Manager: Les Campbell, Budget Director
Tel: (907) 330-8356 Fax: (907) 330-8361

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To provide Alaskans access to safe, quality affordable housing.




Services Provided:
Provide, purchase, and/or participate in Mortgage Loan programs statewide:
Conventional loan programs;
First-time Home Buyer program;
Veteran loan programs;
Multi-family Housing programs;
Rural loan programs.

Manage, operate, and maintain Public Housing and Rental Assistance programs;
Administer the State's Senior Housing programs;
Administer the State's Weatherization programs;
Administer the State Energy Program (SEP);
Coordinate Alaska's Housing Strategy and Homeless programs;
Administer State and Federal housing grants;
Develop and modernize public housing;
Administer Low-Income Tax Credits;
Provide workshops and training (i.e. Home Choice, Grant writing, Energy, etc.);
Provide access to low cost capital.

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Increase housing and finance options for rural areas;
Define AHFC's role in meeting infrastructure needs;
Review and update existing regulations;
Review statutes and identify any needed changes;
Increase leveraging of housing-related grants and other resources from various federal sources;
Expand and promote family self-sufficiency.

Identify needs (existing gaps) and educate public;
Match needs to AHFC home ownership programs;
Streamline loan application process;
Identify supporting infrastructure needs in coordination with other housing professionals (inspectors, energy raters, etc.).



Increase special needs housing.

Work cooperatively with consumers, advocates and special needs service providers to identify and address needs;
Work with Alaska Mental Health Trust Authority in addressing the housing need of Trust beneficiaries;
Establish process and financing mechanisms to help address "reasonable accommodation" for persons with disabilities.



Expand partnerships to strengthen program and service delivery.

Strengthen relationships with regional housing authorities and other housing delivery organizations;
Plan and organize statewide housing conference;
Network with other agencies and non-profits for assistance.



Strengthen commitments to AHFC housing programs, functions, and benefits.

Strengthen cooperative relationships with governmental constituencies;
Strengthen cooperative relationships with public constituencies;
Develop and implement a public relations plan;
Promote jobs and employment in housing-related fields.



Promote operational excellence.

Strengthen staff knowledge and skills in addressing customer's special needs (environmental, cultural, economic, etc.);
Identify and implement new or improved work processes that benefit operations;
Utilize a mix of internal and external audit and feedback methodologies to measure and evaluate AHFC performance;
Develop and implement affirmative action plan;
Develop strategy to enhance customer service;
Identify survey mechanism most suitable for corporation purposes;
Modernize and rehabilitate corporate-owned and -operated public housing in accordance with the 10-Year Plan.



Manage assets to generate sufficient profit to meet AHFC's financial commitments.

Incorporate capital/grants budget levels into 6-year Plan;
Develop strategy to meet existing commitment for transfers to and financing for the benefit of the State;
Implement capital project bonding for the State;
Carry out AHFC's capital budget;
Prioritize AHFC financial and program obligations and commitments;
Formalize the process by which available and projected "arbitrage" is identified and allocated to specific programs.

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Fourth year in a row scoring 100% for HUD's Public Housing Management Assessment Program (PHMAP):
Vacancy Rate and Unit Turnaround Time
Modernization
Rents Uncollected & Tenants Account Receivable
Work Orders
Annual Inspection of Units and Systems
Operating Reserve & Financial Management
Resident Initiatives
Security

Received an Annual Award for Significant Achievement from the National Council of State Housing Agencies for Homeownership: Encouraging New Production, recognizing the Rural Initiative Housing Pilot Program;

Finished 45 units at Riverbend;

Received a STRONG ranking with STABLE outlook from Standard & Poor's Public Housing Authority Evaluation;

Developed, published, and distributed agency-wide missions and measures for results-oriented budgeting.

Received a design award from the Pacific Northwest Regional Council and Award of Merit from the National Association of Housing & Redevelopment Officials for landscaping improvements and playground equipment installed on a special surface at Etolin Heights in Wrangell;

Received a National Recognition Award from the U.S. Department of Energy for outstanding contributions to the Weatherization Assistance Program;

Received a National Award of Merit for Project Design from the National Association of Housing & Redevelopment Officials for the Cedar Park Affordable Housing Program in Juneau;

Received a 1999 HUD Best Practice Award for the Cedar Park Affordable Housing Program in Juneau;

Received a 1999 HUD Best Practice Award for the Supplemental Housing Development Grant Program;

Expanded our website to include more information and notices (programs, grants, jobs, workshops/classes, Y2K, etc.), applications (grants, jobs, etc.), and financials (balance sheets, bonds, etc.). The website received the highest possible rating (4*) from MuniNet Guide & Review, an independent research company intended to help government users stay abreast of new and/or improving Internet sites;

Reduced required documentation and streamlined procedures for loan commitments and purchases and worked toward implementing electronic submission of loan files;

Provided $612 million for 5,120 Alaskans to purchase homes, an increase of 18%;
Contributed more than $8.7 million in servicing fees to Alaskan lenders;
Maintained a delinquency rate of less than 4%;
Purchased 2,181 new First-Time Home Buyer loans totaling $213.5 million, an increase of 150%;
Provided lower mortgage rates to 1,238 low-income borrowers under the Interest-Rate Reduction for
Low-Income Borrowers Program, a 41% increase;
Increased mortgage loan activity by 31% in the urban loan programs;
Purchased 1,228 Streamlined Refinance Loans, with an average monthly savings of $207 per month;
Purchased 76 multi-family loans totaling $33.1 million, a 67% increase;
Closed four senior housing loans in three communities, totaling $4.5 million for 97 units.

