Form 4852 Birmingham Alabama 2020-2025

Form 4852 Birmingham Alabama: What You Should Know

Qualifying entities include: nonprofit organizations; private entities; and local public bodies. HH-7 funding is provided on a quarterly basis and must be used solely for the purchase of qualified property within Jefferson and Jefferson County. The amount awarded is equal to 90% of the fair market value of such qualifying property during the prior fiscal year. HH-7 is not tax-exempt. The FH-7 program is an initiative of the Birmingham City Council and is administered by the City of Birmingham. (Source: HH-7 Grant Program) HH-7 funding is awarded through the Urban Community Development Fund (UDF) administered by the Community Development Division of the City of Birmingham. The UDF program is intended to provide the opportunity for homeowners to purchase healthy and secure housing. The UDF program provides funding based on a 3-year plan, consisting of a budget of 10.1 Million. Who is eligible for HH-7 funding? Qualifying organizations: Homes not exceeding 5,000 square feet are eligible through the Birmingham Homebuyer Guarantee program (HH-7) program. Homes of 5,000 to 10,000 square feet are eligible if there are at least two individuals who reside in the unit. If there is less than two residents, one individual must reside in the unit; one person residing in the unit, and five persons living in the unit. The qualifying unit must be located in a public and/or non-public area of Birmingham where demand for quality affordable housing is high enough to meet current demand. Homes must be occupied by at least three persons, and they cannot be located in a neighborhood that is designated an “urban village”. Homes can consist of either single-family homes or affordable multifamily housing as defined in section 8-105 of the Code of Birmingham Ordinance, Title 25, Section 8-105. Homes must be affordable to all persons earning 60% or less of area median income.

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