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The Texaproposalpolicies aguidelineissued bscoring cInducem

1. Intro

Ta.ninhan§toisCavcaa2caa

Tb.bcopmsc

Tc.tointhsure

Cd.d

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as State Affos (“RFP”) foand RFP arees for selecty the Corpocriteria at leent Resoluti

duction.

he Texas Sonprofit corncome Texaousing optipplications ew afforda§2306.554, o issue multssuance of torporation vailable voluap for residepproximatel017. Thereaap through mount of 50

hese policieased on a rommunity sursuant to

methodologycoring and ra

his RFP will o close the nduced by thhe Corporatubmit an aeserves the

ontact Infoirected in w

exas Stat

2017 MP

Tex

ordable Hour its multifae updated ating residenoration. All east 35 daysion.

State Affordrporation thaans and othons throughfrom develoable multifa564 and 565tifamily 501(the portion under §137ume cap forential rentally $65 milliofter the Corthe Texas

01(c)(3) bond

es and RFP review of thsupport, and§2306.565

y that staff anking appli

be extendeRFP to furthe Corporation’s websitpplication pright to re‐o

rmation. Alriting to:

e Afforda

Multifamily Tolicies and R

xas State Affor

P.O. Box 126

using Corpormily tax‐exennually to intial rental submissionss prior to a

dable Housat serves theher underseh conventioopers (“Devamily renta5 of the Tex(c)(3) bonds of the stat

72.0231(a) or private act private action. This volurporation wiBond Reviewds that the C

have been he state’s std solicitatio5 of the Twill use toications.

d month‐tother submision’s Board.te, and writtprior to theopen the RFP

l questions

able Hous

Tax‐Exempt BRequest for P

dable Housing

37, Austin, Texa

ration has aempt bond pnform the pproperties ts must be sny presenta

ing Corporae housing neerved popuonal financiaelopers”) toal developmas Governmand to diree’s private of the Texastivity bondsivity bonds. ume cap is all be able to w Board. ThCorporation

adopted bytrategic houon from locTexas Goveo review ap

‐month untsions, based. A notice thten notice we release oP at any time

about the

sing Corp

Bond PrograProposals

g Corporation

as 78711

approved thprograms fopublic of theto be financsubmitted fation to the

ation (the eeds of low, lations whoal channelso acquire anments (“Devment Code, tect the Texasactivity bons Governmes is 10% of tFor 2017 thavailable for reserve anyhere are nomay issue.

y the Corpousing needs,al and regirnment Copplications a

il such timed on the amhat the RFP will be proviof the closine.

e RFP and

poration

ams

A

ese policiesor calendar ye Corporatioced with tafor review oCorporatio

“Corporatiovery low ano do not h. The Corpnd rehabilitavelopments”he Corporats Bond Revinds ceiling sent Code. Ththe State’s ahe amount isr reservatioy additional o deadlines

oration’s Bo the demononal housinode. This Rand creates

as the Corpmount of fuhas closed ided to any ng notice. T

application

Approved 12.15.1

and requesyear 2017. Ton’s processax‐exempt bof thresholdn’s Board fo

on”) is a pd extremelyhave compaporation acate, or cons”). Pursuantion is authoew Board oset aside fohe Corporatavailable vos estimated n until Auguavailable voor limits on

oard of Direnstration of ng organizatRFP defines the criteri

poration chounds awardewill be postDevelopersThe Corpor

process ca

16

st for These s and bonds d and or an

public y low‐rable cepts struct nt to orized n the or the tion’s olume to be ust 1, olume n the

ectors local tions, s the a for

ooses ed or ed to s who ration

n be

2 of 24

2. TargeCorpo(“TarfundsincludassesCorpowill oHous

Aa.afrereptostndD

Rb.rehthmthule5

Sec.Du

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4

eted Housinoration’s Bogeted Houss. The Targeding a revssments andoration’s Boonly accept aing Needs.

t‐Risk Preseffordable reepairs and megulatory agublic body. o current etandards. Dot cause thevelopment

Development

ural and Smental housinousing expahat is: (a) oumetropolitanhe area hasrban area. Sess than 10000,000 pers

enior and SeDevelopmentnder this Ta

exas Stat

2017 MP

Tex

Texas 22

Tel

ng Needs. Poard has ideing Needs”)eted Housingiew of thed informatioard has adoapplications

ervation andental housingmechanical sgreement or Rehabilitatienergy efficDevelopmenthe permanets participat’s Rental As

maller Urbanng in rural aansion. Rurautside the b statistical a a populatioSmaller urba0,000 personons;

ervice Enrichts must meergeted Hous

e Afforda


xas State Affor

P.O. Box 126

DevelopmeState Afford200 E. Marti

Austin. 512‐477‐35Email: ddan

Pursuant to ntified targe) for the allog Needs aree State’s ston from loopted the fo in response

d Rehabilitatg is defined systems updr land use reion activitiesiency, housts may inclunt relocatioating in thssistance De

n Markets. Tand smaller l rental hououndaries oarea (MSA); on of 20,00n rental houns, but not w

hed Housinget at least osing Need ca

able Hous


dable Housing

37, Austin, Texa

nt Finance Pdable Housinn Luther Kinn, Texas 7870555, Fax 512nenfelzer@ts

§2306.565(bet areas of ocation of qe based on rtrategic houocal and reollowing Tare to this RFP

tion. The preas existing dates. The hestriction ags must resusing quality,ude temporaon of existinhe U.S. Dmonstration

he Corporaturban mark

using develoof a primary or (b) withi

00 or less anusing develowithin or ad

Developmenone of the fategory.

sing Corp


g Corporation

as 78711

Program ng Corporating Jr. Blvd. 02 2‐477‐3557sahc.org

b) of the Tehousing neequalified resresearch conusing needgional stakergeted HousP that fulfill

eservation ahousing in nhousing musgreement (thlt in the hou, local buildary tenant reng low‐incoDepartment n program ar

tion is dedickets that arepments mumetropolitain the bounnd does notopments mudjacent to a

nts. Senior afollowing de

poration

ams

A

on

exas Governed within thsidential rennducted by s, relevant eholders. Tsing Needs. at least one

and rehabilitneed of signst currently he “LURA”) using units bding code elocation exme tenantsof Housi

re eligible un

cated to expe not generst be locatean statisticadaries of a t share a boust be locatePMSA or M

and Service Eefinitions in

Approved 12.15.1

nment Codehe State of Tntal project the Corporahousing n

To this end,The Corpore of the Targ

tation of exnificant struchave a recoplaced on itbeing brougand accessixpenses, buts. Public hong and Under this sec

panding accerally targeteed within anl area (PMSPMSA or Moundary wited within a cMSA of more

Enriched Hoorder to qu

16

e, the Texas bond ation, needs , the ration geted

isting ctural orded t by a ht up ibility t may using Urban ction;

ess to ed for area SA) or SA, if th an city of than

using ualify

3 of 24

Dd.read

3. Housneedvolum

Ina.M

Inb.im

4. AppliDevecompnonre501(c

5. Appli

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4

i. A proHousiof ageindividhousinolder;whichindivid

ii. A prohousinservicand pto coo

iii. A DevRevenhousintargetqualifless th

Disaster Relieental housinny one or misaster decla

sing Needs Ss the Corpome cap will b

nclude at leMarket, as de

nclude at lempairments

ication Submlopers shoupletion inclefundable ac)(3) bonds.

ication Revi

exas Stat

2017 MP

Tex

oposed Devng Act and: e or older; odual 55 yeang units are; and whereh demonstraduals 55 yea

posed Deveng that offeces and suppersons who ordinate hou

velopment nue Service ng combineted to persoied renter; ahan 30% of t

ef Housing. Tng Developmmore Texas caration to be

Set‐Aside. Toration has dbe reserved

east 50% of efined by thi

ast 20% of and special

mission. Theuld downloaduded in tpplication s

ew.

e Afforda


xas State Affor

P.O. Box 126

elopment ta) is intendor b) is intears of age oe occupied be the ownerte an intentars of age or

lopment thaers the oppports that foare elderly.using and he

financed inon Assisted

ed with minons with disaand c) has atthe area med

The Corporament, includounties idene eligible for

To ensure thdetermined for developm

housing unis policy; or

housing unineeds popu

e Corporatiod and compthe applicaubmission fe

able Hous


dable Housing

37, Austin, Texa

that meets ded for, and ended and oor older perby at least or publishes at by the ownolder. (See

at provides fportunity tooster indepe Such Develealth service

accordanced Living Devnimal on‐siteabilities, butt least 10% odian income

tion will coning rehabilitntified in a Fr financing u

hat bond cathat until Aments that:

nits located

its built to blations as de

on will publisplete the apation instruee of $1,500

sing Corp


g Corporation

as 78711

the requiresolely occuoperated forr unit, wherone individuand adheresner and man42 U.S.C. Se

for integrateo link resideendence foropments shs for residen

e with limivelopments,e medical ot with at leaof its units ae.

nsider any eltation and nFederal Emender this RF

ap will be aApril 1, 2017

in a qualif

be accessibefined by th

sh an applicaplication puuctions. The0 for Private

poration

ams

A

ements of pied by, indr occupancyre at least 8al who is 55s to policiesnager to proection 3607(

ed, affordabents with onr individualsould also shnts; or

tations set and a) is aor supportivast 75% of uffordable to

ligible multifnew construrgency ManFP.

vailable for , 20% of its

fied Rural o

le for persois policy.

ation packagursuant to the Corporat

e Activity Bo

Approved 12.15.1

the federaldividuals 62 yy by at least80% of the 5 years of as and procedovide housinb));

ble and accesn‐site or ofs with disabhow a clear e

by the Intaffordable rve services; units open too persons ea

family resideuction, locatnagement Ag

specific hoannual ava

or Smaller U

ons with mo

ge to its webhe guidelinetion requireonds or $2,50

16

l Fair years t one total ge or dures ng for

ssible ff‐site ilities effort

ternal rental b) is o any rning

ential ted in gency

using ilable

Urban

obility

bsite. es for es a 00 for

4 of 24

Ta.reb

Tb.etothC

Ac.refuthb

6. Thresminimallocawill b

Afa.

