Affordable Housing Disposition Program (AHDP)
Statewide Compliance Monitoring - Approx. 129 properties - 2700 Units
Affordable Housing List
Property Owners Manual
Chapter 1 - Introduction
|The RTC Affordable Housing Disposition Program was established by section 501 of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989. Regulations governing the AHDP were issued in April 1990, with the basic statutory obligation being to ensure the preservation of affordable housing by providing home ownership and maintaining rental opportunities for moderate-income, lowincome, and very-low-income households. The two components of the AHDP are the Single-Family Program and the Multi-Family Program. In 1991, with the extensive amending of FIRREA by the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act (RTCRRIA), the RTC added condominium units to the AHDP and generally treat them as single-family properties.
The RTC classifies households as low-income when their income does not exceed 80 percent of the area median income as established by the U.S. Department of Housing and Urban Development (HUD). The RTC classified very-low-income households as those with income that does not exceed 50 percent of the area median income as established by HUD. Rents that can be charged to these households are restricted according to a formula based on income figures for the area of the property.