Establishes the workforce housing program by the Texas Department of Housing and Community Affairs.

The bill establishes the workforce housing program by the Texas Department of Housing and Community Affairs. The program provides financial assistance to developers of multifamily housing to facilitate the construction and rehabilitation of eligible workforce housing developments. The assistance is offered in the form of low-interest loans, which must be structured as mezzanine real estate loans and cannot exceed 20 percent of the initial construction or rehabilitation costs.

Establishes the workforce housing program by the Texas Department of Housing and Community Affairs.

The bill establishes the workforce housing program by the Texas Department of Housing and Community Affairs. The program provides financial assistance to developers of multifamily housing to facilitate the construction and rehabilitation of eligible workforce housing developments. The assistance is offered in the form of low-interest loans, which must be structured as mezzanine real estate loans and cannot exceed 20 percent of the initial construction or rehabilitation costs.