U.S. Department of Housing and Urban Development Grants
Funding from the U.S. Department of Housing and Urban Development (HUD), such as Community Development Block Grants (CDBG), HOME Investment Partnerships (HOME), and General Obligation Bonds to assist with affordable housing development, are used to support the construction and renovation of affordable housing.
Low-Income Housing Tax Credit (LIHTC)
The Texas Department of Housing and Community Affairs (TDHCA) provides low-income housing tax credits (LIHTC) that allow housing developers to take a federal tax credit to offset up to either 4 percent or 9 percent of its federal tax liability in exchange for building low-income rental housing project. To be eligible, developers are required to obtain a supportive resolution from the City Council as part of their application. Applicants are also required to participate in the S.M.A.R.T. Housing Program (see below) to receive City support. For more information on LIHTC in Texas, visit the TDHCA website.
Rental Housing Development Assistance (RHDA)
Rental Housing Development Assistance (RHDA) Program works to expand the community’s supply of affordable rental housing for low-income households and to increase the availability of permanent supportive housing for persons experiencing homelessness or low-income households with special needs. Applicants are also required to participate in the S.M.A.R.T. Housing Program to receive City support.
Ownership Housing Development Assistance Program (OHDA)
The Ownership Housing Development Assistance Program provides funding to private and nonprofit developers, including Community Housing Development Organizations (CHDOs) for the acquisition, rehabilitation, and new construction of affordable ownership housing for low- to moderate-income homebuyers. Applicants are also required to participate in the S.M.A.R.T. Housing Program to receive City support.
Current RHDA/OHDA Applications
Current applications for RHDA and OHDA assistance for affordable housing support are available on the Current Applications Listings site. Visitors to the site can review the submitted developer applications and provide comments and ask questions about the applications and the review process.
Private Activity Bonds
Private Activity Bonds are tax-exempt bonds issued by the AHFC to finance multi-family developments. The AHFC is a “conduit” bond issuer and does not assume any liability or obligation for the bonds, nor are they repaid by taxpayers. Multi-Family Mortgage Revenue Bonds issued by the Austin Housing Finance Corporation are repaid through rents collected at the bond-financed property, not by the City of Austin or its taxpayers.
Community Housing Development Organizations (CHDOs)
Community Housing Development Organizations (CHDOs) are non-profit affordable housing organizations recognized by the U.S. Department of Housing and Urban Development (HUD) to qualify for pre-development loans, and be eligible for operating expenses grants to develop affordable housing for the community it serves.