Texas Posts New Multifamily Compliance Guidance Related to COVID-19, Draft 2021 Initial Ceiling Summary

In response to recent HUD guidance, the Compliance Division of the Texas Department of Housing and Community Affairs (TDHCA) posted updated guidance related to COVID-19. Please read the document in its entirety for updates.

If you have questions related to onsite monitoring, please contact Wendy Quackenbush, director of Compliance Monitoring at wendy.quackenbush@tdhca.state.tx.us or directly at (512) 305-8860.

If you have questions related to physical inspections, please contact Cody Campbell, manager of Physical Inspections, at cody.campbell@tdhca.state.tx.us or directly at (512) 475-4603.

TDHCA also posted the draft 2021 Initial Ceiling Summary in preparation for the 2021 nine percent LIHTC application cycle. The draft 2021 Initial Ceiling Summary is otherwise referred to as the DRAFT 2021 State of Texas Competitive Housing Tax Credit Estimated Allocation, and Sub-Regional Request and Elderly Funding Limits. As detailed in the Summary, this new posting reflects the estimated nine percent LIHTC ceiling that the Department expects to have available for allocation during the 2021 cycle. This initial ceiling has been estimated using the 2021 cap rate of $2.81 (IRS Rev. Proc. 2020-45). At this time, this cap rate has been used in conjunction with the 2020 population figures provided by the IRS. The population figure will be updated upon publication of the 2021 IRS population amount. Additionally, the “Elderly Funding Limits” have been calculated using the 2020 HISTA data, which will also be updated using 2021 HISTA data once received by the Department.

The 2021 Estimated Allocation, and Sub-Regional Request and Elderly Funding Limits will continue to be updated as credits are returned during the year. For questions regarding this item or the Competitive Housing Tax Credit Program, please contact Alena R. Morgan at alena.morgan@tdhca.state.tx.us or 512-936-7834.