The Affordable Housing Investment Fund (AHIF) is the County’s main financing program for affordable housing development. Since its creation in 1988, the AHIF has helped to create the majority of Arlington’s more than 6,500 affordable rental units that benefit low-income households. In conjunction with the Affordable Housing Ordinance, this revolving loan fund provides incentives for developers through low-interest, secondary loans for new construction, acquisition and rehabilitation of affordable housing. Since 2000, more than $200 million in loans have been granted.
A total of $13 million has been allocated for AHIF for Fiscal Year 2015. The fund is comprised of local and federal dollars and is also supported by loan repayments and developer contributions. For every $1 of public funds, $3 in private funds are invested. The AHIF is often used in combination with other Affordable Housing Financing Programs.
- Acquisition, rehabilitation and/or development of affordable multifamily units
- Specialized housing for the elderly, the homeless or persons with disabilities
- Affordable home ownership opportunities
- Must highly leverage other financial sources
- Must provide affordable housing for a minimum of 30 years (60 years preferred)
- Must demonstrate that no additional AHIF dollars will be required for project feasibility