T

4

he Corporatecommendaefore the Bo

he Corporatrrors, omisso complete ihe private aorporation f

All applicatioecommendaunds. If thehe applicatioe considered

shold Critermum Thresation of bonbe subject to

ffordability

i. The Cincludsucceminimall Derestric

A.

B.

ii. Affordas lon

exas Stat

2017 MP

Tex

tion requiresation for indoard only tho

tion may desions or insuits review. Ifctivity bondfor further re

ons that haations for awe Corporatioon will be hed for a futur

ia. All applichold Criterinds by the Co termination

Threshold.

Corporation ding low, verssful at recmum terms aevelopmentsctions:

A minimumRental DehouseholdMedian In(40%) of thfamilies wadjusted f

Rent Restunit will no

dability Requg as the bon

e Afforda


xas State Affor

P.O. Box 126

s at least 28 ucement to ose applicat

lay the presufficient docf an applicatd (“PAB”) preview.

ave complewards will ben utilizes alleld for a perire award, if v

cations submia (“ThreshoCorporation.n by the Cor

seeks to pry‐low and eceiving an and conditios will be re

m of twentyevelopmentds with incomcome (“AMhe units in twith incomeor family siz

rictions. Grot exceed 30

uirements shnds are outst

able Hous


dable Housing

37, Austin, Texa

days to revithe Corporaions that ha

sentation of cumentationtion fails to fogram, the

eted the re determined of its volumiod of 120 dvolume cap b

mitted to thold Criteria. Applicationrporation.

provide houextremely‐loallocation ons through aequired to

percent (20must have

mes no greaI”), adjustedhe Developmes at or beze.

ross monthly0% of the ap

hall be maintanding.

sing Corp


g Corporation

as 78711

ew an application’s Boardve complete

an applicatn that the Cofulfill the miapplication

eview proced based on fme cap prior ays from itsbecomes av

he Corporati”) in orderns not meet

using to a ow income pof PABs sha Regulatorymeet the

0%) of the une Gross Reater than fiftd for family sment must below sixty p

y rent chargpplicable AM

ntained for o

poration

ams

A

cation beford. The Corpoed the review

ion to the Borporation dinimum threwill not be

ess will be final scores ato approvin date of subvailable.

on must mer to be coting the crit

mix of eligpersons. Devhall agree ty Agreemenfollowing in

nits in a Quaents that aty percent (size, or at lebe affordablpercent (60

ged on an inMI.

of the great

Approved 12.15.1

re presentinoration will w process.

Board if therdeems neceeshold criteraccepted b

presented,and availabilng an applicabmission and

eet the follonsidered foeria listed b

ible househvelopers whto the follot. At a minimncome and

alified Residere restricte50%) of the east forty pele to person0%) of the

ncome restr

er of 15 yea

16

g any bring

re are essary ria for y the

and lity of ation, d may

owing or an below

holds, o are owing mum, rent

ential ed to Area rcent s and AMI,

ricted

ars or

5 of 24

Exb.dsugmafhd

Cc.acoveStobCmpsc

Cd.Pafosuco

Re.seinpepCa

Ef.ECmstth

T

4

xperience Tevelopmentubmit evidereater of 75may only givffordable hoistorically aetermines to

Construction dhere to locommunity thersion of ttandards muther third‐ponds. For orporation w

may conduct rocess. The cope of wor

Compliance Tolicies, whicffiliates will ther state oubmission oompliance h

esident Serervices progncome tenanrovides at lnsure a dedreferably onorporation’spproved by

nergy Efficienergy’s Enorporation.

meet these standards dihreshold mu

exas Stat

2017 MP

Tex

Threshold. Dt, ownershipnce that the5 units or 50ve credit foousing devend currentlyo be relevan

Threshold. cal building chat does notthe Internaust be usedparty constrDevelopmewill require an onsite inCorporatiok based on i

Threshold. Ach can be vialso be revor federal af compliancehistory.

vices Threshgrams in thents, Developleast six (6)dicated budgn‐site staff s Resident Sthe Corpora

ency Threshoergy Star Developmestandards. Drectly fromust be certif

e Afforda


xas State Affor

P.O. Box 126

Developers p and/or maey have bee0% of the tor projects telopment, wy in complint.

All Developcodes and stt have local ational Build. A certificatruction supents requirinthe submisnspection ofn may also ts inspection

All Developmewed on ouviewed for caffordable he informatio

hold. The Ce properties pers must m) approved get for servto direct seServices Proation.

old. All Deveprogram s

ents includinDevelopers mm the Energfied to by t

able Hous


dable Housing

37, Austin, Texa

must demnagement on involved iotal proposehat are detwhich includance, and a

pments, newtandards. If building codding Code tion from thervisor mustng rehabilitsion of a phf the propersuggest re

n.

ments must aur website acompliance ousing progon and refere

Corporation it finances.

maintain a suservices to ices, free trervices. Thegram Guide

elopments mstandards, ng either nmay obtain gy Star webhe Develop

sing Corp


g Corporation

as 78711

onstrate suof affordablen the develoed Developmtermined todes propertiany other fa

w constructia Developmdes, then thor Interna

he Developmt be submittation of ehysical condrty in order tasonable ch

adhere to that: www.tsahhistory withgram. The Cences in ord

strives to To meet thustained restenants pe

ransportatioe six (6) serelines, as att

must adhereunless othew construadditional ibsite: http:/ment archit

poration

ams

A

ufficient exe housing. opment or oment units. o be successies in contiactors that

ion and rehment is planne most receational Resiment’s archittted prior texisting houditions inspeto completehanges to t

he Corporatihc.org. Deveh the CorpoCorporation der to resear

maintain exhis goal and sident servicer quarter. Don to servicervices must tached in A

e to the U.Sherwise exection or reinformation//www.enertect, consult

Approved 12.15.1

perience inDevelopers ownership oThe Corporsful examplnuing operathe Corpor

habilitation, ned in an arent and appridential Butect, engineto closing ousing units,ection reporte its underwhe rehabilit

ion’s Complelopers and oration’s andwill requirerch a Develo

xcellent resbetter serveces programDevelopers es if off‐sitebe listed inppendix A,

S. Departmeempted by habilitation regarding trgystar.gov. ting enginee

16

n the must of the ration es of ation, ration

must rea or roved ilding eer or f the , the t and riting tation

iance their d any e the oper’s

sident e low

m that must , and n the or as

ent of the shall these This

er, or

6 of 24

oogeef

Eg.Pto

Rh.dpsu

Ai.awepcecost

Cj.otothfo

T

4

ther third pf the consteneral contfficiency are

nvironmentahase I Enviroo provide an

elocation Themolition oroperty owubmission o

i. The Dunits;

ii. The Dhousinagree

ccessibility dhere with with Disabilitncouraged trior to appertification onstruction tate accessib

Community Sn their Deveo the Corporhe RFP two (or the propo

i. A letteAdminLocal the ju

ii. A resoCommcredit

will be

exas Stat

2017 MP

Tex

arty energy ruction spetractor. Adde included as

al Review Thonmental Sin environme

hreshold. Alf existing hners and/orf the bond r

Developer inand

Developer mng laws arments, renta

Threshold. Athe Fair Hoties Act, andto review thplication sufrom the plans and/obility standa

Support Threelopment prration as the(2) of the folosed develop

er of Suppornistrator; DiPublic Housrisdiction in

olution of smissioner’s Ct allocations

e acceptable

e Afforda


xas State Affor

P.O. Box 126

efficiency ccifications oditional inces scoring item

hreshold. Prite Assessmental indemn

l Developmousing musr residents eservation a

tends to reh

ust ensure tre upheld, al assistance

All Developmousing Accesd §2306.514hese guidelinubmission. Aproject ar

or rehab plards.

eshold. Deveroposals. Alley are receivllowing docupment:

rt from one irector of thsing Agency; which the d

support fromCourt. A respursuant to

e for this item

able Hous


dable Housing

37, Austin, Texa

onsultant, por scope of entives for ms.

