TDHCA Press Room

Housing tax credits increase housing choices for Texans

More Texans will soon have significantly greater options regarding where they choose to live as the result of TDHCA's awarding of $60.1 million in federal housing tax credits to private developers building or rehabilitating rental properties offering reduced rents.

The awards, made through the Department's 2014 Housing Tax Credit Program allocation cycle, are expected to help produce or preserve approximately 5,407 units of affordable rental housing.

The program is increasingly important to the state's growing numbers of young working families, as it expands the housing choices for these households while offering them increased opportunities to improve their economic circumstances.

Tax credits are also a key source of financing for the development of safe, decent rental housing affordable to older tenants living on fixed incomes, another segment of the state's population growing at a rapid rate.

The federal Housing Tax Credit Program brings together private developers and private investors to create high quality, attractive rental housing serving tenants earning no more than 60 percent of the area median family income.

Developers and their investment partners use the credits to offset their federal tax liability on a dollar-for-dollar basis in exchange for the construction or rehabilitation of rental units serving qualifying households.

Read the news release for further details.