The Austin Housing Finance Corporation (AHFC) regularly partners with non-profit and for-profit housing developers through a competitive solicitation process referred to as a Request for Proposal (RFP) or Request for Qualification (RFQ). These partnerships support affordable housing development of AHFC-owned properties with rental and owner-occupied housing reserved for low-income households.
The City of Austin Housing Department has both a Housing Finance Corporation entity and a Public Facilities Corporation entity that are used as tools for partnering with developers to create and maintain affordable housing by providing a 100% property tax exemption for residential properties owned by the entities. Each entity has different partnership criteria, funding strategies, and affordability targets.
The City of Austin may provide developers with incentives—such as fee waivers, density bonuses, tax incentives, and development agreements—to build and to set aside affordable rental and ownership housing for low- and moderate-income households in developments.
There are also several Federal and State funding sources and tools that allow for the construction or rehabilitation of income-restricted affordable housing, including Low-Income Housing Tax Credits (4% and 9%), Private Actvity Bonds, and Community Housing Development Organizations (CHDOs).
There are a variety of different funding sources (e.g. Housing Trust Fund, Project Connect, General Obligation Bonds) that the Austin Housing Finance Corporation (AHFC) uses to provide gap financing for rental and ownership income-resticted developments.
Once an award has been received and the loan closed, there might be questions on how to obtain loan disbursements and comply with the loan agreement. The Housing Development Assistance (HDA) Compliance Team monitors projects awarded HDA funding as well as Developer Incentive Certifications and oversees loan disbursements and loan compliance.
Applications for Rental Housing Development Assistance (RHDA) and Ownership Housing Development Assistance (OHDA) for affordable housing support are available here. Visitors to the site can review the submitted developer applications, provide comments, and ask questions about the applications and the review process.
The 'Affordability Unlocked' Development Bonus Program waives or modifies some development restrictions in exchange for providing low and moderate-income housing.
This page has the current and past application requests for 4 Percent Tax Credit Resolution Applications, 9 Percent Tax Credit Resolution Applications, and Private Activity Bond Resolution Applications for Texas Bond Review Board.