Texas Department of Housing & Community Affairs - Building Homes and Strengthening Communities
January 16, 2020

Media Contact:
Kristina Tirloni (512) 475-4743


TDHCA board approves $23 million action bolstering rural housing stock


(AUSTIN) – The Texas Department of Housing and Community Affairs (TDHCA) Governing Board today approved $23 million in housing tax credits to rehabilitate 825 multifamily units in rural areas of the state. Awarded through TDHCA’s 4% Housing Tax Credit Program, the 22 applications that made up today’s decision provide housing affordability for low-income families for the next 30 years.

The 4% HTC Program coupled with the Multifamily Private Activity Bond Program affords developers the opportunity to direct private capital toward the development and preservation of affordable rental housing for low-income households. The applications approved today will be pooled into one bond issuance totaling $39 million in private activity bonds.

“When pooled together, rural property applications like those approved today, are better served when combining them under one bond issuance,” explained Teresa Morales, TDHCA Director of Multifamily Bonds and Administrator of 4% Housing Tax Credits. “It can be cost prohibitive for smaller properties or those in rural areas to apply for bonds. The flexibility of financing through the Private Activity Bond and 4% HTC Programs allow developers to pool applications under one bond issuance, thus helping absorb the costs associated with bonds issuances and achieving greater scalability with rehabilitation or construction efforts.”

The following rural properties were included in today’s board approval:

Development NameNumber of Units
Brush Country Cottages28
Chula Vista44
Cielo Lindo34
La Estancia32
La Posada I & II74
La Reina30
La Sombra50
Las Palmas36
Leuty Avenue24
Los Laureles23
Los Naranjos30
Oak Haven24
Seagraves Garden32
Silver Trail24
The Village64
Valley View24
Villa Vallarta40
Vista Verde24
Windwood I & II68


About the Texas Department of Housing and Community Affairs
The Texas Department of Housing and Community Affairs is committed to expanding fair housing choice and opportunities for Texans through the administration and funding of affordable housing and homeownership opportunities, weatherization, and community-based services with the help of for-profits, nonprofits, and local governments. For more information about fair housing, funding opportunities, or services in your area, please visit www.tdhca.state.tx.us or the Learn about Fair Housing in Texas page. 

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