Skip to main content
austintexas.gov

Action Navigation

  • 3-1-1
austintexas.gov
Search

Main menu

Home
  • Resident

    Resident

    Open the Resident page
      Open the Resident page
    • Household
      • Getting a Home
      • Utilities
      • Trash and Recycling
      • Gardening and Home Improvements
      • Home Improvements
      • Pets and Adoption
      Open the Household page
    • Neighborhoods
      • Education
      • Libraries
      • Families
      • Neighborhood Issues
      Open the Neighborhoods page
    • Health
      • Animals
      • Public Health
      Open the Health page
    • Public Safety
      • Crime
      • Courts
      • Fire Safety
      • Emergency Preparedness
      • Public Safety Employment
      Open the Public Safety page
    • Arts and Leisure
      • Arts, History and Culture
      • Outdoor, Nature and Wildlife
      • Events
      • City Venues and Facilities
      • Film and Music
      Open the Arts and Leisure page
    • Environmental
      • City Programs and Initiatives
      • Conservation and Recycling
      • Animals and Wildlife
      • Parks
      Open the Environmental page
    • Transportation
      • Car/Bus
      • Aviation
      • Bicycle/Pedestrian
      • Streets/Maps
      Open the Transportation page
    • City of Austin
      • About Austin
      • Voting and Elections
      • Get Involved
      • City Jobs
      • Records and Documents
      Open the City of Austin page
  • Business

    Business

    Open the Business page
      Open the Business page
    • Doing Business
      • Utilities
      • Doing Business with the City
      • Taxes
      • MBE/WBE Program
      • City Code
      • Food Establishments
      • Permits
      • Day Labor
      • Records and Documents
      Open the Doing Business page
    • Starting Out
      • Starting a Business
      • Relocating a Business
      • Incentives and Grants
      Open the Starting Out page
    • City Contracts
    • Small Business Centers
      • Small Business Development
      • Incentives and Grants
      Open the Small Business Centers page
    • Austin Center for Events
    • Nonprofits
      • Grants
      Open the Nonprofits page
    • Green Resources
  • Government

    Government

    Open the Government page
      Open the Government page
    • City Council
    • City Manager's Office
    • Boards and Commissions
    • City Council meeting information
    • City Hall
    • Jobs
    • Public Records
  • Departments

    Departments

    View full directory of departments

    Frequently Viewed Departments

      View full directory of departments
    • Visit
      • Airport
      • Visitors Bureau
      • Convention Center
    • Utilities
      • Austin Energy
      • Austin Water
      • Resource Recovery
    • Education & Recreation
      • Library
      • Parks and Recreation
    • Safety
      • Police
    • Other
      • Animal Service
      • Development Services
      • Economic Development
  • Connect

    Connect

      Open the Connect page
    • Share ideas online about improving Austin
    • Participate in the City
    • Sign up for email updates
    • City contact information
No BannerMobile No Banner
  1. Departments
  2. Housing and Planning Department
  3. City and AHFC Announce Available Funds for Developers to Create More Affordable Housing

City and AHFC Announce Available Funds for Developers to Create More Affordable Housing

  • Home
  • About
  • Housing & Displacement Prevention
  • Zoning & Urban Design
  • Inclusive Planning & Program Delivery
  • Policy, Plans, & Data
  • Resource Library
City of Austin Seal

City of Austin

FOR IMMEDIATE RELEASE
Release Date: Apr. 13, 2022
Contact: Housing and Planning Department     5129743100    Email

Approximately $62 million available for Housing Development Assistance

Austin, Texas — Austin Housing Finance Corporation (AHFC) would like to invite the development community to apply for financial assistance through our Rental Housing Development Assistance (RHDA) and Ownership Housing Development Assistance (OHDA) programs. AHFC recognizes the dramatic increase in development costs over the last year and acknowledges that affordable housing developers are often challenged by these sharp increases. To meet these challenges, AHFC is proud to announce the availability of approximately $62 Million to be awarded through these programs.

In October 2021, Austin City Council allocated the final two years of General Obligation Bonds for the R/OHDA programs. RHDA has approximately $25 Million available and OHDA has approximately $4 Million.

 
Council has approved the allocation of $21 Million from Project Connect for R/OHDA projects. The available funds add to other anti-displacement initiatives and advance the city’s commitment to key housing challenges and to reducing transit-induced displacement pressures as part of Project Connect. Projects must be within one mile of a Project Connect transit corridor and include a policy for tenant or owner selection to prioritize persons that have been or are currently at risk of displacement. Developers wishing to access this fund must complete the Racial Equity component of the R/OHDA application.

AHFC will also provide access to several other local, geographically restricted funds, such as the Homestead Preservation District Tax Increment Reinvestment Zone (HPD TIRZ) with approximately $5 Million, the University Neighborhood Overlay district (UNO) with approximately $1 Million, and other Transit-Oriented Developments (TODs) with approximately $2 Million. To complement these local funds, AFHC will award approximately $360,000 in federal HOME funds to eligible projects sponsored by Community Housing Development Organizations (CHDOs). 

Lastly, Council allocated $2.25 Million for developments that agree to use the Preference Policy for individuals experiencing displacement. As we enter this final R/OHDA application cycle for the fiscal year, AHFC hopes to deploy as much of these funds as possible for the construction of affordable housing.

For more information, visit AustinTexas.gov/HPD.

About Austin Housing Finance Corporation
The Austin Housing Finance Corporation (AHFC) was created as a public, non-profit corporation and instrumentality of the City of Austin. The mission of the AHFC is to generate and implement strategic housing solutions for the benefit of low- and moderate-income residents of the City of Austin.

About Housing and Planning Department
The Housing and Planning Department provides resources related to planning, zoning, housing, and community development to enhance the quality of life of all Austinites. Equitable, efficient, and comprehensive planning with displacement prevention as a prioritized focus is the Department’s core charge in delivering housing services to the community.

###
 

Share

City of Austin

Footer Menu

  • Get information or assistance
  • Give feedback on our website
  • Site Map
  • Public Records
  • City Council Message Board
  • Facebook
  • Twitter
  • LinkedIn
  • Instagram
  • YouTube
  • RSS

Second Footer Menu

  • Visit Austin
  • City Directory
  • Jobs
  • Legal Notices
  • Privacy Policy
  • Facebook
  • Twitter
  • LinkedIn
  • Instagram
  • YouTube
  • RSS