or to closingent. At bondnity in the fo

ents involvit provide evhave been application t

habilitate, re

that tenantsincluding

e, and reloca

ments must ssibility Stan4 of the Tenes with theAll Developrchitect, enn will meet

elopers are l letters of sved. Developuments in or

or more of the Local HoSchool Dist

developmen

m the City solution fulfo section 230

m;

sing Corp


g Corporation

as 78711

prior to closif work provGreen Bui

g, the Develod closing, thrm satisfact

ng the rehavidence thanotified at

to the Texas

econstruct o

s’ rights undebut not lation assista

be designendards, Titleexas Governeir architectspments will ngineer or or exceed t

encouragedsupport or opers must surder to dem

the followinousing Finanrict Superintt is located;

Council, Locfilling the re06.67021 of

poration

ams

A

ng and basevided by thelding meth

oper is reque Developerory to the C

abilitation, rat all tenantleast 30 dBond Revie

or demolish

er all federaimited to nce.

d, built ande II and III oment Codes and/or cobe requircontractor the above li

d to collect copposition mubmit with tonstrate com

g: Mayor; Cnce Agency;tendent; or

cal School Bequirementsthe Texas G

Approved 12.15.1

ed upon a ree Developmods and en

ired to condr will be reqorporation.

reconstructiots, lease holays prior tow Board, tha

existing ho

al, state and extended

d rehabilitateof the Amer. Developernstruction ted to obtathat the

isted federa

community must be provtheir responmmunity sup

ity Manager; Director oCounty Judg

Board or Cos for housinGovernment

16

eview ment’s nergy

duct a uired

on or lders, o the at:

using

local lease

ed to ricans rs are eams ain a final

al and

input vided nse to pport

r; City of the ge, in

ounty g tax Code

7 of 24

Uk.st(“pparin

Pl.ppex

T

4

iii. A lettComm

iv. Evidenthe de

v. A lettdistric

Underwritingtandards as “TDHCA”), rocess. The roperty condre required nclude:

i. All Dea minyears

ii. The Cyears.enrich

iii. The C$250 annuaDevelinform

iv. Compincludas we

v. The Cincludsyndicunderongoicovera

roperty Tax roperty tax roperty taxexemption or

exas Stat

2017 MP

Tex

ter of suppmerce or ten

nce that a loevelopment;

ter of suppoct in which t

g Thresholdrequired by to ensure cCorporation

dition assessmto be subm

evelopmentsimum Debt as underwri

orporation g. The Corpohed and extr

Corporation per unit anally for rehaopment. Thmation provi

pliance fees de, at a minll as any fee

Corporation ding, but ncator’s assetrwriting anang partnersage.

Exemption.exemption es due to lor PILOT agre

e Afforda


xas State Affor

P.O. Box 126

ort from anant council o

ocal governm; and/or

ort from thehe proposed

d. The Corpy the Texasconsistency w

n must receivments, envir

mitted to TD

s, and each pCoverage Ritten by the

generally doration may remely low‐i

will include nnually for nabilitation de Corporatioded in the P

will be incluimum, the Cs required b

will includnot limited t managemlysis. Lendeship fees w

Developersor paymentcal taxing eement, the

able Hous


dable Housing

37, Austin, Texa

n affected nof a Develop

ment (city o

e State Reprd developme

poration ges Departmenwith the lowve all third pronmental repDHCA. Add

property witatio (“DCR”Corporation

oes not permconsider lonncome hous

a reserve onew construdevelopmenton may reqProperty Con

uded in the eCorporation’by TDHCA or

de other reto, depre

ent fees, orer or syndicawill not be

s must certif in lieu of tantities. If a Corporation

sing Corp


g Corporation

as 78711

neighborhoopment to be

or county) en

resentative ent is locate

enerally appnt of Housw-income hoparty reportsports, marke

ditional minim

thin a pooled) of 1.15 forn;

mit amortizatnger amortising develop

of replacemeuction develts in the ouire a highendition Asses

estimate of ’s Asset Oveother finan

easonable aeciation, intr other ongator’s asset considered

fy that theyaxes agreemDeveloper an will require

poration

ams

A

od associatie acquired;

ntity is prov

or Senator d.

plies the sasing and Coousing tax cr, including bet analysis anmum under

d transactior a period o

tion periodsization schepments;

ent expenseopments anperating exer reserve assment (the

operating eersight and cial sources;

and documeterest expegoing partnemanagemein the calc

y will, or willment (“PILOTagrees not te a restrictio

Approved 12.15.1

ion; Chamb

viding fundin

representing

ame underwommunity Aredit underwbut not limitnd appraisalsrwriting stan

n, must maif no less tha

s of more thadules for se

e of not less nd $300 perxpenses for mount base “PCA”);

expenses andCompliance; and

ented expeense, lendeership feesent fees or oculation of

l not, apply T”) to reduco apply for on to be add

16

er of

ng for

g the

writing Affairs writing ted to s, that ndards

ntain an 15

an 40 ervice

than r unit each ed on

d will e Fee,

enses, er or in its other debt

for a e the a tax ed to

8 of 24

thstCsuexco

Pm.Goopexsesucaseda

T

4

he bond doctates that torporation wuperintendexemption oronfirmation

ublic BenefiGovernment rganizationsne dollar in roperty taxexemption reervices mustupported wiapital improervices, refeetermined ccounting of

i. The CincludTrustemanadetermwithdledgebalancof thevalue value DevelQPB AQPB eAccouapplicadvanQPB Aeach dDevel

ii. The Cfollow

exas Stat

2017 MP

Tex

cuments thathey will orwill require ent and the r agreementof any exem

it Threshold Code and

s that receivprojects andes that is noeceived undt benefit incith the tax eovement prerred to herethat the fof QPB:

Corporation ded in the oee in an accgement feemines relevrawn for repr as an acce. On or bee bonds, theof propertyprovided topment is loAccount mayexpended bunt has a bcable, at thence the balaAccount impdollar that, opment rece

orporation hwing manner

e Afforda


xas State Affor

P.O. Box 126

t prohibits ar may applya notificatioCounty Judgt will be reqmptions or fi

for 501(c)(3d this Policve an issuand services thot imposed er §§11.182come‐eligiblexemption isrojects; or (eafter as quollowing gu

shall requiroperating buount (the “Qes, performaant. The QPpayment of count payaefore Januare Developer y tax exempto the Deveocated. The y be reduceby the Devealance of fe end of the nce to the aposed by thin lieu of taxeives an exe

has determir:

able Hous


dable Housing

37, Austin, Texa

any future ay for a taxon to the loge where thquested. Devnal agreeme

3) Bonds Oncy, the Corce of qualifihat benefit inon the Dev2 and 11.18e persons ins located and(3) social, ealified publiuidelines are

re the valueudget of theQPB Accounance fee, oPB account QPB activitible with Qy 1st of eachshall providtion for thaelopment bybalance of f

ed each monelopment eaunds existincalendar yeappropriate his section wxes, a Develemption prio

ned that the

sing Corp


g Corporation

as 78711

pplication fox exemptionocal tax apphe Developmvelopers wilents to the C

nly. Pursuanrporation ried 501(c)(3ncome‐eligibvelopment a25 of the Ten the countyd must conseducational, ic benefits (“e reasonab

e of any proe Developmnt”) prior to r any othermay be funes, or may b

QPB expendh calendar ye to the Cort calendar yy the countfunds to be nth in an amach month. ng, or owedear the Devetaxing entit

will be reduoper pays toor to the end

e value of Q

poration

ams

A

or exemption or PILOT raisal districment is locall also be reCorporation.

t to §2306.5requires tha3) bonds muble persons fas a result oexas Tax Coy in which tsist of: (1) reor econom

“QPB”). Theble for the

operty tax ement and escthe repaymr fees that nded in advbe included itures crediyear startingrporation anyear based oty tax apprescrowed omount equaIn the eved as an acceloper or itsties on a prced by an ao a taxing ud of the cale

QPBs will be

Approved 12.15.1

on. If a Deveagreement

ct, school dited that sucquired to su.

563 of the Tat all nonpust invest at for each dolof a propertode. Projectsthe Developent reductiomic develope Corporatiocalculation

exemption tcrowed with

ment of any the Corpor

vance with fon the operited againstg after the cln estimate oon the apprraiser whereor credited ial to the valnt that the count payabs guarantorso rata basisamount equnit for whicndar year.

calculated i

16

loper , the istrict ch an ubmit

Texas profit least lar of ty tax s and ment n; (2) ment n has and

to be h the debt, ration funds rating t the osing of the raised e the n the ue of QPB

ble, if shall s. The ual to h the

n the

Texas State Affordable Housing Corporation

2017 Multifamily Tax‐Exempt Bond Programs Policies and Request for Proposals


P.O. Box 12637, Austin, Texas 78711 9 of 24 Approved 12.15.16

A. The value of rent reductions will be calculated using the difference between the most recent fair market rent (the “FMR”) published by the U.S. Department of Housing and Urban Development (the “HUD”) and the actual rent collected in each lease agreement. This includes rent concessions granted to households upon move‐in, but not the absence or forgiveness of deposits. Rent reductions must be accounted for on a monthly basis, documented in each individual lease agreement that receives the benefit, and a notice given to each resident of the annual value of their rent reduction. Units that receive rental assistance payments of any kind are excluded from rent reduction calculations.

