AUSTIN – The Texas Department of Housing and Community Affairs (TDHCA) has announced statewide funding awards through the 2016 Housing Tax Credit Program.
TDHCA will provide $65.3 million in housing tax credits to private developers constructing or rehabilitating 64 properties across the state.
The properties will offer rents affordable to households earning up to 60 percent of the area median family income. The credits are expected to help finance approximately 5,000 affordable units across the state.
According to TDHCA Executive Director Tim Irvine, the combined construction payroll salaries, local purchases, and taxes and fees the program generates could have as much as a $932.8 million impact on the Texas economy.
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