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Presentation, discussion, and possible action on the 2025 Regional Allocation Formula Methodology
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WHEREAS, Tex. Gov't Code ??2306.1115 and 2306.111(d) require that the Texas Department of Housing and Community Affairs (TDHCA or the Department) use a Regional Allocation Formula (RAF) to allocate its HOME Investment Partnerships (HOME) Program, Housing Tax Credit (HTC) Program, and under certain circumstances, the Texas Housing Trust Fund (HTF) Program funding;
WHEREAS, the proposed RAF Methodology utilizes appropriate statistical data to measure affordable housing needs, available housing resources, and other factors determined by the Department to be relevant to the equitable distribution of housing funds in the urban and rural areas of the 13 State Service Regions used for planning purposes; and
WHEREAS, the proposed RAF Methodology was approved by the Governing Board of the Department at the meeting of May 9, 2024, and was available for public comment through June 20, 2024, and no public comment was received;
NOW, therefore, it is hereby
RESOLVED, that the 2025 RAF Methodology for the HOME, HTC, and, as applicable, HTF programs, in the form presented at this meeting, is hereby approved.
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BACKGROUND
The Department uses the Regional Allocation Formula (RAF) for planning purposes by utilizing appropriate statistical data to measure the affordable housing need and available resources in the 13 State Service Regions. The RAF also guides the allocation of funding to rural and urban areas within each region. The Department has flexibility in determining variables to be used in the RAF, per Tex. Gov't Code ?2306.1115(a)(3), "the department shall develop a formula that...includes other factors determined by the department to be relevant to the equitable distribution of housing funds."
The Department revises the RAF annually to reflect current data, respond to public comment, and better assess regional housing needs and available resources. In prior RAF...
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