B. The value of capital improvements will be determined on a case‐by‐case basis for each Development and be specific to each Development or property within a pooled transaction. Capital improvement costs will not include regular maintenance, general repairs, or make ready costs associated with the daily operations of the Development. The Development may include the cost of rehabilitation to be completed as part of the issuance of new 501(c)(3) bonds or approved capital improvements paid for with proceeds from grants, tax credit equity, bond proceeds, loans or other forms of taxable debt, and may amortize the cost of those capital improvements over a five (5) year period. The repayment of taxable debt for capital improvements pursuant to this section B that actually reduces the equivalent amount of such taxable debt payable will be paid out of escrowed funds or credited against the QPB Account. Capital improvements may not account for more than 75% of the total annual QPB requirement.

C. The value of social, educational, or economic development services may be based on (1) the actual dollar amount expended by the Development towards such services at the time such services are provided to residents; (2) the value of volunteer services provided and coordinated by the Developer or its affiliates; and (3) the cost saving provided to tenants through services such as free on‐site day care, free after school care and free lunch programs. The Development may only include the cost of services approved by the Corporation and must not include the value or cost of services provided to residents free of cost by third party entities.

iii. The Corporation will require each Developer to certify that the Public Benefit Threshold has been met in accordance with this policy, and any future revisions of this policy, in their annual audit, to be filed with the Corporation within 120 days of the beginning of each fiscal year of the Development.

10 of 2

7. Scorihas afirst tCorpoAppli

Ca.d

Pb.thhuse

Inc.hA1

Smd.in

T

24

ng. Pursuanadopted the three scorinoration’s gocants must a

Cost Per Unit evelopment

i. 15 po

A.

B.

ii. 8 poin

A.

B.

iii. 15 Poper un

roposed Renhat ensure aouseholds. Dnits supportelections:

i. 15 poof the

ii. 10 poless of

ncome Rangousing as a

Applications 5 points:

i. Not m60% o

ii. At lea80% a

mall and Min communiti

exas Stat

2017 MP

Tex

nt to §2306.5following cg criteria aroals to targeachieve a m

of Housing.ts with total

ints for:

Acquisition

New Cons

nts for:

Acquisition

New Cons

oints for acqnit in rehabi

nts. Applicata percentageDevelopmented by proje

ints – at lease area media

oints – at leaf the area m

ge for Residemeans to imthat propos

more than 8or less than t

ast 15% of thand 120% of

id‐sized Citieies with pop

e Afforda


xas State Affor

P.O. Box 126

565(e) of theriteria to scre required bet specific hinimum scor

Applicationresidential c

n & Rehabili

truction equ

n & Rehabili

truction equ

quisition andlitation expe

tions may ree of rents arnts supporteect based su

st 5% of unitan income; o

ast 40% of umedian incom

ents. The Comprove the e to ensure

80% of the hthe area me

he housing the area me

es. Applicatiopulations les

able Hous


dable Housing

37, Austin, Texa

e Texas Govore and ranby state stathousing needre of 50 poin

ns may receivcosts within

itation equa

ual to or less

itation equa

ual to or less

d rehabilitatenses.

eceive up tore affordableed by projectubsidies in th

ts will be resor

units will beme.

orporation islives of res the followi

housing unitdian income

units will beedian incom

ons will recess than 100,0

sing Corp


g Corporation

as 78711

vernment Conk applicatiotute. The reds and undnts.

ve up to 15 the followin

l to or less t

s than $110,

l to or less t

s than $120,

ion Develop

o 15 points fe to very lowt based renthe calculatio

served for fa

e reserved fo

s interested sidents and ng mixed in

ts will be ree; or

e reserved fe.

eive 10 poin000 but not

poration

ams

A

ode, the Corons to the PAemaining criterserved ar

points for png ranges:

han $85,000

000 per unit

han $95,000

000 per unit

pments that

for proposinw and extremtal contractson of the fo

amilies who

or families w

in promotinbuild strongncome guide

eserved for

for persons e

nts for devel located adj

Approved 12.15.1

rporation’s BAB programteria supporeas in the s

roposing ho

0 per unit

t;

0 per unit

t: or

t exceed $25

ng Developmmely low‐incs may not incllowing set‐

earn 30% o

who earn 50

ng mixed incger communelines will re

persons ea

earning betw

opments locjacent to a P

16

Board m. The rt the state.

using

5,000

ments come clude aside

or less

0% or

come nities. eceive

rning

ween

cated PMSA

11 of 2

oPb

Ae.reuoth

Gf.fr

AfoEbce

Ag.dfo

T

24

r MSA withMSA or MSoundary wit

t‐Risk Preseehabilitationse restrictior land use rhe date of cl

Green Buildinrom a qualifi

i. The m(“LEED

ii. The D70 or

Applications wor meeting tnergy Star sased on theertification a

ccessible Hevelopmentollowing hou

i. All hoone n

ii. All hoand Fa

iii. All doetc.) m

iv. All doopeni

v. All groaccess

vi. All eleinches

exas Stat

2017 MP

Tex

a total popSA, if the arth an urban a

ervation. An of developons. Applicanrestriction agosing.

ng Features.ied third par

minimum cerD”) program

Developmenthigher.

will receive the Gold orscore for m proposed cafter comple

Housing Fets, will receiusing access

ousing units o‐step entry

using and coair Housing a

oorways in gmust have do

ors must hang mechanis

ound floor sible bath tu

ectrical outls and no low

e Afforda


xas State Affor

P.O. Box 126

pulation of rea has a parea.

pplications pments with nts must degreement (“

Applicationrty that the D

rtification rem: or

t achieves an

an additionar Platinum cmultifamily dconstruction etion of cons

eatures. Apve 10 pointsibility standa

accessible ty with a 36”

ommunity spaccessibility

ground flooroors with at

ve lever hansms;

units must ub or roll‐in s

lets, switchewer than 15 i

able Hous


dable Housing

37, Austin, Texa

more than 5opulation o

will receivcurrent affomonstrate t“LURA”) will

ns will receivDevelopmen

quirement o

n Energy Sta

al 5 points (ertification developmentplans, and tstruction or

pplications, s for certifyiards:

through a grentrance do

paces will be standards;

r units (inclut least a 32 in

ndles and wi

have at leashower, and

es and continches; and

sing Corp


g Corporation

as 78711

500,000; orof 20,000 or

ve 10 pointordable houthat the currbe extende

ve 10 pointsnt meets eith

of the U.S. G

ar score for m

maximum ostandards ft of 80 or hthe Developrehabilitatio

including ing that the

round floor oor;

e accessible

uding closetsnch clear op

indows shal

st one groud at least one

trol panels

poration

ams

A

r within the r less and d

ts for the using rental crent rental ved for at lea

s for obtainiher:

Green Buildin

multifamily

of 15 points ffor the LEEDhigher. Certpment must on.

those foe Developme

entrance m

via pathway

s, bathroompening;

l have acces

und floor bae ground flo

must be no

Approved 12.15.1

boundariesdoes not sha

acquisition contracts orvoucher conast 15 years

ng a certific

ng Council’s

developmen

for this criteD program, otification maobtain an of

or rehabilitent will mee

ust have at

ys that meet

ms, storage a

ssible release

athroom witoor bedroom

o higher tha

16

s of a are a

and r land ntract from

cation

LEED

nts of

erion) or an ay be fficial

tation et the

least

t ADA

areas,

e and

th an m;

an 48

12 of 2

Loh.cogobC

Lei.leCw

Dj.Dh

Rk.(4st

Til.dT

8. SubseBoarddocuand a

Sa.C

Ab.upp

T

24

vii. All groHousi

ocal Public Fommitment overnment te Counties,orporation c

etters of Locetters of supounty Judge

whose distric

Developer ExDeveloper cuousing units

esident Serv4) approvedtandard than

Tie Breaker. Tevelopmenthe applicatio

equent Filind or the Texments or stappropriate

uch additionounsel, or Is

A draft of anyse of whichurchaser, orominent di

i. Neitheany rerelatinthereb

ii. All finare aperfor

exas Stat

2017 MP

Tex

ound floor ung Accessibi

Funding. Apof financialto the propo, Cities, Muconsiders fee

cal Support. pport from ae; School Dict includes th

xperience. Apurrently ows at least twi

vices. Applica services ton the Corpor

The Corporat cost per unon with the

ng Requiremxas Bond Revatements inby the Corpo

nal informatssuer’s Coun

y official stathe propos

or investor, sclosure sub

er the Corpoesponsibilityng to the Coby;

ndings and dnd have berming its dut

e Afforda


xas State Affor

P.O. Box 126

units must haility Guidelin

pplications wl support ofosed develounicipal Utie waivers, g

Applicationny combinaistrict Superhe Developm

pplications wwns, and mace the amou

ations will reo tenants onration’s thre

ation will brnit by the nulowest ratio

ments. Prior view Board,n support oforation, whi

tion as requensel;

atement, prosed obligatiowhich offe

bstantially to

oration nor ty for the maorporation a

determinatioeen made bties under th

able Hous


dable Housing

37, Austin, Texa

ave kitchensnes.

will receive 1at least $10pment. The ility Districtrants and lo

ns will receivtion of the frintendent; ment site.

