Multifamily Private Activity Bond Program

 

Highlights

The Texas State Affordable Housing Corporation has approved is currently processing two development proposals through its Multifamily Private Activity Bond Program. Public hearings for both development proposals have been scheduled and posted for public notice. A list of the locations for hearing is included in the links below.

Gateway Northwest Apartments – Monday, June 25th, 2012 at 6:30pm at City of Georgetown Parks and Recreation Administration Building Community Room, 1101 North College Street, Georgetown, Texas

Dalcor Affordable Housing I PortfolioClick here for a list of all hearing dates and locations.

For more information on the projects check out the Private Activity Bond Archives page.

 

Program Summary

TSAHC serves low-income Texans by providing financing through our Private Activity Bond (PAB) program to construct or preserve affordable rental housing. TSAHC receives 10% of the State's multifamily PAB volume cap annually and issues these bonds through a competitive request for proposals process. Our multifamily bonds may only be used to support projects that fulfill one of the four targeted housing needs listed below.

  1. At-Risk Preservation and Rehabilitation
  2. Rural and Smaller Urban Markets
  3. Senior and Supportive Housing Developments
  4. Disaster Relief Housing

The current request for proposals and application materials are available through the links below. Please contact David Danenfelzer, at ddanenfelzer@tsahc.org or 512-477-3562 with any questions.

2012 Request for Proposals

Refunding and Refinancing Policy

Application for PAB & 501c3 Bonds (pdf)

Application for PAB & 501c3 Bonds (word)

Because the PAB program is so closely linked to the 4% Housing Tax Credit program, we recommend that developers review the latest information and application materials from the Texas Department of Housing and Community Affairs’ (TDHCA) Multifamily Program Division. Developers should consult directly with TDHCA about the housing tax credit program.

 

Program History

TSAHC’s Multifamily PAB program was established in 2004 and has since issued more than $104 million in bonds. These properties offer over 2,900 units of affordable rental housing located in more than 19 cities across Texas, including nearly 500 units in rural and smaller urban areas.  TSAHC is proud of its ability to offer a flexible alternative to multifamily bond finance in Texas.  Check out some of our properties on the map below.

 

Trustees

TThe Corporation’s Board has approved the following financial institutions to participate in the Multifamily Private Activity Bond program as Trustees. The Corporation does not play a role in the selection of Trustees on individual transactions. Developers are responsible to communicating and finalizing Trustee agreements with the entity of their choosing.

Bank of New York Mellon
Sheila S. Papelbon
The Bank of New York Mellon Trust Company, N.A.
10161 Centurion Parkway
Jacksonville, Florida  32256
Phone: (904) 645-1945
sheila.papelbon@bnymellon.com

Bank of Texas
Pamela Black
801 Cherry Street, Suite 3325 - Unit 27
Fort Worth, Texas 76102
Phone: (817) 348-5797
Email: PBlack@bankoftexas.com

Regions Bank, N.A.
Mark Dault
1111 W. Mockingbird Lane, Suite 1200
Dallas, Texas 75247
Phone: 214-678-2577
Email: mark.dault@regions.com

Wells Fargo Banks, N.A.
Judith A Parmenter
625 Marquette Ave
Minneapolis, MN 55479
Phone: 612-667-8185
Email: judith.a.parmenter@wellsfargo.com

Wilmington Trust N.A.
Gregory Hasty
Wilmington Trust N.A.
15950 North Dallas Parkway, Suite 550
Dallas, Texas 75248
Phone: 972-383-3153
Email: ghasty@wilmingtontrust.com

 

Informative Links

If you'd like more information about private activity bonds check out some of these websites.
National Association of Local Housing Finance Agencies (NALHFA)
Texas Association of Local Housing Finance Agencies (TALHFA)
Texas Department of Housing and Community Affairs (TDHCA)
Texas Bond Review Board (TBRB)
If you’d like information about the history of the Corporation’s PAB program and documents issued in previous years, check out the Private Activity Bond Archives.

 

Compliance

The Corporation's bond-financed properties must report on their compliance with the program and the bond documents. The Corporation has developed a convenient way for you to submit your compliance reports online. Click here for the online system . It is imperative that the compliance reports be filed in a timely manner. Your ability to comply with the necessary monitoring and reporting requirements could affect future financing considerations with the Corporation as well as with other housing finance agencies in Texas .