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 TDHCA (Web).
- 9% Tax Credit Applicants
- 4% Tax Credit Applicants
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 (Web) to receive City support.
- RHDA Resources
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 (Web) to receive City support.
- OHDA Resources
Current and Past RHDA/OHDA Applications
Applications for RHDA and OHDA assistance for affordable housing support are available on the Application Listing Webpage. 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 Austin Housing Finance Corporation (AHFC) or Austin Housing Public Facility Corporation (AHPFC) to finance multi-family developments. The issuer 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 AHFC or the AHPFC are repaid through rents collected at the bond-financed property, not by the City of Austin or its taxpayers.
Private Activity Bond financing is regulated by the Internal Revenue Service and administered at a statewide level. In Texas, Private Activity Bonds are administered by the Texas Bond Review Board. Potential applicants for Private Activity Bonds should ensure they are familiar with the Bond Review Board’s Private Activity Bond policies and calendar as well as the program rules.
- Private Activity Bonds Application & Guidelines
Applicants requesting PABs issued by AHFC or AHPFC for the 2024 PAB Lottery must submit their Multi-Family Bond Applications no later than Wednesday, August 9. Applications may be submitted to Brendan Kennedy via email to Brendan.Kennedy@austintexas.gov.
Issuer staff will review each application upon receipt. If the Issuer Board approves an Inducement Resolution, then an application will be prepared for the Bond Review Board’s Lottery application window, which is open from October 5th - 20th. Applications for the Lottery may receive a reservation at any point in the 2024 calendar year, with a 6-month period after reservation in which to close on PAB financing. Applicants for the 2024 Lottery should be prepared to close as early as July 2024 or as late as February-March 2025. Reservation timing will vary based on Lottery results; Lottery applicants are not guaranteed to receive a PAB reservation during a program year.
Applicants who do not wish to participate in the 2024 Lottery should reach out to Housing Dept. staff directly.
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.
- CHDO Applications & Guidelines
For more information, contact HPD at HPD@austintexas.gov or by phone at 512-974-3100.