The Texas Department of Housing and Community Affairs (“TDHCA”) has posted the Amended 2018-1 Multifamily Direct Loan Notice of Funding Availability (“2018-1 NOFA”) and an updated Application Log for applications received under the 2018-1 NOFA to its website.
As a result of the Second Amendment to the 2018-1 NOFA, $58,304,276 in Multifamily Direct Loan funding is available to for-profit and nonprofit organizations to develop affordable multifamily rental housing throughout the State. Additionally, the maximum per application request in all three set-asides has increased: $4 million for new construction and $3 million for rehabilitation under the General set-aside, $2 million regardless of the type of construction under the Supportive Housing/Soft Repayment set-aside, and $4 million regardless of the type of construction under the Community Housing Development Organization (“CHDO”) set-aside.
Applications will continue to be accepted until Friday, Nov. 30, 2018, at 5 p.m. Austin local time.
The updated Application Log can be found at: http://www.tdhca.state.tx.us/multifamily/home/index.htm.
The Amended 2018-1 NOFA can be found at: http://www.tdhca.state.tx.us/multifamily/nofas-rules.htm or http://www.tdhca.state.tx.us/nofa.htm.
If you have any questions about the 2018-1 NOFA, or if you identify an errors in the log, please contact TDHCA Multifamily Loan Programs Administrator Andrew Sinnott at andrew.sinnott@tdhca.state.tx.us or 512-475-0538.
