Travis County assigns $10 million in state volume cap to TDHCA for homebuyer assistance program
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Summary
The Travis County Housing Finance Corporation approved assigning private activity bond authority and $10 million in state volume cap to the Texas Department of Housing & Community Affairs to continue a single-family homebuyer assistance program that has aided 51 households to date.
At the June 27 session, the Travis County Housing Finance Corporation approved an assignment of private activity bond authority to the Texas Department of Housing and Community Affairs and authorized filing for a $10 million allocation of state volume cap to expand a single-family homebuyer assistance program.
Christy Moffett, assistant secretary with the county corporations, briefed the court. "As of March 31, 51 homes or 51 households have been assisted, and I am happy to say within Travis County," Moffett said, and added the program has served a significant portion of people of color seeking homeownership.
The action authorizes the county corporation to provide TDHCA with $10 million of the county's volume cap to continue the program, which leaders said will augment existing funds available for down-payment or homebuyer assistance. Moffett asked the court to approve the documentation so the county can submit it to TDHCA and keep the program operating.
Commissioners asked for a fuller briefing at a later date with more details on eligibility, program capacity and how many additional households the allocation might assist. The court approved the action unanimously.
County staff said they can return with a more detailed briefing tailored to commissioners’ questions about eligibility, demographic outcomes and projected household counts served by the additional allocation.