will receive 5aintains in unt propose

eceive 10 pon a monthly eshold criter

reak all scorumber of veo will be dete

to final app Developersf their Develich may inclu

ested by the

ospectus, or ons are to bering, sale o the effect t

the State haatters containd to a desc

ons by the Cy each for he legislatio

sing Corp


g Corporation

as 78711

s that are ac

10 points fo00 per unitonly qualifyts, and Couans as finan

ve 10 pointsfollowing peState Repre

5 points for complianced in the App

oints for agrebasis. This

ria for reside

ring ties by ery low and ermined the

proval of thes may be reqlopment as ude but are

e Corporatio

other offere offered, sor placemethat:

as undertakeined thereincription of t

Corporation its own intn enabling t

poration

ams

A

ccessible pur

or providinghas been mying units ofuncils of Gncial support

s for submittersons: Mayoesentative; o

providing ee, a numbeplication.

eeing to proscoring crit

ent services.

dividing theextremely loe winner of t

e bonds by tquired to filemay be connot limited

on’s Municip

ring memorasold or placeent materia

en to reviewn except solethe obligatio

and the Staternal uses the Corporat

Approved 12.15.1

rsuant to the

g evidence tmade by a unf governmenovernment.t.

ting at leastor; City Manor State Sen

evidence thar of multif

ovide at leastterion is a h

e estimated ow‐income uhe tie break

the Corporate such additnsidered releto:

pal Advisor,

anda througed with a lels must co

w or has assuely as to maons being off

ate, respectand purpostion and this

16

e Fair

hat a nit of nt will The

t four nager; nator,

at the amily

t four higher

total units. k.

tion’s tional evant

Bond

h the nder, ontain

umed atters fered

tively, ses in s RFP;

13 of 2

9. Publi

Ta.mo

Tb.cosicoh

Wc.oDciTpCb

Td.phmsuoto

10. Awar

Ta.in

T

24

iii. Notwithe Stguaraeitherstandmannsuch o

iv. Such furnisand aprope

ic Hearings a

he Corporatmeeting to ref a Developm

he Corporaommunities ites in seveonducted ateld prior to

With respect f 1982 (“TEF

Developer, oirculation in EFRA hearinrovided in aorporation ased on the

he TEFRA Hrior to the owever, tha

may be prepauch action iccur until afo the Corpor

rds.

he Corporanducement o

exas Stat

2017 MP

Tex

ithstanding tate nor thentees or prr or guaraning of the Der guaranteobligations;

obligations hed and to are not in erties otherw

and Meeting

tion’s Boardeview the Dement.

ation requirwhere a Deeral cities, t a location the final app

to public heFRA”), the Cof the hearinthe particip

ng. The Texaadvance purswill schedulschedule of

earing may date the C

at such hearared prior tois appropriafter selectionration set fo

tion’s Boarof volume ca

e Afforda


xas State Affor

P.O. Box 126

its approvae Corporatioromises to pntees, warraDeveloper oees, warrantand

are payablebe furnishedany mannewise belongin

gs.

, at its owneveloper’s e

es Developevelopment the Corporcentral to

proval of the

earings requCorporation ng in the Tepating jurisdis Register issuant to thele an approf publication

not be held Corporationrings may bo selection aate, (b) the n by the Corrth herein.

rd may seleap based on

able Hous


dable Housing

37, Austin, Texa

l of the obln endorses pay such obants, or enor of any Guts, or endor

e solely fromd and providr payable wng to the Co

discretion, experience, q

pers to atteis proposed

ration may all developme Bond Reso

uired by thewill plan anexas Registeictions at leas published oe requiremenopriate date,n.

(and notice approves

be scheduledas long as (a)hearing andrporation, an

ect Developn the results

sing Corp


g Corporation

as 78711

ligations andor in any mbligations frndorses the uarantor of rses the inv

m funds andded by the Dwholly or porporation o

may call anqualification

end a publd. If the Devrequire an

ment sites. lution by the

Tax Equity nd publish ner and the last fifteen (1only on Fridnts of the Te, time and

e of such Hethe Induced and public) the Corpord publicationd (c) the Bo

pers and al of threshol

poration

ams

A

d the Develmanner, direcrom any soucreditwortsuch obliga

vestment qu

d secured soDeveloper anpartially fror the State.

ny Developens, and/or th

lic hearing velopment in additionaAll public he Corporatio

and Fiscal Rnotice, at thelocal newsp15) days prioays and sucexas Registelocation for

earing may nment Resolcation of thration’s staffon of noticeorrower prov

lternate Ded and scorin

Approved 12.15.1

lopment, nectly or indirurce of funhiness or cations, or inuality or valu

olely by prond any Guaram any fund

er to a schedhe character

in each ofincludes mul hearing thearings muon’s Board.

Responsibilite expense oapers of geor to the plah notice muer guidelinesr TEFRA hea

not be publislution; prove hearing nf determinese do not actvides the de

evelopers fong criteria re

16

either ectly, ds of credit n any ue of

perty antor ds or

duled ristics

f the ultiple o be st be

ty Act of the eneral nned ust be s. The arings

shed) vided, notice s that tually eposit

or an eview

14 of 2

frnaw

Tb.rerepth

Tc.thcoDreaoR

11. Bond

Ba.TthcoexthofopaD

Ifb.itthAdit

12. Fees.issueIssuaoblig

T

24

rom a respoot to approwarded the

he Corporateceive a reseeserves thisroceed withhe Corporati

he Corporathis programosts incurreDeveloper. Aestrictions addition, the f private aceview Board

d Review Boa

onds or simexas Bond Rhe formal aponduit transxemption. he Developmne or moreollowed. If lanning sesspproval. ADeveloper’s c

f the formal ts Bond Counhe DevelopApplication wocumentatiots consultant

. Developersd on their nce may beations auth

exas Stat

2017 MP

Tex

nse to the Rove any indumost points

tion reserveervation of s right in oh an inducemion’s volume

tion reserve at any timd in the resAll decisionsnd requiremCorporation

ctivity bond d.

ard Approva

milar obligatiReview Boardpproval procsactions unlIf no ad valoment, the foe TBRB memso, represe

sion and the Additional incooperation

TBRB appronsel, will prement. Thewith the TBRon for the cts.

s shall be rebehalf (the e financed orized for i

e Afforda


xas State Affor

P.O. Box 126

RFP and oraucement of s during the

es the rightprivate activrder to alloment and rese cap.

es the right e, with or wsponse or aps of the Corments as detn’s selectioncap is subje

al.

ions issued d (the “TBRBcess for Texaess such traorem tax exormal TBRB ambers requeentatives ofTBRB meetinformation in providing

oval process epare and fie CorporatiRB only if itcompletion o

esponsible fo“Cost of Issthrough bossuance by

able Hous


dable Housing

37, Austin, Texa

l presentatiovolume capscoring revie

t to retractvity bond caow alternatservation, an

in its sole dwithout furtpplication prrporation areermined by n of proposeect to final

by the CorpB”). TBRB ruas State Affoansactions ixemption orapproval proest it, the ff the Develoing at whichmay be re

g this inform

is required,le the noticeon will filet has timelyof the TBRB

or fees and suance”). Uond proceedthe Corpor

sing Corp


g Corporation

as 78711

ons. The Cop to any Deew.

an award ap prior to Jue Developend to ensure

discretion tother notice trocess are te subject tothe Corporaed Developmallocation a

poration areules provide ordable Hounvolve an ar reduction iocess may nformal TBRBoper are exh the Develoequested bymation is requ

, the Corpore of intent ae the noticey received aApplication

expenses inUp to two pds and will ration, whe

poration

ams

A

orporation rveloper(s),

if a Develouly 1, 2017. ers or othere the maxim

o modify, suto any interthe sole respo such additation in its soments for poapproval by

e subject to an optionalsing Corporaad valorem is requestednot be requiB approval pxpected to apment will by TBRB meuired.

ration, with and the TBRe of intentall required n from the D

ncurred as apercent (2%be considere eligible u

Approved 12.15.1

eserves the even one th

per is unabThe Corporr applicationmum utilizati

spend or amrested partyponsibility otional conditole discretioossible allocthe Texas

approval bl exemption ation multifatax reductiod with respered. Howevprocess muattend the be considereembers, and

the assistanRB Applicatiot and the information

Developer an

a result of b%) of the Coered part ounder the C

16

right hat is

ble to ration ns to on of

mend y. All of the tions, on. In cation Bond

y the from amily on or ect to ver, if st be TBRB ed for d the

nce of on for TBRB n and nd/or

bonds ost of f the Code.

15 of 2

Devetax‐eas deHERE

Aa.Bth

Inb.ereRatob

Pc.thwAshdaistorethtrisIsth

Cd.exinasithoreaa

T

24

lopers shall xempt bondescribed belEIN.

pplication FBonds or $2,5he Applicatio

nducement Fach propertelated to pueview Boardpproved by o public heay the Corpo

rofessional he Bond Revwill be creditAdvisor and hall be $30,eposit for Fidditional dessuance amoo the Texasesolution byhe Municipransaction wssued. If the ssuer's Counhe Develope

Corporation xpendituresnducement fnd closing oite visitationherefore), (iitherwise prelated expennd (iv) such ppropriate b

exas Stat

2017 MP

Tex

commit to pd proceeds. ow. ALL FE

Fee. Develop500 for 501(con.

