Here is a brief overview of the Texas Credit Assistance Program and how it is shaping up in Texas. Federal Program Highlights: Funding: 2.25 Billion Administering Agency: HUD Fund must be spent by 2/17/2012 Texas Program Highlights: Funding: 148 Million Administering Agency: TDHCA Awards expected by 12/17/2009 The 2009 Stimulus Bill (American Recovery and Reinvestment [...]

The 2009 Stimulus Bill (American Recovery and Reinvestment Act of 2009) contained a provision allowing the limited exchange of tax credits granted under the Low- Income Housing Tax Credit (LIHTC) program for cash grants. In Texas, the Texas Department of Housing and Community Affairs (TDHCA) recently adopted a policy providing incentives for developments to increase [...]

The Low Income Housing Tax Credit Program is the program that produces, by far, the largest number of affordable housing units in Texas each year. The tax credits are awarded to housing developers by the Texas Department of Housing and Community Affairs (TDHCA) through a competitive process. The rules for that process are set out [...]

The Board of Directors of the Texas Department of Housing and Community Affairs approved today a plan to use the Tax Credit Exchange Program (TCEP) to provide financial incentives to low income housing tax credit (LIHTC) developers to provide 10 percent to 20 percent more apartments in their new developments for Texans with incomes at [...]

I haven’t discussed it much yet, but there’s a lot to be said about the new Low Income Housing Tax Credit Exchange Program (TCEP) recently authorized by the federal government. One of the things that needs to be said immediately is that as the state begins to structure how it is going to operate the [...]