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BOND FUNDS AVAILABLE FOR AFFORDABLE HOUSING IN AUSTIN

Thursday, August 9, 2007 - 7:15AM

The Austin Housing Finance Corporation (AHFC) this week published a notice of funding availability (NOFA) for its Rental Housing Development Assistance (RHDA) program through which $2.2 million in affordable housing general obligation (GO) bond proceeds are available to assist in financing the development of affordable rental housing projects. The bonds were approved by voters in November. Proposition 5 authorized the issuance of $55 million in GO bonds, including $33 million for the RHDA program and $22 million for homeownership programs. Applications are due by September 18. Applications not considered may be re-submitted for the next funding cycle which will be October 1, 2007.

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