Texas Department of Housing & Community Affairs - Building Homes and Strengthening Communities

TDHCA Press Room

Housing tax credits increase housing choices for Texans

To help meet the housing needs of both a younger workforce and retired individuals, TDHCA has allocated $65.3 million in federal housing tax credits to private developers creating rental properties that offer reduced rents.

Because the credits may be used over a ten-year period, this year's allocation is expected to generate close to $653 million in financing to assist 64 affordable rental properties.

The awards, made through the Department's 2016 Housing Tax Credit Program ("HTC") allocation cycle, are expected to help produce or preserve approximately 5,000 units of affordable rental housing.

The HTC Program brings together private developers and private investors to create rental housing serving tenants earning no more than 60 percent of the area median family income.

Developers and their investment partners use the credits to offset their federal tax liability on a dollar-for-dollar basis in exchange for their investment in the construction or rehabilitation of qualifying rental units.

The credits announced today are designed to cover approximately 70 percent of eligible development costs, allowing developers to build high quality, attractive housing that offers tenants a reduced rent.

Read the news release for further details.

 

News Releases

News releases are developed by the Communications and Marketing section of the Division of Policy and Public Affairs to publicize TDHCA program activities. These include application funding cycles, program grant awards, special events, board activities, and other relevant information.

Date Headline
07/29/2016 State housing agency’s $65.3 million tax credit allocation to expand housing options for income-eligible Texans
07/28/2016 State housing agency continues investment in Hidalgo County Self-Help initiatives
07/28/2016 State housing agency continues investment in Webb County Self-Help initiatives
06/24/2016 State housing agency, regional nonprofit to provide energy assistance program in nine East Texas counties
03/21/2016 State housing agency’s online homebuyer education tool takes the complexity out of home purchase process
02/05/2016 State housing agency’s $9.96 million to create affordable housing, expand housing choices for low-income Texans
11/19/2015 State housing agency’s $34.5 million package to fund upgrades for Grand Prairie affordable rental property
07/30/2015 State housing agency’s $63.5 million tax credit allocation to expand housing options for income-eligible Texans
07/30/2015 State housing agency’s $700,000 contract to improve living standards in five Starr County colonias
07/16/2015 State housing agency’s $1 million contract to improve living standards in five Maverick County colonias
07/16/2015 State housing agency provides additional $578,000 to improve colonia standards in Cameron and Willacy counties
02/27/2015 State housing agency to contribute to ambitious makeover of 1,590 units of El Paso public housing
01/21/2015 State housing agency’s $6.7 million financing package to expand affordable rental market in Rio Hondo