Loan and Grant Programs Texas State Affordable Housing Presented by:       David Danenfelzer, Senior Director Texas State Affordable Housing Corporation

TSAHC Loan and Grant Programs Texas Foundations Fund Texas Housing Impact Fund

Texas Foundations Fund Matching grant program for nonprofit partners that meet certain threshold requirements. Nonprofits can apply to be a partner every two years 25 partners were selected for the 2016-18 cycle Total grant funding in 2016 was $302,500, and total grant funding in 2017 was $318,000 Eligible activities are: accessibility modifications and/or critical repair of single family homes supportive housing services at multifamily rental properties. Funds must serve individuals or families at or below 50% of Area Median Family Income (AMFI), with emphasis on serving rural communities and persons with disabilities.

Texas Foundations Fund Since 2008, awarded nearly $3 million in grants to nonprofits, who have assisted nearly 10,000 individuals and families. Critical Repairs Include: 31 Interior Accessibility Modifications 2 Lead-Based Paint Removals 43 Disaster Relief Repairs 8 Home Reconstructions 31 Roofs 106 Health and Safety Repairs 11 Room Additions 48 Wheelchairs Ramps Supportive Housing Services provided: 6,772 Single Adults 923 Families with children 20 Youth Aging Out of Foster Care

Texas Housing Impact Fund Perm Loans For multifamily properties and single-family rental portfolios requiring long-term financing. Gap financing on larger developments. Construction Loans For new construction and rehab developments. Gap or bridge financing on larger developments Revolving Lines of Credit Construction or rehab of affordable for-sale single-family homes, condos, etc. Funds can be drawn down and reused on multiple units during loan term.

Texas Housing Impact Fund Perm Loans Up to $3 Million 5 to 15 Year Agreement Fixed Interest Rate Construction Loans Up to $2 Million 24 Month Agreement Fixed Interest Rate Revolving Lines of Credit Up to $1 Million 24 Month Agreement Fixed Interest Rate

Texas Housing Impact Fund Perm Loans Rural Impacts – 366 Units financed in 8 properties. Avg. size of property is 45 units. Most properties mixed financing with bonds or USDA. Construction Loans Rural Impacts – Most properties converted to perm after rehab or construction. $6 million lent in rural areas. Revolving Lines of Credit Rural Impacts – $1.9 million lent in rural communities. 63 homes rehabbed or newly built.

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