JEFFCO HISTORY

Incorporated on February 13, 1980, as a legal instrumentality of the Jefferson County Housing Authority, the Jefferson County Assisted Housing Corporation was originally formed to pursue funding under HUD's Section 8 New Construction Program for 100 units of Section 8 housing for the elderly and disabled. Today, JeffCo is known as one of the most innovative and entrepreneurial non-profit, affordable housing providers in the Country. One of the first agencies in the state of Alabama to utilize the Low-Income Housing Tax Credit Program, the Corporation added 100 units of affordable housing for the elderly and disabled to its Spring Gardens property in 1996. The Corporation added phases III and IV to the property utilizing HOME funds through Jefferson County.


JeffCo was the first public entity to sign a contract with HUD’s Office of Multi-Family Housing Assistance Restructuring (now OAHP) to be the Participating Administrative Entity (PAE) in Alabama. Through its role as PAE in Alabama, JeffCo has been instrumental in the re-financing and rehabilitating of 2500 units of affordable housing in Alabama.


Through a contract with the U. S. Department of Housing and Urban Development, a Joint Venture of JeffCo and the Jefferson County Housing Authority provides Section 8 Contract Administration services to approximately 49,000 units of housing in the states of Alabama, Mississippi, Connecticut and Virginia.


With a total budget of over $210 million, Corporation programs are administered by over 65 employees from offices in Birmingham, Alabama, Jackson, Mississippi, Hartford, Connecticut and Richmond, Virginia. Primary contact number for all offices is toll free 888/466-5572.


JeffCo Organization


OTHER NON-PROFIT ENTITIES


In addition to its own business interests, JeffCo has been instrumental in the establishment of other non-profit entities. The Community Housing Development Corporation of Alabama (CHDCOA) was formed in 1999 to undertake affordable housing development and provide consulting services to other entities looking to undertake development activities. In the aftermath of devastating tornadoes in the spring of 1998 in Western Jefferson County, the CHDCOA was hired by Jefferson County to develop an affordable subdivision. Approximately 80 lots and a community center were developed. Other non-profits including Habitat for Humanity and YW Homes were partners in this development.

 

 

edgewater oaks

JeffCo also played a lead role in the establishment of the Public Housing Finance Corporation (PHFC) in 2003. PHFC was formed as the administrative agent for 37 Alabama housing authorities who worked together to undertake the first Capital Fund securitized pooled bond issue in the country. A total of $125 million in bonds were issued. The funds are being used to rehabilitate public housing properties across the state of Alabama. The issue was selected as 2003 Southeast Bond Deal of the Year by Bond Buyer magazine.

Phenix City

"The transactions executed by each of the regional winners …were complex and creative. They each advanced the industry, brought funding to projects that might otherwise have languished, and exposed the industry to new investors, participants, and beneficiaries"
- Any Resnick, Editor in Chief of the Bond Buyer Magazine


The Corporation is proud to have played a role in the establishment of these organizations. Their work will improve the quality of lives for thousands of Alabamians.