If you have questions not addressed below, please contact David Danenfelzer, Senior Director of Development Finance, at 512-477-3562.
A land bank is a public or community-owned entities created for a single purpose: to acquire, manage, maintain, and repurpose vacant, abandoned, and foreclosed properties. TSAHC holds land and works with Local Partners to develop it.
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 owns improvements on it. 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.
TSAHC offers lines of credit for the acquisition of land and construction of new homes, as well as for the acquisition and rehabilitation of existing homes. Details about these programs can be found through the links below:
The Texas Housing Impact Fund, administered by the Texas State Affordable Housing Corporation, offers financing for the development, acquisition, or rehabilitation of affordable rental or homeownership projects across Texas.Through the Texas Housing Impact Fund, TSAHC provides short and long-term loans to loans to developers seeking to build affordable housing, with an emphasis on empowering local nonprofit builders. Our loan products provide competitive rates and can be combined with other financing products to give developers the flexibility they need to create sustainable housing in Texas.
For more information, click here.
TSAHC’s lending and tax-exempt bond programs accept applications on an ongoing basis. TSAHC will post an announcement on our website if funding is not available for any of our programs. Interested applicants should contact our staff before completing an application in order to determine if there is sufficient funding available. Our application materials, policies and term sheets are available online.
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 that TSAHC issues; 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.