Multifamily Bond Programs - About The Program
The Private Activity Bond Program is administered by the Texas Bond Review Board. The Texas Department of Housing and Community Affairs (TDHCA) is a conduit issuer for the State of Texas and has authority to issue tax-exempt and taxable multifamily Mortgage Revenue Bonds statewide. The bonds are used to fund loans to for-profit and qualifying nonprofit 501(c)(3) organizations for the acquisition and rehabilitation or the new construction of affordable rental units. Currently, the bond program receives approximately $2 billion in allocation for the State of which approximately $525 million is set-aside for multifamily housing needs and of this amount TDHCA receives approximately $105 million. TDHCA is currently accepting pre-applications on a monthly basis for those seeking to have TDHCA serve as the bond issuer. The Private Activity Bond program is coupled with the 4% Housing Tax Credit program to maximize the use of State allocations. Developments financed through the program are subject to unit set-aside restrictions for lower income tenants and persons with special needs, tenant services, maximum rent limitations and other requirements as determined by TDHCA and its Board. For more information, contact Teresa Morales at (512) 475-3344 or email email@example.com.