The Texas Department of Housing and Community Affairs has posted an updated Application Log for the 2017-1 NOFA. THDA reports funding under multiple set-asides remains available.
January 4, 2017 — The Texas Department of Housing and Community Affairs posted to its website the 2017-1 Multifamily Direct Loan Notice of Funding Availability (NOFA).
Up to $32,549,905 in Multifamily Direct Loan funding for the development of affordable multifamily rental housing for low-income Texans is available to for-profit and nonprofit entities that meet the requirements of the NOFA.
- Applicants will also be subject to HUD’s HOME requirements.
- Proposed projects may be layered with 9% or 4% tax credits.
- All funds are subject to the Regional Allocation Formula found in the NOFA.
- Set-asides:
- CHDO: At least $4,723,589 in HOME funds set aside for eligible Community Housing Development Organizations
- Supportive Housing/Soft Repayment: Up to $4,000,000 of Tax Credit Assistance Repayment Funds (TCAP RF) are available for this set-aside
- General: All remaining TCAP RF and HOME funds available to the general set-aside (currently anticipated at $23,826,316)
The Department will accept applications beginning on January 9, 2017. Based on the availability of funds, applications may be accepted until 5:00pm Austin local time on August 31, 2017.
The Department has also posted to its website the 2017 Multifamily Direct Loan Rule (10 TAC Chapter 13). This rule is intended to govern the various funding sources that comprise Multifamily Direct Loan funds and enhance their effectiveness in achieving policy objectives.
Both the NOFA and 10 TAC Chapter 13 appeared in the December 30, 2016, version of the Texas Register.
For additional information, please contact Andrew Sinnott, Multifamily Loan Programs Administrator, at (512) 475-0538 or andrew.sinnott@tdhca.state.tx.us.
