Establishes the workforce housing program to provide financial assistance to developers for multifamily housing.
The bill establishes the workforce housing program by the Texas Department of Housing and Community Affairs. It provides financial assistance to developers of multifamily housing for construction and rehabilitation of eligible workforce housing developments. The program offers low-interest loans below market rates, structured as mezzanine real estate loans. Developers must spend the assistance on the development within 36 months. The workforce housing fund, a special account in the state treasury, finances the program.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.