# Presentation: 173855

## Building Stronger Communities

## Building Stronger Communities

**Our Mission**
**The mission of the Texas Department of Housing and Community Affairs is to help Texans achieve an improved quality of life through the development of better communities. **
**TDHCA serves as the state’s lead agency for affordable housing, community service and energy assistance programs, and colonia activities. **

## Overview of Programs and Services

**Consumer Related Divisions**
**Multifamily Finance Production **
**Single Family Finance Production**
**Community Affairs**
**Office of Colonia Initiatives**
**Policy and Public Affairs**
**Manufactured Housing**
**Portfolio Management                      and Compliance**

## Building Stronger Communities

**Multifamily Finance Production **
**Division**

## Multifamily Finance Production Division

**The Multifamily Finance Production Division administers programs that encourage the production of quality, affordable multifamily housing:**
**Housing Trust Fund**
**HOME Investment Partnerships Program**
**Housing Tax Credit Program**
**Multifamily Bond Program**

## Multifamily Finance Production Division

**Housing Trust Fund**
**Only state-authorized affordable housing program**
**Awards funds to non-profit and for-profit developers, local governments, public housing authorities, and community housing development organizations (CHDOs)**
**Funds the acquisition, rehabilitation, and new construction of affordable housing**
**Program may set aside funds for capacity building activities and the Predevelopment Loan Fund Demonstration Program**

## Multifamily Finance Production Division

**HOME Investment Partnerships Program**
**Loans and grants to help local governments, non-profit and for-profit developers, and public housing authorities provide safe, decent affordable housing**
**TDHCA allocates 95 percent of its HOME Program funds to cities and counties that do not receive HOME funds directly from the US Department of Housing and Urban Development **
**Multifamily Finance administers the HOME *****Rental Housing Development****** *****and***** ******Rental Housing Preservation****** *****fund***** *****set asides**
**HOME Program features set aside for CHDOs to develop affordable housing**

## Multifamily Finance Production Division

**Housing Tax Credit Program**
**Directs private capital toward the development of affordable rental housing**
**Developers use tax credits to offset a portion of their federal tax liability in exchange for the production of                              quality affordable rental housing**
**Developments must involve either                                               new construction or substantial                                                rehabilitation to qualify for tax credits**
**Properties are subject to rent                                                      restrictions and unit set-aside                                                     restrictions for low income tenants**

## Multifamily Finance Production Division

**Multifamily Bond Program**
**TDHCA issues mortgage revenue bonds to finance loans for qualified developers of quality affordable rental properties**
**Loans fund the construction, acquisition, or rehabilitation of multifamily rental properties**
**Properties financed are subject to rent restrictions and unit set-aside restrictions for low income tenants**
**For-profit and non-profit developers eligible to participate**

## Building Stronger Communities

**Single Family Finance Production **
**Division**

## Single Family Finance Production Division

**The Single Finance Production Division administers programs that assist individuals and families purchase a home of their own, repair their existing home, or secure affordable rental housing:**
**Texas First Time Homebuyer Program**
**Mortgage Certificate Program**
**HOME Investment Partnerships Program**

## Single Family Finance Production Division

**Texas First Time Homebuyer Program**
**Helps qualified individuals and families purchase their first home through proceeds from tax-exempt and taxable mortgage revenue bonds**
**Bond proceeds create below-market rate home                       loans for first time homebuyers or those who                           have not owned a home in the previous three                           years**
**Designed to serve low to moderate income                   households**
**Loans offered through a network of                                participating lenders**

## Single Family Finance Production Division

**Down Payment Assistance Program**
**Provides a grant to help very low to low income households with the purchase of a home**
**Assistance may be used for down payment and/or eligible closing costs**
**Program operates in conjunction with                                          the *****Texas First Time Homebuyer                                         Program***
**Program administered through network                                         of participating lenders**

## Single Family Finance Production Division

**Mortgage Credit Certificate Program**
**Provides a tax credit to reduce the federal income taxes for qualified homebuyers**
**Less income taxes paid means more household funds available for down payment and monthly mortgage payments**
**Annual tax credit equal to 40 percent of the annual interest paid on a home loan, not to exceed $2000 per year**
**Program offered through a network of participating lenders**

## Single Family Finance Production Division

**HOME Investment Partnerships Program**
**Loans and grants to help local governments, non-profit organizations, and public housing authorities provide safe, decent affordable housing**
**TDHCA allocates 95 percent of its HOME Program funds to cities and counties that do not receive HOME funds directly from the US Department of Housing and Urban Development **
**Single Family Finance administers the HOME *****Homebuyer Assistance******,****** Owner-Occupied Housing Assistance,****** *****and***** ******Tenant-Based Rental Assistance****** *****funds**