Overview
The Corporation provides a wide variety of financial tools to build better housing for working families across the State of Texas. Our goal is to partner with experienced nonprofit and for-profit affordable housing developers to preserve and increase the supply of quality multifamily and single family housing for income eligible families and individuals. Here is a summary of our programs.
|
|
The Affordable Communities of Texas (the “ACT”) program strives to stabilize neighborhoods and communities facing high rates of foreclosure by using land banking and land trust strategies to stabilize home values, preserve affordable homes and increase the supply of permanent affordable housing. The ACT initiative draws its design and policies from similar programs initiated by municipalities and states around the U.S. For more information about the Affordable Communities of Texas initiative click on the link included on this page.
|
One of the central purposes of the Corporation is to increase private investment in affordable housing development. Our Multifamily Direct Lending Program achieves this goal by leveraging private investments from individuals, foundations and financial institutions, and providing direct loans to affordable rental developments. We target our financing in small and rural communities across the state and housing that serves extremely-low income populations. For more information about the Multifamily Direct Lending Program click on the link included on this page.
|
The Corporation also provides acquisition and interim construction loans for the development of single family affordable homes. Our funds are targeted to rural and underserved communities that need new housing for working families earning less than 80% of the median income. We focus on working with local developers that have experience and knowledge of local housing needs. For applications and policies go to the Interim Construction and Land Acquisition Loan Program website.
|
The Corporation is authorized to issue tax exempt bonds through our Multifamily Private Activity Bond and 501(c)(3) Bond programs. Each year we identify critical housing needs in Texas and release a request for proposals (“RFP”) to award bond issuances under these programs. For more information about the Multifamily Private Activity Bond, or 501(c)(3) Bond programs click on the links included on this page.
|
| |
|
