TSAHC receives 10% of the state’s annual private activity bond volume cap for residential rental projects. Our statute requires us to focus on Targeted Housing Needs that our board reviews and updates each year.
Our tax-exempt bonds are issued on a conduit basis. This means the bonds are purchased by private investors to fund affordable multifamily rental housing, and they do not create a debt or liability to the State of Texas.
TSAHC’s 2026 volume cap application cycle is now open. Our Multifamily Private Activity Bond Request for Proposals and Policies were approved by TSAHC's Board of Directors on August 19, 2025, officially opening the application period for next year. Links to our new RFP and Policies, along with the new Multifamily Bond Application are linked below.
FY2026 RFP and Program Policies
FY2026 Multifamily Bond Application
The cornerstone of TSAHC's tax-exempt bond program is our Targeted Housing Needs. Our statute requires TSAHC to review relevant needs assessments and to target our tax-exempt bond allocation for underserved housing needs. To that end, we have four primary Target Housing Needs.
1. At-Risk Preservation and Rehabilitation of Existing Affordable Units
2. Housing in Rural and Smaller Urban Markets
3. Senior, Service-Enriched and Supportive Housing Developments
4. Housing in Areas with Natural Disaster Declarations
TSAHC adopts a Request for Proposals and Policies (RFP) for each calendar year. Developers interested in applying must read through our 2026 RFP and submit a complete Multifamily Bond Application, both linked below. Developers are also encouraged to schedule a virtual meeting to discuss their project and ask questions about the application process.
FY2026 RFP and Program Policies
FY2026 Multifamily Bond Application
Schedule a meeting to discuss your project before applying.
Applicants seeking to include TSAHC as a joint venture partner should review our Joint Venture webpage.
Because the multifamily or rental housing private activity bond program can be used with the 4% Low Income 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. Please contact TDHCA if you have questions about the Low-Income Housing Tax Credit program.
**PLEASE NOTE: Applications and other information submitted to TSAHC are subject to the Texas Public Information Act, Texas Government Code, Chapter 552, and may be subject to disclosure to the public.
