Affordable housing developers are encouraged to apply before Dec. 17.
Affordable housing developers in Austin looking to participate in the Texas Department of Housing and Community Affairs’ (TDHCA) Housing Tax Credit (HTC) Program for the 2019 cycle are encouraged to submit applications for City of Austin supportive resolutions to the Neighborhood Housing and Community Development (NHCD) Department before the Monday, December 17 deadline.
The Housing Tax Credit (HTC) Program is one of the primary means that the State and City work together to direct private capital to developing and preserving affordable rental housing for low-income households. Tax credits—both competitive (9% ) and non-competitive (4%)—are a form of equity financing for the preservation or construction of affordable rental housing. TDHCA awards tax credits to eligible developers, who then sell those tax credits to investors, who use the tax credits to offset a portion of their federal tax liability.
A resolution of support from the City of Austin is required for state consideration. To submit a request, applicants must complete the 2019 9% Tax Credit Request form. All required attachments must be submitted with the request.
Requests should be submitted to Neighborhood Housing and Community Development, 1000 East 11th Street, 2nd Floor, Austin, TX 78702 to the attention of Ellis Morgan. For more information, contact Ellis Morgan at 512-974-3121 or by e-mail at email@example.com. E-mailed submissions are acceptable in PDF format.
Also required for state consideration is a commitment of funding from the City. The City of Austin will continue the policy of providing these commitments in the form of waived fees through the S.M.A.R.T. Housing Certification program. Letters from the City of Austin regarding waived fees will comply with the requirements of the 2019 Qualified Action Plan and will be provided to applicants if the development qualifies for S.M.A.R.T. Housing Certification.
Applications for S.M.A.R.T. Housing Certification must go through a separate process; applications for S.M.A.R.T. Housing Certification can be found here and must be submitted no later than 5 p.m. Friday, January 18, 2019. For more information on the S.M.A.R.T. Housing Program, email Sandra Harkins, Project Coordinator, at firstname.lastname@example.org.
Communications and Public Information Office
301 W. 2nd Street, Austin, TX 78701