The Texas Department of Housing and Community Affairs’ (TDHCA) posted the 2020-2 Multifamily Direct Loan Special Purpose Notice of Funding Availability (2020-2 NOFA), which announces the availability of National Housing Trust Fund (NHTF) for four percent-layered applications that received advance notice of Certificate of Reservation from the Texas Bond Review Board under the 2020 Lottery. All NHTF under this NOFA will be available as Construction Only or Construction to Permanent Loans structured as surplus cash flow loans to finance new construction or reconstruction developments providing 30 percent units that would not have been available otherwise.
Applications will be accepted from 8 am CT on December 3 through 5 pm CT on January 6, 2020. All Applications received under this 2020-2 NOFA will receive an Application Acceptance Date of January 6, 2020, regardless of the actual day within the period of time described above. The maximum per Application request under this NOFA is $3 million. Scoring criteria in the Multifamily Direct Loan Rule may be utilized should funds become oversubscribed, so it is important that Applicants familiarize themselves with the 2020 rules under 10 TAC Chapter 11, 12, and 13.
Questions regarding the posted documents may be directed to TDHCA Multifamily Direct Loan Program Administrator, Andrew Sinnott, at andrew.sinnott@tdhca.state.tx.us or 512-475-0538.
