TDHCA Awards $2.3 Million in Hurricane Rita Relief Funds
TDHCA recently announced two funding awards totaling more than $2.3 million to help meet the housing needs of counties hard hit by Hurricane Rita. The awards, made through special hurricane-related categories in the Housing Tax Credit and Bootstrap Loan programs, are expected to benefit an estimated 233 households.
Three private developers were awarded $1.7 million in credits from the Hurricane Rita - Housing Tax Credit ceiling to construct or rehabilitate 216 affordable rental units. This special allocation – part of a $3.5 million supplement to the state's regular allocation of $43.4 million in credits – will help finance three affordable rental properties in Jefferson County.
Self-Help Housing of East Texas received $623,200 through the Hurricane Rita – Bootstrap Loan Program, a self-help, "sweat equity" housing program. Through this program, low income individuals and families are provided the resources to build or improve their home if they are willing to provide up to 60 percent of the necessary labor themselves. Self-Help Housing of East Texas expects the award to assist 17 households in Newton, Jasper, and Sabine counties.