First tribal LIHTC project in Texas to begin construction

With the infrastructure now in place, the Ysleta del Sur Pueblo will begin construction on 30 duplex homes in Socorro, Texas, which will provide 60 affordable housing units to income-qualified members of the tribe. In addition, the Pueblo becomes the first tribe in Texas to successfully utilize the Low Income Housing Tax Credit (LIHTC) program.

Al Joseph, the Tribal housing director, said the Pueblo has been struggling for years to build housing for the more than 230 low income families on its housing waiting list.

“Building three or four houses a year wasn’t making a dent in the great need we have,” he said. “Now, we are able to take our vision of providing affordable housing at a significant scale to help some of the neediest families.”

Travois, Inc. acted as a consultant to YDSP and helped the Pueblo apply for and receive a $781,794 award of tax credits from the Texas Department of Housing and Community Affairs and a $600,000 Affordable Housing Program from the Federal Home Loan Bank of San Francisco.

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A TRAVOIS

is a frame slung between trailing poles and pulled by a dog or horse, formerly used by Plains Indians as a conveyance for goods and belongings.

A. Rafton Canning / Bibliothèque et Archives Canada / PA-029769

The Low Income Housing Tax Credit Program and the New Markets Tax Credit Program provide capital from private investors to help you leverage your precious NAHASDA funds and realize your overall economic development goals.

If you plan to build or rehabilitate housing units, the Low Income Housing Tax Credit program can provide financing for four times as many homes as NAHASDA funds alone. For example, a tribe can build 10 new three- or four-bedroom houses for about $1.2 million using NAHASDA funds. Under the LIHTC program, you could build 40 units using the same amount of NAHASDA funds. If your tribe is in a Qualified Census Tract (QCT), and most tribes are, you could build 60 or more units with the LIHTC program for the same $1.2 million in NAHASDA funds.

If you, or entrepreneurs in your community, plan to start businesses or undertake economic development projects, the New Markets Tax Credit program can provide 20 percent of the funds you need. The New Markets Tax Credit leverages financing with greatly decreased interest rates and significantly more flexible terms than are available in the current market. It can be used to finance the construction, expansion or operation of facilities for commercial, industrial, health care or community development uses.