Texas State Affordable Housing Corporation provides interim and permanent financing to experienced nonprofit and for profit housing developers to preserve and increase the supply of quality affordable housing. Our goal is to target rural and underserved areas of Texas, where income eligible families need housing the most. We accomplish this goal through the following programs.
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The Coporation has access to 10% of the State's multifamily private activity bond volume cap each year. We issue these tax-exempt bonds to qualified developments that target one of four specific housing needs: Rural Housing, Senior Housing, Supportive Housing and the Preservation Affordable Housing.
Developers seeking bond financing must participate in our Request of Proposal process, available on our Private Activity Bond Program website.
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The Corporation raises funds and leverages investment from public and private entities to provide both permanent and interim financing to affordable rental housing developments. Our lending is focused on filling financial gaps that so many small and rural developments face. Our program is also available in urban areas that have historically been underserved by new investment. We can provide loans from $250,000 to more than $2,000,000 to qualified affordable housing developments. Check it out at the Direct Lending Program website .
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The Corporation can also provide acquisition and interim construction loans for the development of affordable homeownership developments. 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 builders that have experience and knowledge of local housing needs. For applications and policies go to the Interim Construction and Land Acquisition Loan Program website.
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The Corporation is authorized by the Texas Legislature to finance qualified residential rental facilities by issuing 501(c)(3) bonds for the benefit of non-profit organizations with a 501(c)(3) classification as designated by the Internal Revenue Code. While there is no State volume cap for 501(c)(3) bonds, the Corporation's Board may limit the number and amount of transactions issued in any given year. For more information about the Multifamily 501(C)(3) Bond Program, please click here.
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