Governor Greg Abbott today announced today that the Texas Department of Housing and Community Affairs (TDHCA) has awarded over $95 million in housing tax credits to help finance the development or rehabilitation of more than 60 rental properties, offering reduced rents and increased housing options for Texans throughout the state.
This, according to a press release from the Governor’s Office.
These awards have an approximate value of $955 million over a 10-year term. Provided through the TDHCA Housing Tax Credit Program (HTC), these awards will help developers construct or rehabilitate more than 4,400 units offering affordable rent to households earning up to 80% of the median family income in their respective areas.
Navasota Manor, which is considered an elderly community with 40 low-income units, is among those receiving money from this award.