Program

Multifamily Tax-Exempt Housing Bonds

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.

Apply for 2027 Volume Cap

TSAHC’s 2027 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 18, 2026, 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.

Learn More

View the following Program Documents and application before you apply.

**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.

Targeted Housing Needs

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.

FY2027 RFP and Program Policies

Contact the Development Finance Team

Schedule a Meeting DevFinance@TSAHC.org Download Program Guidelines

At-Risk Preservation and Rehabilitation

For existing affordable housing developments that need significant structural or mechanical repairs. Project generally have existing income restrictions or have rental rates below current market rents. These projects require relocation plans and may not cause the permanent relocation of existing low-income tenants.

Housing in Rural and Smaller Urban Markets

Expanding and preserving affordable housing across Texas is critical to our mission. Our bond finance program strives to target rural communities (less than 20,000 pop.) and smaller urban areas (less than 150,000 pop.) where fewer housing units are available.

Senior, Service-Enriched and Supportive Housing

Seniors and persons with disabilities are often under served by housing development. This Target Housing Need seeks to expand and preserve opportunities for older persons, persons with disabilities and extremely low-income families.

Housing in Areas with Natural Disaster Declarations

Helping communities that have lost housing due to natural disasters is critical. TSAHC’s bond volume cap may be used to build new or repair damaged housing in areas impacted by disasters in the past 18-months.

What about housing tax credits?

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.

Contact TDHCA

Next Steps

Construction Standards

TSAHC requires that all homes constructed or rehabbed using its loan, bond or land banking programs meet minimum constructions standards.

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Multifamily Private Activity Bond Program Success Stories

View success stories from previously funded projects under the program.

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Find a Bond Trustee

TSAHC requires that Developers use certain Trustees, that have been approved by our Board to participate in our programs.

Learn More

After Closing, What’s Next?

Discover what ongoing requirements exist for a tax-exempt property after it closes.

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Schedule a Meeting to Learn More About our Application Process

Schedule a Meeting

Hear From Our Community

It is inspiring to think what the apartments in Burleson Studios will mean for 104 of our Austin neighbors who have struggled with housing. They will have access to independent living, and a place in a supportive community where they can find the resources and services they need to pursure their goals. We are grateful to TSAHC for their financial support for this community.

Walter Moreau
Executive Director of Foundation Communities

Building affordable multifamily housing is a complex financing endeavor. I rely on partners like TSAHC who are mission-driven and will work closely with you to develop housing we are proud to provide the citizens of Texas

Mark Mayfield
Texas Housing Foundation

Related Resources

View All Resources for Developers

Form

Multifamily Bond Program Application

Development Partners

View Resource

Article PDF

Construction Standards

Development Partners

View Resource

Article

Bond Financing Resources & Trustee List

Development Partners

View Resource

Frequently Asked Questions

Developer Frequently Asked Questions

Development Partners

View Resource

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