The TDHCA convened its board meeting at 10:03 am on May 11, 2023, at the Greer Bldg, 125 East 11th Street Austin, Texas 78701.

May 11 Meeting Summary

TAAHP Staff attended the board meeting and summarized its main takeaways. TDHCA has uploaded the video recording if you would like to watch full meeting.

Consent Agenda report approved. The board went into an executive session from 10:05 AM until 10:21 AM


  • TDHCA has been monitoring legislation that would impact their department. They are on call to provide assistance to legislature or governors office.
  • Texas Rent Relief – ERA final report was sent to treasury on April 27. $1.2 billion in rental and utility assistance to 200,000 eligible Texas households. Rent relief left to disperse 40 million in ERA funds.
  • Homeowner assistance fund (HAF) is active. The HAF program is federally funded that can help Texan residents with overdue mortgage payments, property tax, homeowners’ insurance, HOA fees and now recently utilities assistance. Half has been funded or approved. TDHCA has approved funding for 37,000 households. They have disbursed over $421 million, with an additional $1.2 million in progress. Average $11,173 assistance per household.
  • TDHCA budget approved in the TX House. Awaiting Senate.
  • Supreme court extended emergency order for the Texas Eviction Immersion program.
  • Virtual Compliance roundtable on April 14. They discussed emergent issues such as average income reporting and INSPIRE new physical inspection. There were 77 participants.


AGENDA ITEMS 15-18: Multifamily Bond Finance

  • Board approved the Issuance of Multifamily Housing Revenue Bonds Series 2023 & a determination notice of 4% housing tax credits for Palladium McKinney (No. 23-023), The Rhett (No. 23-025), and North Grand Vilas (No. 23-026). And an Issuance of a Multifamily Housing Governmental Note – Worthington Point Apartments (No. 23-024).


Agenda Item 20

  • Board approves staff recommendation to adopt the material amendment request from the Oaks Loft Crossing (HTC #22091).


Agenda Item 21

  • Board adopts staff recommendation to approve the Multifamily Direct Loan assumption, modification, and re-subordination for Timbers Edge Apartments.


Agenda Item 22

Presentation, discussion, and possible action regarding a waiver of 10 TAC §11.9(b)(2)(A) for Campanile on Minimax (HTC #21292)

Campanile on Minimax (Development) received a 9% Housing Tax Credit (HTC) award in 2021 and supplemental credits in 2023 to construct 117 multifamily units for the elderly, of which 93 are HTC units, in Houston, Harris County.

  • The owner is seeking to revise the ownership structure by changing the current General Partner, which is partly owned by a HUB, to a Special Limited Partner and adding a new General Partner that is owned by APV Redevelopment Corporation, a nonprofit corporation formed by the Houston Housing Authority, which will allow the Development to receive a property tax exemption.
  • Board approval of a waiver is required because 10 TAC §11.9(b)(2)(A) specifies that the HUB is required to have an ownership interest in the General Partner. The HUB will remain in the ownership structure as a 40% member of the Special Limited Partner and retain certain control rights under the partnership agreement and will continue to materially participate in the Development.
  • The Owner explained that these changes are necessary due to the continued labor shortages, increased material costs, and increasing interest rates.
  • The project’s construction bid increased by $7,695,273 since they were awarded the tax credits in July 2021.
  • As a result, the Owner applied to TDHCA for Supplemental Credits and for Direct Loan funds (2023 NOFA) of $7,995,000 and applied to the Houston Housing Authority for a tax exemption and Project-Based Vouchers.
  • The City of Houston did not allocate GLO funds to this project.
  • David Northern, CEO of Houston Housing Authority (HHA), provided public testimony. HHA provided 31 project-based vouchers to this project for 30% AMI senior tenants.
  • The Houston Mayor has put a moratorium on PFC deals. But has given the green light for this property tax-exempt project. He understands that this is a housing tax credit development deal not a PFC.
  • The Houston Housing Authority will own the land and serve as the general partner.
  • TDHCA Chairman concerned about the lack of transparency with the APV entity. Lawyer states that APV entity is just a legal instrument needed to close the transaction.
  • TDHCA Director reminded the board that TDHCA does not approve property-tax exemptions. They just approve the ownership restructuring. He stated that this will be the first of several requests to save certain tax credit deals currently facing significant cost increases.
  • Board votes to table the item to a future meeting.


Agenda Item 23

Presentation, discussion, and possible action regarding a waiver of 10 TAC §11.9(b)(2)(A) for Westwind of Dumas (HTC #20272).

  • Owner requests approval to revise the HUB requirement for the Development to specify that the HUB must remain in the ownership structure and have an ownership interest in the Special Limited Partner in order to continue to meet the intent of 10 TAC §11.9(b)(2)(A) to have a HUB materially participate in the Development.
  • Board approves the rule waiver request.


Agenda Item 25

Report on Status of TDHCA HOME American Rescue Plan (HOME-ARP) Program.

  • TDHCA was allocated $132,969,147 of funds from HUD under the HOME-ARP Program. HOME-ARP focuses primarily on homeless and other high-risk populations to retain or regain housing stability. Funds have been programmed into development of affordable rental housing, non-congregate emergency shelter, and operating costs and capacity building for eligible nonprofit organization.


Rental Fund Status

  • $10M was set-aside for 2020/2021 National Housing Trust Fund (NHTF) Developments at risk of returning funds due to cost increases.
    • $6,318,646 awarded to Burnet Place Apartments Application 22722
    • Approx. $1.8M in pending award to Samano Apartment Application 22721 expected to be presented at June 2023 Board meeting.
    • Remaining $1.8M was re-programmed into the 2023 HOME-ARP Rental NOFA
  • $51,708,757 (as amended with re-programmed funds from set-aside and half of NCO funds) released in 2023-2 HOME-ARP Rental Housing NOFA
    • Opened in December 2022
    • NOFA suspended due to oversubscription ($120.3M in requests) on February 16, 2023, and NOFA closed on March 1, 2023.
    • Initial $3.3M in nonprofit capacity building/operating cost assistance to support developments was moved into rental development activity.
    • First awards are being presented at May 2023 Board meeting.

Agenda Item 27

Board adopts staff recommendation to approve the referenced awards, as conditioned, from the 2023-2 HOME American Rescue Plan Rental Notice of Funding Availability (NOFA).

TDHCA HOME-ARP Staff are recommending approval of two HOME-ARP applications, which are both layered with 2023 4% Housing Tax Credits (HTC), and subject to specific Bond reservations and deadlines.

  • Canterbury Crossing (Abilene) – $8.95 M – Rehab project with HOME-ARP & 4% HTCs
  • Kensington (Austin) – $6M – Rehab project with HOME-ARP & 4% HTCs

TDHCA Staff will recommend approvals at a later date for other eligible applications, including Developments that are requesting only HOME-ARP funds, or are requesting HOME-ARP layered with 2022 9% HTCs, in accordance with the NOFA requirements (as amended).


Agenda Item 28

TDHCA Annual Performance Measure report from the Second Quarter of 2023.

The performance measure report from the second quarter of Fiscal Year 2023 reflects how the Texas Department of Housing and Community Affairs (TDHCA) has done in meeting its performance measures.

  • TDHCA staff provides these reports quarterly to the Legislative Budget Board (LBB) and these reports will be included in future Board meeting books following their submittal to the LBB.
  • Board heard the report and takes no further action.


Meeting adjourned at 1:47 pm

The next TDHCA board meeting is on June 15, 2023.