Governor Perry signs 2005 Qualified Allocation Plan and Rules with modifications
Governor Rick Perry has approved and signed the 2005 Qualified Allocation Plan and Rules with Emergency Amendment (QAP) (PDF), with one modification. The QAP represents the official rules by which TDHCA will administer the Housing Tax Credit Program for the 2005 allocation cycle.
The Governor's emergency modification adds language to §49.9(g)(14), "Exurban Developments or Reconstruction or Rehabilitation of Developments (Development characteristics)." The section is located at the bottom of page 37 of the 57-page document, and directly relates to the state's public housing authorities and how these housing providers may participate in the program.
The Housing Tax Credit Program is the state's primary means of directing private capital toward the development of high quality, affordable rental housing. Housing providers annually vie for nearly $40 million in tax credits in exchange for the development of affordable rental housing targeting households earning 60 percent or less than the area median family income.