If you have questions not addressed below, please contact us at one of the following emails:
A land bank is a public or community-owned entity created to acquire, manage, maintain, and repurpose vacant, abandoned, and foreclosed properties. TSAHC holds land and works with Local Partners to develop affordable housing.
A land trust is an agreement where TSAHC maintains ownership of land that is developed by a Local Partner. This partnership allows TSAHC to own the land, and the Local Partners/Home Buyers own the improvements. This provides deeper levels of affordability at rental properties and the ability to sell homes at a more affordable price.
You are eligible to apply to be a Local Partner if you have a history of providing housing services within the communities where TSAHC properties are acquired. Local Partners must meet the following minimum qualifications:
TSAHC currently offers several financing options for multifamily affordable housing developments including loans and tax-exempt bonds. Our loan products are best suited for construction or bridge loans on both smaller and large-scale projects. The tax-exempt bond program is best for larger developments and for developers with high levels of experience in affordable housing development.
TSAHC offers smaller developers access to revolving lines of credit for affordable for-sale housing projects. Details about revolving lines of credit can be found on our Texas Housing Impact Fund website.
TSAHC’s lending programs accept applications on an ongoing basis when funding is available. TSAHC posts announcements on our website and sends out email blasts to interested parties when new funding is available.
Interested applicants should contact our staff before completing an application to determine if there is sufficient funding available. Here’s a link to book a meeting with staff: Book Meeting with TSAHC
There are three primary differences between the 501(c)(3) Bond Program and the PAB Program.
Unlike local issuers of PABs, TSAHC is not subject to the lottery process directed by the Texas Bond Review Board. This provides TSAHC with greater flexibility in the administration of the program. Unlike local issuers, TSAHC also has the ability to work statewide and on projects across several counties or cities.
TSAHC is a public nonprofit corporation. The Texas Legislature has given TSAHC the authority, pursuant to §2306.553 of the Texas Government Code, to issue tax-exempt bonds for the purpose of financing affordable housing.
The LIHTC program may be used in conjunction with Private Activity Bonds, however applications for LIHTC allocations must be made through the Texas Department of Housing and Community Affairs. The Internal Revenue Code does not allow LIHTCs to be used in conjunction with the 501(c)(3) bond program.
No, any costs incurred in the application or development process are the sole responsibility of the applicant. TSAHC only collects fees for specific services provided and to make required deposits to our professional service providers. These fees are used to cover our costs for the services provided and are not refundable.