affordable housing has stayed the same.

In FY16, AHFC purchased 1,752 mortgages.

  • At fiscal year-end, the mortgage portfolio contained 14,939 loans representing $2.8 billion. Since 1986, AHFC has generated nearly $2 billion in dividends for the state.