TDHCA Allocates $40.2 Million in Housing Tax Credits
The TDHCA Governing Board on July 28 approved the final 2004 Housing Tax Credit Program allocation (PDF), awarding just over $40 million in tax credits that will help create an estimated 6,690 units for affordable rental housing. Seventy-six applicants received an allocation in this year’s cycle, out of an original 182 applications active in the full application cycle, meaning just less than one in two received credits.
The allocation included nearly $3.7 million to five developments committed in 2003 as part of the 2004 credit ceiling. The Board did not take action on any developments involving forward commitments from the 2005 credit ceiling.
The HTC Program is the state’s primary means of directing private capital toward the creation of high quality affordable rental housing. Visitors to this Web site are encouraged to view the 9% Competitive Housing Tax Credit Program page to learn more about this important source of funding for affordable housing.