Completed planning and development of the Annual Action Plan for the Housing & Community Development Plan (HCD) and the Annual Performance Report (APR), bringing $7 million HUD funds to Alaska;

Held workshops for 90 attendees in six statewide locations on the rental housing development process for the GOAL program.

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It is essential for AHFC to maintain an equitable balance between AHFC's ability to meet its mission of ensuring quality and affordable housing opportunities for Alaskans, and to maintain levels of net income sufficient to meet the financial obligations to the State of Alaska. AHFC is recognized as one of the leading housing authorities in the nation for its strong management, innovative programs, excellent bond ratings, and financial strength. While the State's budget dilemma is a solvable problem and the process is ongoing to reach a solution, AHFC intends to operate in a manner that responds to the state's fiscal needs while meeting the requirements of the Corporation's mission. AHFC has played an active role in assisting the state with its deferred maintenance, capital construction, and other financing needs. To date, this has been done in a manner that preserves the physical assets and investment portfolio of the Corporation in order to ensure our ability to continue to attract investors through the issuance of debt.

AHFC's core business activity is to earn profits through the purchase of mortgage loans. To ensure consistent adequate profits, the Corporation's management and Board of Directors have taken measures to improve AHFC's mortgage loan activity with programs that are driven by market conditions and established through a process of working closely with the housing industry. These efforts will continue both as a way to increase business activity and to offer Alaskans access to affordable mortgage financing. For example, AHFC is continuing to develop a PC-based automated mortgage underwriting system to offer home buyers a faster closing process while at the same time maintaining strong underwriting standards.

Due to changes in federal housing programs, AHFC is able to take advantage of new program funding that becomes available. AHFC will bring two new housing programs on-line in FY2001: the Welfare to Work program voucher and the Section 8 Project-based Contract Administration program. Housing Operations cannot absorb the increase in expenses at the current budget levels. Increments using available federal funds have been requested to cover these expenses.

Senior housing remains a priority concern to the Corporation. This segment of our state's population remains the fastest growing age group. Non-profit senior organizations and development groups continue to work with the Corporation to leverage funds and bring affordable housing and services to Alaskan senior citizens. The uncertain availability of funding through the capital budget process has disheartened some senior groups - many of which are staffed with volunteers - from developing project proposals through AHFC's Senior Housing Development Program. By working with the Alaska Commission on Aging, AHFC is working toward developing a stable program that provides housing opportunities designed to meet the needs of our senior population with appropriate types and levels of state support.

AHFC continues the development of its Rural Outreach program, which includes other industry partners in the process of increasing housing and finance options for Alaska's rural areas. The needs for housing in rural areas remain high, with a corresponding level of obstacles in meeting those needs.

AHFC and the Mental Health Trust are combining their efforts in working toward finding and establishing the process and financing mechanisms to address "reasonable accommodation" for persons with disabilities. Housing needs remain high and conventional financing methods are not a solution for this target group. Working with the Alaska Commission on Aging, AHFC is working toward developing a program designed to target elderly Alaskan's with physical and mental disabilities.

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Measure: Maintain or increase Net Income.
(Not yet addressed by Legislature.)

Current Status:
FY1999 Net Income: $79,850,000

Measure: Increase the loan portfolio.
(Not yet addressed by Legislature.)

Current Status:
Loan portfolio on 6/30/99: 26,776 loans / $2,367,754,000

Measure: Increase the number of loan applications.
(Not yet addressed by Legislature.)

Current Status:
FY1999 Loan applications:
Urban: 3,954 loans / $526,391,308
Rural: 825 loans / $128,060,289

Measure: Increase mortgage loan purchases.
(Not yet addressed by Legislature.)

Current Status:
FY1999 Mortgage loan purchases: 5,187 / $639,980,000

Measure: Maintain the rating of "High Performer" on the Public Housing Management Assessment Program (PHMAP).
(Not yet addressed by Legislature.)

Current Status:
FY1999 PHMAP Score: 100% (fourth year in a row).

Measure: Maintain or increase the rating of the Section 8 Management Assessment Program (SEMAP) score.
(Not yet addressed by Legislature.)

Benchmark:
Not yet established

Measure: Maintain timely completion of construction projects.
(Not yet addressed by Legislature.)

Benchmark:
FY2001 construction schedule.

FY2000 Performance Measure	Achieved	On Track	Too Soon to Tell	Not Likely to Achieve	Needs Modification
Maintain or increase Net Income
Increase the loan portfolio.
Increase number of loan applications.
Increase Mortgage loan purchases.
Maintain a "High Performer" rating on the Public Housing Management Assessment Program (PHMAP) score.
Establish a "High Performer" rating on the Section 8 Management Assessment Program (SEMAP) score.
Timely completion of construction projects.

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Capital Projects Listed by Department.

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Financial Summary

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