Fee. Developty for Develublic hearind, within fivthe Corporarings and apration.

Fee Depositview Board,ted against Issuer’s Cou000, which inancial Adveposits, eachount, will bes Bond Reviy the Corporal Advisor will be deduaccrued fee

nsel exceed ter to submit

Expenses. D incurred byfees paid toof a Developn of multifai) any reportovided by tnses) of condother activiby the Corpo

e Afforda


xas State Affor

P.O. Box 126

pay from otThe followinEES ARE NO

pers shall subc)(3) bonds, m

pers shall paopments ings and the ve (5) busineation’s Boarpplication fo

t. Following , Developersfees and e

unsel in conrepresents visor’s fees, ah equal to 2e due, the fiiew Board aration’s Boarand Issueructed from es and expenthe amount an additiona

Developers sy the Corpor the Corporpment. Suchamily residets deemed nhe Developeducting pubties, inspectoration in co

able Hous


dable Housing

37, Austin, Texa

her sources ng fees are pONREFUNDA

bmit a nonrefmade payable

ay a deposit volving morapplicationess days of rd. Additionaor private ac

the issuancs shall makeexpenses incnection wita $15,000 dand a $7,50020% of Bondrst at the suand the secrd. All fees ar’s Counsel such deposnses of Bondof such initial deposit pa

shall reimburation that eation by the expenditurential develonecessary or er, (iii) all colic hearings tions and invonnection w

sing Corp


g Corporation

as 78711

any Costs opayable at tBLE, EXCEPT

fundable fee e to the Corp

of $7,500, are than one for PAB althe date thal reimbursectivity bond

e of a resere a deposit curred by Bh the propodeposit for B0 deposit fod Counsel Fubmission ofcond upon and expensein connec

sit whether d Counsel, tial deposit, tayment.

urse the Coexceed the Ce Developerres include bopments to appropriateosts and exand related vestigations ith its deter

poration

ams

A

of Issuance nhe times anT AS OTHER

of $1,500 foporation, up

and an addie (1) site, tollocation to he Inducemeements for eallocation m

rvation for vwith the Coond Counseosed financiBond Counsor Issuer’s CoFee, based of the reservapproval ofes incurred bction with r or not thehe Municipathe Corpora

orporation fCorporation’r during the but are not be finance

e by the Corpenses (incl meetings [das are deem

rmination of

Approved 12.15.1

not payable d in the amoRWISE PROV

or Private Acon submissi

itional $1,00o cover expethe Texas ent Resolutiexpenses remay be reque

volume cap orporation wel, the Munng. Such deel fees, a $7ounsel fees. on the projeation applicf the final by Bond Couthe Develoe obligational Advisor antion may re

for all costss applicationreview, issulimited to (

ed (or the srporation anluding travedescribed hemed necessaf the suitabil

16

from ounts VIDED

ctivity on of

00 for enses Bond ion is elated ested

from which icipal eposit 7,500 Two ected cation bond unsel, oper’s s are nd/or quire

s and n and uance i) on‐site[s] d not el and erein] ary or ity of

16 of 2

thTp

Me.inisAsecoIfbnhMinB

Bf.($oppCoagtobafoDAsu

Isg.b($feCseinqb

T

24

he proposedhe Corporatrior to the c

Municipal Adn a standardssued, plus aAdvisor. In aerve as the bonnection wf the financie performedot limited toedge agreem

Municipal Adn writing by ond Review

ond Counse$3/$1,000 on all amounlus expenseroposed by ounsel or inr complexesgreements, o adjustmenefore the sddition to thor all out‐oDevelopmentAttorney Genupplements

ssuer’s Counonds) on th$.75/$1000 ee being $1ounsel). Ifervices to bncluding, buuality concee charged b

exas Stat

2017 MP

Tex

d Developmtion will incllosing date.

dvisor Fees. Td Municipal actual expenaddition, forbidding agenwith the inveng structured by Municio, multiple sments, swapvisor will bethe DevelopBoard.

el Fees. Thef the bond ants above $2es, unless otthe Develovolves uniqus in a projeor trust strunt. Any suchubmission ohe fees paidof‐pocket ext. Such expneral filing fethereto.

sel Fees. Thehe first $20of bonds) o5,000 plus f the financibe performet not limiteerns, hedge y Issuer’s Co

e Afforda


xas State Affor

P.O. Box 126

ent for finalude any of

The fee to bAdvisor rolenses, unless r an additionnt with respestment of be proposed bpal Advisor sites or compp agreemente subject to aper before th

e fee to beamount) on 20 million. Ttherwise agroper requireue financingct, extremeuctures, the h adjustmenof the Resed to Bond Coxpenses incenses includees, and the

e fee to be p0 million ofon the princ$5,000 for ng structureed by Issueed to, multipagreementsounsel will b

able Hous


dable Housing

37, Austin, Texa

ncing assistthe above e

e paid to the, will be $otherwise anal fee the Cect to all invbond proceeby the Deveor involves plexes in a pts, or trust sadjustment.he submissio

paid to Bothe first $2

The minimumreed to by Bs non‐standg features ince credit quafees to be cnt must be rvation Appounsel, the curred by Bde TEFRA no preparation

paid to Issuef the princiipal amountexpenses (e proposed br’s Counsel ple sites or s, swap agrebe subject to

sing Corp


g Corporation

as 78711

ance to be expenditure

e Corporatio$20,000 plusagreed to byCorporationvestment coeds and reveeloper requiunique finanproject, extrstructures thAny such adon of the Re

ond Counse20 million in m fee for BoBond Counsdard servicecluding, but lity concerncharged by Bagreed to i

plication to Developer wBond Counsotice publican and filing o

er’s Counselpal amountt above $20(unless otheby the Deveor involvescomplexes eements, or o adjustment

poration

ams

A

offered by s in its closi

on’s Financias $2.00 per y the Corpon’s Financial ontracts to benues of thres non‐stanncing featurreme credit he fees to bedjustment meservation A

el will be $bonds, andond Counseel. If the fins to be pernot limited

ns, hedge agBond Counsin writing bthe Bond Rwill reimbursel in connation, publicof the TBRB

will be .1% t of the bo0 million, wierwise agreeeloper requirs unique finin a projecttrust structt. Any such

Approved 12.15.1

the Corporang fees esti

al Advisor, a$1,000 of bration’s FinaAdviser wil

be entered ine Developmndard servicres includingquality conce charged bmust be agreApplication t

25,000 plus .2% ($2/$1l will be $35nancing strurformed by to, multiplegreements, el will be suby the DeveReview Boarrse Bond Coection withc hearing noApplication

($.1.00/$10onds, and .0ith the minied to by Issres non‐stannancing feat, extreme ctures, the feadjustment

16

ation. mate

acting bonds ancial l also nto in ments. ces to g, but cerns, by the ed to o the

s .3% 1,000) 5,000 cture Bond e sites swap ubject loper rd. In unsel h the tices, s and

000 of 075% mum suer’s ndard tures credit ees to must

17 of 2

bA

Ch.cainRtrsecoposeom

Ai.aCthfeclrefedebb

Trj.ainexm

Ak.acow

Cl.th

T

24

e agreed toApplication to

Closing Fees. ause to be pncluding Boneview Boardrustee for thecurity filingompliance aocket expenther costs aecurity, and f fifteen ba

minimum clo

dministrativnnual Admorporation ahe aggregateee of $5,000losing. The Aebate analysee, and any ocuments. nhancemenond trusteee guarantee

Trustee’s Feepproved by ndenture bexpenses, incmust be paid

uditor’s Feeppoint an aompliance awith respect t

Continuing Cohe Developm

exas Stat

2017 MP

Tex

o in writing o the Bond R

Concurrentpaid all fees and Counsel Fd Fees, andhe obligationg costs, any agent appoinnses incurrednd expensesthe Develo

asis points (sing fee of $

ve Fee. Untilinistrative Fas designatee principal a0. The firstAdministratists’ fee, assother costs Payment ot and/or sec. The Corpoed by the De

es. The Devethe Corporaetween thecluding fees by the Deve

es. The Corpuditor to reagent, and ato the issue.

osts. Develoment docum

e Afforda


xas State Affor

P.O. Box 126

by the DevReview Boar

tly with the and expenseFees, Municid the actual ns, any fees fees for planted in connd by professs, including pment. Add0.15%) of t$20,000.

the final mFee, remitteed by the Coamount of tht annual paive Fee is exset‐oversightor extraordf the Admincured underoration mayvelopment o

eloper shall ation to adm Corporatioof trustee’seloper.

poration maeview the fia rebate ana. Such fees a

opers shall pents, the fol

able Hous


dable Housing

37, Austin, Texa

veloper befrd.

