AHFC Releases Annual Report for 2020
Testing Our Resilience
The 2020 Annual Report tells the story of how the Alaska Housing Finance Corporation managed the COVID-19 crisis and at the same time delivered on the mission of giving Alaskans access to safe, comfortable, affordable housing. This publication provides details on the following areas:
- Community Support
- Community Development
- Housing the Homeless
- Energy & Research
- Financials (The Bottom Line)
What's In The 2020 Annual Report
In the report you'll find updates on the many housing programs AFHC offers, details about how the corporation worked within urban and rural communities to promote housing security, real-life stories from your fellow Alaskans, and more. Here are some highlights.
- Even during a pandemic year, there was no increase to the foreclosure rate from FY19. This was due in large part to underwriting standards, extensive homebuyer education, and customer-oriented servicing which kept delinquencies at near-historic lows.
- $10 million in Federal CARES Act funding for rent and mortgage relief — allocated to AHFC by the Governor and Legislature — was provided to Alaskans in need of assistance. Through Alaska Housing Relief, AHFC created the infrastructure to provide rent and mortgage relief with payments made directly to landlords and mortgage services to keep thousands of Alaskans securely housed.
- Alaskans turned to home renovation during the pandemic resulting in a record high in renovation loans for Alaska Housing, from $4.4 million in FY14 to $29 million in FY20.
- AHFC provided loan financing and $614,000 in Low Income Tax Credits to help make Elizabeth Place a reality, the first new development of affordable housing in downtown Anchorage in the past ten years.
- Through the Basic Homeless Assistance Program the corporation helped support families, victims of domestic violence, youth and older individuals experiencing homelessness or being at risk of homelessness. The program served more than 12,000 Alaskans in FY20 through 31 organizations.
- Alaska Housing invested $5.4 million in FY20 with its weatherization partners who scheduled 369 homes in 22 communities for energy efficiency upgrades. Nine of the 22 communities are rural communities.
Another Year Of Growth
Overall FY20 turned out to be another positive year for the corporation. The operating income increased to $35.5 million in FY20, compared to $34.8 million in FY19 — the eighth year in a row the corporation shows year over year operating income growth. The dividend to the State of Alaska is $42.6 million.
For More Information
AHFC’s fiscal year runs from July 1 to June 30. To read the full annual report go to: https://ahfc.us/about-us/