Public Hearings Scheduled on Applications for Multifamily Funding
Beginning April 2, TDHCA will hold a series of 13 hearings to accept input from the general public on applications in the Department's 2007 Housing Tax Credit Program (HTC) allocation cycle and 2007 HOME Program Multifamily Preservation and Rental Housing Development fund awards.
The hearings run April 2-11 and are scheduled for Austin, El Paso, Corpus Christi, Dallas, Harlingen, Houston, Longview, Lubbock, Lufkin, San Angelo, San Antonio, Waco, and Wichita Falls. The entire hearing schedule, a log of all applications received, and information on how to provide comment is available on the HTC Program's web page.
The Housing Tax Credit Program is the State's primary means of directing private capital toward the development of affordable multifamily rental housing for individuals and families earning no more than 60 percent of the area median family income. Developers use the credits to offset their federal taxes on a dollar-for-dollar basis in return for the development of rental properties with units that offer reduced rents.
The HOME Program's multifamily funds provide assistance to eligible nonprofit and for-profit housing organizations, cities, counties, and public housing authorities creating or retaining affordable rental housing. Applicants may use these funds to develop new affordable housing or preserve existing affordable housing at risk of losing its subsidy and reverting to market rental rates.
TDHCA strongly encourages all Texans interested in or concerned about affordable housing to become familiar with its programs and to participate in the public comment process.