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The Texas Department of Housing and Community Affairs is the state agency responsible for affordable housing, community and energy assistance programs, colonia activities, and regulation of the state's manufactured housing industry. The Department currently administers $2 billion through for-profit, nonprofit, and local government partnerships to deliver local housing and community-based opportunities and assistance to Texans in need. The overwhelming majority of the Department's resources are derived from mortgage revenue bond financing and refinancing, federal grants, and federal tax credits.
The Department is not rated. Single family mortgage revenue bonds and notes are issued under two master indentures, the Single Family Mortgage Revenue Bond (SFMRB) Indenture, and the Residential Mortgage Revenue Bond (RMRB) Indenture. Multifamily mortgage revenue bonds and notes are conduit debt; each issue is stand-alone, with no master indenture.
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MARSHALL, Texas (KSLA) — A nonprofit foundation in Marshall is offering some east Texas residents help with rental assistance.
The Tracy Andrus Foundation has operated for about two years with the goal of helping people in need get back on their feet. The nonprofit received $500,000 from the Texas Department of Housing and Community Affairs to help Texans recover from the impacts of COVID-19.
“We can pay up to six months of late payments for anyone who is behind. If you’ve been affected by COVID-19, that’s what the state gave us the money for is half a million dollars and we’re able to help you out,” said Tracy Andrus, the foundation’s executive director.
Through his foundation, Andrus encourages people to be the best version of themselves, regardless of their backgrounds.
“This foundation was birthed out of the experiences that I had. I once was on the wrong side of the road, ended up in prison with a 57-year prison sentence. I did my time in Louisiana and Texas. And when I was released from prison in 1994, my hope was to be able to reach back and help somebody so they wouldn’t have to go down the same path that I went down,” he explained.
Residents of Harrison County, Shelby, Sabine, and San Augustine counties are eligible to apply for assistance.
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MIDLAND Texas (Nexstar) – The largest oil producer in Texas, Pioneer Natural Resources donated more than 35 acres of land to Midland Habitat for Humanity* that is valued at almost $2 million.
“At Pioneer, we have a long-standing belief in the importance of supporting the communites where our employees live and work, and our partnership with Midland Habitat for Humanity exemplifies that commitment,” said Pioneer Natural Resources President & Chief Operating Officer Rich Dealy.
This donation happened on Giving Tuesday.
“So, on this Giving Tuesday, we’re excited to make this donation of land to Midland Habitat for Humanity so it, along with Pioneer and its many other community supporters, can continue to make a lasting impact in the Midland Community,” say Dealy.
According to the press release, this is not the first time Pioneer has helped Midland Habitat for Humanity. Back in 2012 until now they have built six houses and giving it’s employees $437,000 to the agency and have donated thousands of hours in labor to help make the dream of home ownership attainable for those most in need.
“Pioneer’s donation will be the single largest land donation we have ever received and will allow us to build the largest subdivision we have ever built,” said Joey Hopkins, executive director of Midland Habitat for Humanity. “And that subdivision has the potential to be the largest affordable housing development in Midland.”
*Midland Habitat for Humanity is a TDHCA-certified Nonprofit Owner-Builder for the Texas Bootstrap Loan Program.
by: Bridget Sarpong
Posted: Dec 2, 2021
Enterprise Community Partners announced the closing of Enterprise Housing Partners Funds XXXVI (EHP 36) and XXXVII (EHP 37), two Low-Income Housing Tax Credit (housing credit) funds.
With commitments totaling $365 million from 17 investors, the two funds will help create and preserve 3,526 affordable rental homes across 35 properties in 17 states.
These are the third and fourth in a series of multi-investor housing credit funds Enterprise has closed in 2021, bringing the combined total investment this year to $800 million in nearly 8,000 affordable rental homes across the country.
“As rents continue to rise, the Low-Income Housing Tax Credit remains our most powerful tool for creating affordability in every type of community,” said Scott Hoekman, president of Enterprise’s housing credit investments business. “Our investors come to us with the intent to make a real impact, and with their support we are able to channel critical resources into creating and preserving thousands of affordable homes nationwide.”
The 35 properties included in EHP 36 and EHP 37 are located in California, Florida, Georgia, Idaho, Illinois, Louisiana, Maryland, Massachusetts, Missouri, New York, North Carolina, Ohio, Pennsylvania, Texas, Virginia, Washington, and Wisconsin. The funds will also create an estimated 5,750 jobs that will lead to an estimated $370 million in wages and salaries for American workers, as well as an estimated $146 million in income for small businesses.*
Two properties that are representative of the wide range of investments from EHP 36 and EHP 37 are Bridge at Turtle Creek*, a new development (pictured top) of 307 apartments in Austin, Texas, and Skagit County PSH, a new 70-apartment development for formerly homeless individuals in Mt. Vernon, Washington.
As housing costs skyrocket in Austin, Bridge at Turtle Creek (EHP 36), a new 5-story development, will provide 134 studio, 96 one-bedroom, and 77 two-bedroom affordable apartments. The development will be Austin Energy Green Building certified. The property includes a fitness room, courtyard and grilling area, and an indoor lounge with kitchen. JCI Residential and the Austin Affordable Housing Corporation are the developers, and the project is scheduled to be completed in April 2023.
Skagit County PSH (EHP 37) is a new four-story building in Mt. Vernon, Washington that will provide 70 apartments for formerly homeless individuals in this Puget Sound community. The property will set aside 25 units for people experiencing mental illness, 10 for formerly homeless individuals recovering from substance abuse and five for formerly homeless veterans. The apartments will provide permanent supportive housing, which includes support services that help people stay stably housed for the long term. Two apartments will receive project-based Veterans Affairs Supportive Housing vouchers through the Housing Authority of Skagit County, while the remaining 68 apartments will receive an annual rental and operating subsidy from Skagit County. The developer for Skagit County PSH is Catholic Housing Services, and the project is scheduled to be completed by February 2023.
*Estimates of jobs and economic impact are rounded and based on national multipliers created by the National Association of Homebuilders in 2020, based on analysis of Enterprise investment data. These estimates assume local investments generate jobs, tax revenue and business earnings on par with national averages.
*Bridge at Turtle Creek is a 2020 4% HTC recipient.