TSAHC Newsletter | May 2018

May 2018 Newsletter

Applications Open for Two Grant Programs

Applications are currently open for grants through two programs. Please find details for each of these programs below.

The first grant opportunity is through the Housing and Economic Assistance to Rebuild Texas progra m (HEAR T). The HEART program, created by TSAHC and Enterprise Community Partners, provides grants of up to $50,000 and technical assistance to nonprofits providing housing assistance to families displaced or otherwise affected by Hurricane Harvey. These grants ar e made possible through a generous gift from the Rebuild Texas Fund .

APPLY FOR A HEART GRANT

The second grant opportunity is through our Texas Foundations Fund program. Through this program, TSAHC partners with nonprofit organizations to support housing services that meet critical housing needs of very low-income Texans.

In 2018, the Texas Foundations Fund will provide matching grants to selected partners during a

two-year period for a specific program.

To qualify as a partner and be eligible for matching grants, nonprofit organizations must fill out a partner application . These are due by Friday, June 1st at 5:00 p.m.

APPLY TO BE A TEXAS FOUNDATIONS FUND PARTNER

TSAHC Celebrates Grand Opening of The Chicon

On Saturday, May 19th, TSAHC participated in the grand opening of The Chicon with representatives from the City o f Aust in , Texas Capital Bank , and Frost Bank. Developed by Chestnut Neighborhood Revitalization Corporation, The Chicon features 28 single-family residences across two buildings, and 21 of them are for households whose income is 80 percent or below area median income. These units will remain affordable for future generations because of restrictive covenants.

With support from our partner Texas Capital Bank, TSAHC provided $2 million in construction financing for the development of The Chicon through our Texas Housing Impact Fund .

Thank You for Supporting TSAHC

TSAHC would like to thank and recognize our latest supporters for their generous contributions. All donations will support our Housing Connection initiative for nonprofit housing organizations that includes a week long training in San Antonio in June 2018.

$500 Donations

Tom Sawyer

TSAHC-Approved Lender

Pam Anderson

TSAHC-Approved Lender

$100 Donations

Jamie Slagel, REALTOR®

Slagel Management

John Wren, TSAHC-Approved Lender

Certainty Home Loans, LLC

Registration Open for Housing Connection Training

June 11 - 15 in San Antonio

You can still register for our Housing Connection training. These classes are for nonprofit housing and financial counselors as well as affordable housing developers. TSAHC has contracted with NeighborWorks America to offer the following courses:

HO211: Credit Co unseling for Maximum Results (Monday-Wednesday) -$75

AH121: Real Estate Finance Nuts and Bolts (Thursday) - $50

AH226: Creative Project Financing Strategies (Friday) - $50

Deadline to Register: Monday, May 28th

REGISTRATION

Thank you to our Housing Connection Supporters!

Upcoming Events

June 6 - 7 in Austin - Rural Housing Preservation Academy, Session 4: Preservation Financing and Deal Structuring Continued Event Page and Registration

June 11 - 15 in San Antonio - Housing Connection Training More Information and Registration

June 26 in Lubbock - "Overcoming the Down Payment Hurdle" hosted by Peoples Bank. The free, interactive session provides one credit of mandatory continuing education (CE) for REALTORS®. More Information and Registration

Below are May 2018 excerpts from On the House , a blog TSAHC launched in 2014 on affordable housing topics. We invite you to drop by On the House as we explore important issues, provide an inside look into our programs, and share other valuable resources.

Housing and its Effect on our Health

The quality of a person’s housing can have a significant impact on their health. The Urban Health Collaborative of Drexel University in conjunction with the Home Preservation Initiative recently conducted a study to monitor the effects of housing conditions on residents’ physical and mental health. The study evaluated residents before and after receiving home repairs specifically to understand the impact of the repairs in improving the residents’ health.

The Pros and Cons of a Low Down Payment

In the past, a 20 percent down payment was considered the standard for households purchasing a home. According to a September 2017 article on fortune.com, the average down payment in 1989 was a staggering 23 percent. But times are changing. Most lenders no longer require 20 percent down, and many lenders and loan products require down payments of only 3.5 to 5 percent.

Rural Rental Housing Preservation Academy Session 3 Recap

Attendees participated in "Session 3: Preservation Financing and Deal Structuring" in San Antonio April 11-12. This is a recap of that session provided by Emily Perlmeter, Analyst, Community Development at the Federal Reserve Bank of Dallas. Russell Kaney, Director, Programs at Enterprise Community Partners welcomed participants to the third session and reminded everyone that recaps of Session 1 and Session 2 are available for those interested.

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