closing of thes in connecipal Advisor amount of and premiu

acing the obnection with sionals actinissuance exditionally, ththe principa

aturity of thed throughorporation, he obligatioyment of thxclusive of tt managemeinary costs anistrative Fer the first moy require theowner and/o

select a bominister the fon and thes counsel, w

ay at any tnancial tranalyst to perfoand costs m

pay to the Cllowing amo

sing Corp


g Corporation

as 78711

fore the sub

he financingction with thFees, Issuerany closing

ums for casubligations, an the review ng on behalf penses, relae Corporatiol amount o

he obligation the respeequal to tens outstandhe Administthe trustee’sent fee, audas permittedee is to be ortgage on te payment oor general p

ond trustee funds and ac trustee ba

will be appro

time over thnsactions unorm an anaust be paid

Corporation,ounts:

poration

ams

A

bmission of

g, the Develohe issuance or’s Counsel Fg or acceptaualty and titny fees and of any propof the Corp

ating to the on will receof obligation

ns, the Deveective bond n (10) basis ding, with a trative Fee s fee, compdit fee, inded under thecovered by the propertyof the Admiartner(s).

from a list occounts pursank. All toved by the

he life of tnder the bonlysis of rebaby the Deve

in the man

Approved 12.15.1

the Reserv

oper shall pof the obligaFees, Texas ance fees ole insuranceexpenses o

perty, any ouporation, andobligations, ive a Closingns issued, w

eloper will patrustee topoints (.10minimum anmust be paliance agentependent ane respective the bond cy assigned tinistrative F

of bond trusuant to the rustee feesCorporation

he Developnd documenate requiremeloper.

nner describ

16

vation

ay or ations Bond f any e, any of any ut‐of‐d any their g Fee with a

ay an o the %) of nnual aid at t fee, nalyst bond credit o the ee to

stees trust

s and n and

ment nts, a ments

bed in

18 of 2

Cm.reCncoth

Fan.fufe

13. Docuprepafinansold CounFinansuch

14. MatefinanPropoCorpo

T

24

i. An anunit obe adjThe Centitie

ii. Any aexecuherein

iii. The aof cosindemthe fincludof theCorpoDevel

Changes in Feeduce the feorporation early as maosts of condherefore.

ailure to Timuture transaees describe

ument Preparation of thcing of the or delivered

nsel. The Dencial Advisormaterials.

erial Changecing structuosed Develooration imm

exas Stat

2017 MP

Tex

nnual asset oor $2,500 fojusted in accCorporation es or person

amounts pauted in connn contempla

mount allocsts and expemnity contrainancing ofding an annue Corporatiooration undeopers whose

ees. The Coees payable under this Ray be practicucting the b

mely Pay Feeactions proped herein.

paration. Bohe legal instDevelopmed unless theveloper andr, the Issuer

es to Financure, ownersopment, fromediately in w

e Afforda


xas State Affor

P.O. Box 126

oversight anr each propcordance wimay requir

ns to guarant

ayable pursnection withated, and

cable to eachenses incurrct or agreemf a Developual accountion. The amer this clause financings

rporation reunder this RRFP will be cal, equal tobusiness and

es and Costsosed by Dev

ond Counsetruments annt by the Ce legality ad its legal cor’s Counsel a

cing Structuhip of the m that set writing and a

able Hous


dable Housing

37, Austin, Texa

nd complianerty includeth the Assetre the ownetee the paym

suant to ah any finan

h Developerred by the Cment, any ppment, andng and/or a

mount of cosse will be dhave been c

eserves the RFP. All feeimposed in o that amoud affairs of th

s. The Corpovelopers wh

el will havnd documenCorporation. nd validity ounsel shall and the Cor

ure. Any andDevelopmenforth in theapproved by

sing Corp


g Corporation

as 78711

nce fee equaed in the Det Oversight aer of the Dment of thes

ny indemncing by the

r (whose finCorporation program estd any obligaudit of the sts or expenivided and completed.

right at any es imposed ssuch amoununt necessarhe Corporati

oration will nho are delinq

ve the primts to be uti No bonds thereof havcooperate frporation’s a

d all materint, or scopee applicatioy the Corpor

poration

ams

A

al to the grvelopment and CompliaDevelopmentse fees;

ity contracte Corporatio

ancing has bin the admitablished in ations of tfinancial renses paid orallocated eq

time to chasubsequent nts as will pry to pay thion, plus rea

not considerquent in the

mary responlized in conor other obve been apfully with Boagents in th

al proposede or materiaon must be ration.

Approved 12.15.1

eater of $45(as such feeance Agreemt and/or re

t or agreeon complete

been complinistration oconnection the Corporacords and ar incurred byqually amon

ange, increato closing bprovide fundhe administrasonable res

r submissione payment o

nsibility fornection witbligations wproved by ond Counsehe preparatio

d changes toals of or fodisclosed to

16

5 per e may ment). elated

ment ed as

eted) of the with

ation, affairs y the ng all

ase or y the ds, as rative erves

ns for of any

r the h the

will be Bond l, the on of

o the r the o the

19 of 2

15. Timeestabpartic

16. Final BondCorporecomfor th

Ra.m

Ab.

17. ClosiCorpoin accby thor pla

Sta.thfoexopo

Pb.

T

24

Limits. In blished by cipation in t

Approval byds after theoration’s stammended byhe Developm

eceipt by thmaterial resp

An affirmativ

i. All reeitherBoard

ii. The ofor apCorpo

ng of the Doration and cordance wihe Texas Attacement.

tructure of Bhe sale of bor informatxecute an bligations tlacement thbligations as

ublic and Lim

i. All bomust term Corpominim

ii. The Cleast “

exas Stat

2017 MP

Tex

the event tthe Corporhe financing

y the Corpo completionaff. If appry Bond Counment. Final a

e Board of epects with th

e determina

quirements r been satisfd; and

peration of pproval by oration and s

Developmenthe TBRB, ifith the docuorney Gene

Bond Sale. Donds, but aion regardinagreement to an undehat obligates more fully

mited Offerin

onds to be shave a debtobligations

oration. Bonmum denom

Corporation “A” or highe

e Afforda


xas State Affor

P.O. Box 126

that the Deation, the g.

ration. The n of the puroved, the nsel, authoriapproval wil

evidence sathis RFP not o

ation of the B

for and prfied or waive

the Developthe State, csatisfies the

nt. Followinf necessary,ments apprral and Bon

evelopers shre encouragng Bond trin connecti

erwriter or s the Develdescribed h

ng Requirem

sold publiclyt rating the eby a natiods with an inations of $

will consideer as non‐rat

able Hous


dable Housing

37, Austin, Texa

evelopment Corporation

Corporationublic hearinBoard will aizing the issul be granted

tisfactory to therwise wa

Board that:

rerequisites ed and are in

pment(s) wilcomplies wirequiremen

g the publithe Corporaoved by thed Counsel in

hall be respoged to contaransactions ion with awto an instloper to theerein.

ments.

y, whether equivalent oonally recoginvestment $5,000,

er any bondted obligatio

sing Corp


g Corporation

as 78711

does not cn reserves

n’s Board wilngs and upoadopt a resuance of obld only upon:

it that the Daived by the

to final apn form and s

ll constitute ith and pronts of the Co

c hearing(s)ation will pre Corporation accordanc

onsible for dact the Corpin Texas. Dwarding theitutional pue payment o

by competiof at least annized ratinggrade of “A

ds that do nons. Non‐rat

poration

ams

A

close within the right t

ll consider fion recommesolution, in ligations to p

Developer ha Board; and

proval undesubstance sa

a lawful actomotes the orporation.

) and final roceed to clon and whence with the t

determining poration’s MDevelopers e sale of thurchaser thof the costs

itive bid or n “A” rating g agency acA” or highe

not have a dted obligatio

Approved 12.15.1

the time fto terminat

nal action oendation bysuch form provide fina

as complied

er this RFPatisfactory t

tivity, is quapurposes o

approval byose the fina finally apprterms of the

the structurMunicipal Adare requirehe Corporatrough a prs of issuing

negotiated assigned to cceptable tor may be so

debt rating ons must be

16

frame te its

n the y the as is ncing

in all

have o the

alified of the

y the ncing roved e sale

res of dvisor ed to tion’s rivate such

sale, long‐o the old in

of at e sold

20 of 2

Ac.DC

T

24

in minamou

iii. All nowith tconsidminimbuyer“institRegulbe anobligaless th(iii) atapproPurchapplicconteand cPurchand orentalthe obfor thand (elegendbe a Qprivatof theletter that: securihas mconditinformwhichfor itsinvest

Any variationDeveloper anounsel, Fina

exas Stat

2017 MP

Tex

nimum denonts in exces

on‐rated obltransfer anddered by themum requirer” as definetutional accation D undn underwritations, (ii) thhan $250,00t such time oval, (a) the aser of thcable) must nt customarconditions oaser must rwning for itl housing prbligations, thhe Purchasere) the Corpod stating thaQIB or an Inte placemene obligationsfrom the i(1) it is engaities and is amade an indetion of the mation; (3) ih such obligas own accountment letter

n to the reqund must be ancial Adviso

e Afforda


xas State Affor

P.O. Box 126

ominations os of $25,000

igations mud other restre Corporatioements: (i) td in Rule 14redited inveder such act ing or purche obligation00 and integas the bondDeveloper (e obligatioprovide a wrily used by of such corepresent thts account, toperties, (dhere may ber, but there oration may at the initial nstitutional At transactios, shall provnvestor puraged in the a QIB or an Iependent inDeveloper t has receivations are isnt and not wwill be prov

uirements seapproved b

or, and Issue

able Hous


dable Housing

37, Austin, Texa

of at least $20.

