The Texas State Affordable Housing Corporation (TSAHC) is a nonprofit affordable housing provider in Texas.Texas State Directory. "Texas State Affordable Housing Corporation". Retrieved on July 10, 2013.
Mission
According to its website, the organization's mission is to "serve the housing needs of low-income families and other underserved populations in Texas who do not have acceptable housing options through conventional financial channels."Texas State Affordable Housing Corporation."About Us". Retrieved on June 7, 2013.
Organization oversight
TSAHC's five-member Board of Directors is appointed by the Governor of Texas. The agency also undergoes reviews by the state of Texas as part of the Texas Sunset Act and will undergo its next Sunset Review in 2027.
Lemuel Williams is Chair of the Board of Directors.
Programs and services
Homeownership programs
Provides fixed-rate mortgage loans, down payment assistance, and mortgage credit certificates for qualified home buyers."Texas State Affordable Housing Corporation". Retrieved on July 31, 2013. TSAHC also operates the Texas Financial Toolbox consumer website.Office of Representative Eddie Lucio III. "Rep. Eddie Lucio III Announces Launch of the Texas Financial Toolbox". October 2, 2012. Retrieved on July 11, 2013.
Down Payment Assistance programs are all different with certain requirements for each. State or local housing authorities, a non-profit organization, or lender usually set the requirements and conditions for the DPA program. Some programs require you or your loan officer to take a short course on Down Payment Assistance for first time home buyers."Down Payment Assistance"
Affordable Communities of Texas (ACT) Program
A statewide land bank/land trust program. TSAHC acquires foreclosed and vacant properties from financial institutions and partners with local entities to sell or lease them as affordable housing.Enterprise Community Partners, Inc."The Challenge of Foreclosed Properties: An Analysis of State and Local Plans to use the Neighborhood Stabilization Program". p. 37. Retrieved on July 11, 2013.
Texas Housing Impact Fund
Provides financing to developers to build or rehabilitate housing for low-income households.Texas Department of Housing and Community Affairs. "2013 State of Texas Low Income Housing Plan", p. 294. Retrieved on July 10, 2013.
Multifamily Private Activity Bond Program
TSAHC issues tax-exempt multifamily private activity bonds to finance multifamily rental housing projects that meet one of the following priorities: 1) at-risk preservation and rehabilitation, 2) rural and smaller urban markets, 3) senior and supportive housing developments, or 4) disaster relief housing.Texas Department of Housing and Community Affairs. "2013 State of Texas Low Income Housing Plan", p. 296. Retrieved on July 10, 2013.
Texas Foundations Fund
A grant-making program that offers grants to nonprofit organizations to support the following services: 1) critical home repairs, and 2) supportive housing services for households at risk of homelessness.Office of Representative Roberto Alonzo. "Representative Roberto R. Alonzo's Capital Report". Volume 6 Issue 33, August 13, 2012. Retrieved on July 12, 2013.
Housing Connection Initiative
Provides training to nonprofits that develop affordable housing and provide home buyer and financial education.Texas State Affordable Housing Corporation "Texas Statewide Homebuyer Education Program." Retrieved on July 12, 2013.
Funding sources
TSAHC issues mortgage revenue bonds and other private activity bonds to fund its affordable housing programs.Texas Department of Housing and Community Affairs. "2013 State of Texas Low Income Housing Plan", p. 289. Retrieved on July 10, 2013. The organization also seeks grants and other private investments from both private contributors and government entities to support programs not funded through private activity bonds.Texas Department of Housing and Community Affairs. "2013 State of Texas Low Income Housing Plan", p. 299. Retrieved on July 10, 2013.
References
External links Texas State Affordable Housing Corporation Texas Financial Toolbox