TDHCA Announces Availability of $18 Million in HOME Program Funds
TDHCA has released two HOME Program Notices of Funding Availability (NOFAs) totaling $18 million for the development and preservation of affordable rental property. The Department will make both of these funding awards through an open funding cycle, meaning that it will accept applications for these funding awards on an on-going basis until the Department allocates all the funds available. These NOFAs are not subject to the Department’s regional allocation.
Funds awarded through the $9 million HOME Program Rental Preservation NOFA will go toward the preservation and rehabilitation of existing affordable rental properties at risk of transitioning to market rates. Properties cannot be located within a participating jurisdiction (any city or county receiving federal HOME Program funds directly from Washington, D.C.), meaning developments must be located primarily in the state’s smaller or more rural communities. Applicants must be eligible nonprofit and for-profit housing developers, public housing authorities, or local governments.
The $9 million HOME Program Community Housing Development Organization (CHDO) NOFA (PDF) will award funds to assist these unique nonprofit housing organizations develop affordable rental properties. CHDOs applying for funds through this NOFA must also submit an application for CHDO certification with each development application. Previous CHDO certification or status will not be accepted. As with the Rental Preservation NOFA, developments seeking funding through the HOME Program CHDO NOFA cannot be located within a participating jurisdiction.
If you represent an organization that is interested in applying for these HOME Program funds through either NOFA, please read the appropriate notice and contact TDHCA’s Multifamily Housing Finance Production Division for further information. To learn more about participating and non-participating jurisdictions, please visit the TDHCA Program Guide (PDF) and navigate to Appendix B. To learn more about CHDOs, please visit the HOME Program’s CHDO FAQ sheet (PDF) and the CHDO web page.