Affordable Communities of Texas Initiative
Highlights
TSAHC’s Affordable Communities of Texas (“ACT”) program has additional Texas NSP funding available and we are actively searching for new Local Partners to target new communities and expand the reach of our neighborhood stabilization program. If your local government or nonprofit organization is interested in becoming an ACT Local Partner please contact the ACT Program Coordinator, Jolene Ropiak at 512-334-2155 and download the RFQ below.
Overview
The ACT program strives to stabilize neighborhoods and communities facing high rates of foreclosure by using land banking and land trust strategies to preserve housing assets and increase the supply of permanent affordable housing. The ACT accomplishes these goals by working with locally based nonprofit and government entities that manage the redevelopment process from a local perspective to ensure redevelopment meets local needs.
Through a network of more than 20 Local Partners across the state we’ve purchase more than 350 homes and vacant lots for redevelopment and rehabilitation as affordable housing. TSAHC is now searching for additional funding to continue the expansion of our land banking/land trust efforts to more communities.
TSAHC is also a participating lender with the REO Capital Fund and can provide Local Partners with lines of credit to acquire and rehab foreclosed properties. The REO Capital program can provide lines of credit up to $5 million. For more information see our ICAP program page or contact David Danenfelzer at: ddanenfelzer@tsahc.org.
First Look Program
In addition to creating a statewide land bank, TSAHC is also providing access to the National Community Stabilization Trust’s First Look program of foreclosure listings to local partners. Local Partners get regular emails of new property listings before they are placed with brokers and the chance to receive properties from banks and mortgage servicers providing free or donated properties.
Here’s a list of the benefits the ACT Buyer’s Agent program provides to our local partners:
- TSAHC provides local partners exclusive access to “First Look” foreclosure listings from more than 10 national financial institutions and mortgage servicers
- TSAHC has negotiated standardized purchase agreements that meet NSP requirements
- TSAHC can assist local partners with the collection of due diligence materials and reporting to NSP funders
- TSAHC also can provide short-term construction financing and demolition funds, on a case by case basis.
Other Services
The ACT program can provide a variety of other resources for local partners, including land bank management services and acquisition processing for local NSP programs. If you are interested in becoming a local partner in the ACT program please contact the ACT Program Coordinator, Jolene Ropiak at 512-334-2155. Below are links to the program’s policies, application and associated materials.
ACT Updated Policies
ACT Local Partner Application
ACT Buyer's Agent Sample MOU
Neighborhood Stabilization Program - Round One
TSAHC’s board has approved nine locally based nonprofit entities to help us identify and redevelop foreclosed properties using our NSP grant from the State of Texas. Here is a summary of the local partners that were approved under our NSP round one program. We’ve closed our local partner allocations for round one, but will be looking to re-open the program if and when additional funds become available.
Data Resources
TSAHC is providing links to the following websites for applicants to search and download critical data that is required for their applications. If you need additional assistance please contact us.
Texas A&M Real Estate Center
American Fact Finder
U.S. Census Bureau
Policy Map
