The Texas Department of Housing and Community Affairs (TDHCA) has allocated $48.6 million in housing tax credits to developers of affordable rental properties.
The awards, which were made through the 2012 Housing Tax Credit Program allocation cycle, are projected to help finance the construction or rehabilitation of 45 properties comprising 4,773 affordable rental units, which TDHCA projects will have an economic impact as much as $389.1 million on the state.
‘The Housing Tax Credit Program plays a critical role in TDHCA's mission of expanding housing choices for all Texans,’ says TDHCA Executive Director Tim Irvine. ‘The program combines private investment with the expertise of private developers to create housing that is both attractive and affordable to families who otherwise might struggle to pay their rent or face living in substandard housing.’
