The Texas Department of Housing and Community Affairs’ (TDHCA) Multifamily Finance Division published the 2019 Multifamily Direct Loan Program Overview Webinar and the 2019-1 Multifamily Direct Loan NOFA Application Log. TDHCA’s Multifamily Finance Division also posted an updated 2018-1 Multifamily Direct Loan NOFA Application Log.
The Multifamily Direct Loan Program provides funding to nonprofit and for-profit entities for the new construction or rehabilitation of affordable multifamily rental developments. Funding is typically provided in the form of low interest rate, repayable construction-to-permanent loans. Multifamily developments funded through the Department’s Multifamily Direct Loan Program must comply with long-term rent and income restrictions and may be layered with additional funding sources.
The TDHCA Multifamily Finance Division has been made aware that cell BW37 in Section 3 of Tab 19 of the 2019 Multifamily Uniform Application, related to Income Levels of Residents, does not account for Units at 20% AMGI (i.e., Units at less than 30% AMGI). This could result in the incorrect score applied to the scoring item 10 TAC 11.9(c)(2). If your Application includes Units at 20% AMGI, please contact Sharon Gamble, Competitive HTC Program Administrator Sharon Gamble at [email protected].