st be privatrictions. In on, the placthe sale mu44A of the estor” as de(an “Institu

chase with ans must be isgral multipled financing isor placemenns, (b) the

written commreal estate

ommitment hat it is in ttax‐exempt b) when a plae a placemewill be no require thatand any subAccredited In, the Develvide the Corrchasing thebusiness, amnstitutional nvestigation and theref

ved copies ossued, and (with the intevided by the

et forth aboby the Corpor’s Counsel.

sing Corp


g Corporation

as 78711

25,000 and in

tely placed oorder for a cement musst be madeSecurities Aefined in Rutional Accrean intent tossued in mines of any ams presentednt agent, if ae Developemitment fromlending instto purchashe businessbonds or moacement agent memoranoffering stat one physicabsequent punvestor, as loper or placrporation we obligationsmong othersAccredited into the finfore waivesof the financ4) that it hant to sell theCorporation

ove must beoration and

poration

ams

A

n integrated

or offered onon‐rated tst comply w to a “qualiAct of 1933ule 501(a)(1edited Inveso resell anynimum denomount in exc to the Corpapplicable) mr (or placem the Purchtitutions ouse the oblis of originatortgage loanent is involvndum prepaatement by al obligationurchaser(s) oapplicable. cement agewith an execs substantias, of investinInvestor, asancial posits any right cing documas purchasedem. A compn.

e requested be accepta

Approved 12.15.1

d multiples o

on a limited transaction tith the folloified institut (a “QIB”) o1), (2), or (tor”) and cay portion oominations ocess thereofporation formust identifement agenhaser in formtlining the tigations, (c)ting, or acquns on multifved in the saared by the athe Corporan be issued wof such bond In the casent, upon decuted investally to the eng in tax‐exs applicable; ion and busto receive ents pursuad the obligalete form of

in writing bable to the

16

of any

basis to be owing tional or an 3) of annot f the of not f, and r final fy the nt, if m and terms ) the uiring amily ale of agent ation, with a shall e of a livery ment effect empt (2) it siness such

ant to ations f such

y the Bond

21 of 2

Rd.CsuisouaCIn

Oe.Ca

Rf.saoawbom

Tg.pbrea

18. FailuDevethereborroor is dprior

19. OTHEREQUTHESBEST AND/

T

24

equired Apporporation, upplier, conts firmly comr Reservationder this RFnd the approunsel and ncorporation

Offering Statorporation, ny fact cont

egistration. alesman, orbligations any manner, which would e made witffer, sale, d

making the fi

he Developeayment to ty the Corpoequired to snd Exchange

re to Complopers for aeto) in connower (or reladelinquent iissued oblig

ER REQUIREUIREMENTS E ADDITIONOPPORTUN

/OR THE TEX

exas Stat

2017 MP

Tex

provals. Noshall represtractor, or omitted to isson Detail untFP, and thenroval of the subject to

n.

tement. No shall make rary to the d

Neither ther other persuthorized btransactionbe to requith regard thdistribution, lings regard

er will providthe Corporatoration for satisfy the re Commissio

ply with th potential Dnection withated party) in the paymegations of th

EMENTS. THON A DEVELNAL OR DIFFNITY FOR AXAS BOND RE

e Afforda


xas State Affor

P.O. Box 126

o Developersent, directlyother personsue any obligtil the Boardn subject toAttorney Gany requir

Developer,any represedisclosures r

e Developer son, firm, oy the Corpon, or circumire such oblihereto undeor placemeing the same

de and be retion in suppa project bequirementon as that ru

is RFP. TheDevelopmenh obligationis not in coment of any fee Corporatio

HE CORPORLOPER THANFERENT REQAPPROVAL EVIEW BOAR

able Hous


dable Housing

37, Austin, Texa

, or any rey or indirectn, firm, or engations in red has given o the governeneral of threments imp

, or any rentation, direequired to b

nor any secor entity shoration by astances or tigations to br the laws ent is madee required b

esponsible foport of the bbeing financs of Rule 15le is applica

e Corporatiot if the Devens previouslympliance witees or costs on.

RATION MAYN THOSE PROQUIREMENTSBY THE CORD.

sing Corp


g Corporation

as 78711

epresentativtly, to any lentity that thelation to anfinal approvnmental apphe State of Tposed by th

epresentativectly or indibe made by t

urities firm, hall offer, seny process, to any persobe registereof the statee without fiby such laws

or filing so lobonds, notesced for the5c(2‐12) of ble to the fin

on will not eloper is a by issued byth the requirset forth in t

Y IMPOSE AOVIDED IN TS BECOME NORPORATION

poration

ams

A

ve of any Dender (interhe Corporationy Developmvals for the provals requTexas, the ahe Corporat

e of the Drectly, exprethis RFP.

underwriteell, distributmethod, oron or persod or would e or jurisdicirst register.

ong as it is os or other o Developer,the United nancing.

consider suborrower (oy the Corporements setthis RFP wit

ADDITIONALTHIS RFP IN TNECESSARY TN’S BOARD

Approved 12.15.1

Developer orim or otheron has agrement or Respissuance thuired by thisapproval of tion’s Article

Developer oess or implie

r, broker, dete, or placer technique ons, the efferequire filinction where ing the sam

obligated to mobligations is, all informStates Secu

ubmissions or a related oration and t forth in thih respect to

L OR DIFFETHE EVENT TTO PROVIDEOF DIREC

16

r the wise) ed or ponse ereof s RFP Bond es of

r the ed, of

ealer, e any or in ect of ngs to such

me or

make ssued ation urities

from party such s RFP o such

RENT THAT E THE TORS





APPENDIX A

TSAHC Resident Services Program Guidelines It is the Texas State Affordable Housing Corporation’s goal to support Developers in the creation of high quality Resident Service Programs. TSAHC has created basic guidelines and a reporting system to help with this process. The following is a list of activities/courses that can be implemented. In order to fulfill the Resident Service requirement, at least six resident service activities per quarter must be provided from the following list. Developers must ensure services are provided onsite or provide free transportation to services if off‐site. If the applicant received additional points under the Resident Service scoring criteria, an average of at least four resident service activities per month must be provided from the following list. If you are interested in starting an activity or course that is not on the list, please propose the new activity to the Multifamily Oversight Department for approval. Activities that are provided daily, such as after school programs and educational/scholastic tutoring, can be counted as two services for the quarter. Please make sure that services offered will encourage economic self‐sufficiency and/or promote homeownership opportunities.

Career Services 1. Computer Literacy Class 2. GED Classes 3. Job Skills/Training 4. Resume/ Job Search Workshop 5. Job Fair 6. College Preparation Class 7. Military Recruiting

Children’s Services 1. After School Care (Counts as 2 Services When Provided Daily) 2. Swimming Lessons 3. Free On‐site Daycare (Counts as 2 Services When Provided Daily) 4. Free On‐site Tutoring Sessions (Counts as 2 Services When Provided Daily) 5. Performing Arts Classes 6. Holiday Safety Classes 7. On‐Site Library 8. Free Lunch Program (Counts as 2 Services When Provided Daily)

Community Awareness 1. Crime Watch Meeting





2. Self Defense Course 3. Child ID/Fingerprinting Program 4. Fire Safety Class 5. Hurricane Safety Class 6. Domestic Violence Awareness Workshop 7. Drug Awareness Workshop 8. Host Support Groups Such as AA, Anger Management, etc. 9. Community Gardens 10. Community Service Activities (i.e. Habitat for Humanity) 11. Green Living/Environmental Workshop

Financial Skills 1. Household Budgeting Workshop 2. Financial Planning/Credit Counseling Workshop 3. Asset Building Workshop 4. Tax Preparation Courses 5. Student Financial Aid Workshop 6. Personal Insurance Workshop (Medical, Renters, Life, Disability, Car)

Medical and Health Services 1. Basic First Aid and CPR Class 2. Caring for the Disabled Class 3. Health and Screening Services 4. HIV/AIDS Classes 5. Vaccinations/ Flu Shots Services 6. Fitness and Exercise Classes 7. Diabetes/ Heart Disease Courses 8. Babysitting Safety Courses 9. Health and Nutritional Courses 10. Low Cost Healthy Cooking Courses 11. Cancer Awareness Workshop/Cancer Screening Services 12. Free Dental Services

Personal Development 1. Counseling Services 2. English as a Second Language Courses 3. Home Ownership Counseling 4. Parenting Classes 5. Anger Management Courses 6. Family Counseling 7. Cleaning Supply Safety Class / Housekeeping Education





8. Book Club

Free Transportation Services 1. Grocery Store 2. Library 3. Medical Visits 4. Cultural Community Events 5. Free/Discounted Public Transportation Tickets

Activities that will not be counted towards the six resident services per quarter requirement include, but are not limited to, children’s movie time, patio decorating contests, gambling trips, resident parties, Easter Egg Hunts or other activities along these lines. Properties are welcome to offer these activities, but they will not count towards fulfilling the Resident Services obligation.

Documents

Texas Stat e Affordable Housing Corp oration · oration ac te, or cons). Pursuan ion is autho ew Board o et aside fo e Corporat vailable vo ... 37, Austin, Texa nt Finance P able