TAAHP requests 2022 housing tax credits to offset increased construction costs

Earlier this month, TAAHP sent a letter to the Texas Department of Housing and Community Affairs regarding the sharp rise in construction costs. In the letter, TAAHP reiterated its request that TDHCA earmark $5 million in 2022 credits to assist with 2019, 2020, and 2021 deals experiencing significant hardship to ensure the addition of housing supply is not delayed further. To compensate for this sum, TAAHP proposed a penalty of 20 cents per dollar of credit from the developer’s 2022 cap.