Retooling Affordable Housing Strategies – Part 9 of 19
Flynn stresses that PAB programs are more likely to succeed if they have Trading Master Plan professional staff or consultants who understand how to structure a bond deal, know the real estate market, and learn from the successes and mistakes of other local issuers. Texas has 82 housing finance corporations throughout the state. Not all are active, but according to Flynn, if conditions are favorable, more of these organizations could impact a great number of low- and moderate-income residents, even in rural areas, where HUD income limits are lower, making bond financing more difficult.
Housing Trust Funds
Housing trust funds—public revenues set aside by cities, counties or states for affordable housing development—have exploded across the country; since 1990, over 500 new ones have emerged (Figure 1). Texas has not kept pace with the rest of the nation. It has only three: one in Austin, one in San Antonio and a statewide one created by the Legislature Predict Market Turning Points and housed at TDHCA in Austin. The city of Fort Worth is close to finalizing plans for a housing trust fund this year.
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