Kicks Off Multi-Family Affordable Rental Property
ProgramWith Newly Released Recovery Funding
AUSTIN – Today Texas Land Commissioner George P. Bush announced $250 million in available Community Development Block Grants for Disaster Recovery (CDBG-DR) funds to help rehabilitate, reconstruct and construct multi-family rental homes damaged by Hurricane Harvey. The funding for this Texas General Land Office (GLO) program is in addition to the $10 million dedicated to multifamily rental developments in the previous $57.8 million Harvey allocation to help rebuild affordable housing in the Coastal Bend region.
“The GLO remains committed to returning all coastal Texans home as quickly as possible,” said Commissioner Bush. “The Affordable Rental Property Program will improve local housing inventory and ensure low income citizens and families have a safe, habitable, and affordable place to live.”
The GLO will begin hosting workshops this week for property owners interested in applying. There will be a 90-day application submission period to begin on July 23, 2018. Rehabilitation applications received prior to or on August 22, 2018, will receive priority status.
Workshop dates, times and locations:
Thursday, July 12:
|Location:||Dickinson City Hall, 4403 TX-3
Dickinson, TX 77539
|Location:||Lamar University, CICE Building, room 113
5091 Rolfe Christopher Drive, Beaumont, TX 77705
Friday, July 13:
|Location:||Wharton Civic Center, O’Quinn Room
1924 N Fulton St, Wharton, TX 77488
|Location:||Rockport Service Center
City of Rockport Building and Development Department
2751 HWY 35 N, Bypass, Rockport, TX 78382
Monday, July 16:
|Location:||City of Conroe Tower (City Hall)
300 West Davis, Conroe, TX 77301
6th Floor of the Conroe Tower, Conference Room
Wednesday, July 18:
|Location:||Stephen F. Austin Building, Room 170
1700 N. Congress Avenue, Austin, Texas 78711
Multi-Family Affordable Rental Program Information:
- $250 million allocation managed by the GLO for affordable housing rental for rehabilitation, reconstruction and new construction.
- If property is in one of the 48 eligible counties and was damaged by Hurricane Harvey – minor or severe – you can apply for grant fund assistance.
- 20-year CDBG-DR affordability program to ensure low income citizens and families of Texas have a safe, descent, and affordable place to live.
- Public or privately owned multifamily structures – 8 units or more are eligible.
- At a minimum, 51% of the units must target residents with income levels at 80% or less of the area median income.
- The allocation minimum is $250,000 and the allocation maximum is $25,000,000 per award.
- Application acceptance period: July 23, 2018 – October 23, 2018.
- Project construction must be completed within 18 months of the effective date of the contract.
Developments located within the city limits of Houston and/or within Harris County are ineligible as these entities received direct allocations from which programs such as this may be funded.
For more program specific information please visit TexasRebuilds.org.