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). These partnerships support affordable housing development of AHFC-owned properties with rental and owner-occupied housing reserved for low-income households.
The Austin Housing Finance Corporation (AHFC) partners with developers to build affordable housing. In a typical partnership, AHFC owns the land and ground leases it to a development partnership, of which an AHFC affiliate serves as the general partner; AHFC also retains the right of first refusal and a purchase option. In exchange, the development maintains AHFC’s 100% exemption from property taxes. To learn more about partnering with AHFC please submit a proposal for partnership.
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 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.