Today, August 10, the Texas General Land Office disaster recovery team will celebrate the completion of two multifamily housing complexes to replace affordable rental housing damaged or destroyed in Hurricane Harvey. The GLO awarded $8,650,000 to rebuild Coastal Bend Crossing , an 80-unit affordable rental complex in Aransas Pass, in addition to $18,375,435 to rebuild the Fox Run Apartments , a 150-unit multifamily community in Victoria . More than 83% of these units are guaranteed for low-to-moderate-income (LMI) residents, with 42 of the Coastal Bend Crossing units and all 150 of the Fox Run Apartments units being set aside specifically for LMI families.
The media is welcome at both events.
WHO
Texas General Land Office disaster recovery team, local officials and partners
WHAT
Visit two multifamily rental projects built or repaired using $27 million in grant funds from the GLO disaster recovery assistance program
WHEN
Tuesday, August 10
9:00 a.m. – Coastal Bend ribbon cutting
2175 W Wheeler Ave, Aransas Pass, TX 78366
1:30 p.m. – Fox Run Apartments ribbon cutting
2008 Sam Houston Dr, Victoria, TX 77901
The Texas General Land Office (GLO) has undertaken very impressive efforts using $588 million in Community Development Block Grant for Disaster Recovery (CDBG-DR) funds from the U.S. Department of Housing and Urban Development (HUD) funds to help rehabilitate, reconstruct and construct 80 multifamily rental housing damaged or destroyed by Hurricane Harvey in 48 eligible counties outside of the city of Houston and Harris County, which requested and were granted direct allocations of funds from HUD to conduct housing programs.
In total, 6,000 rental homes are being rebuilt or newly constructed to replenish affordable workforce housing. Of the multifamily affordable housing units being rebuilt by the GLO, nearly 80% are guaranteed to house low-to moderate-income residents for 20 years after completion of new construction and 15 years after completion of repairs.
In this program, applicants for the funding are required to designate at least 51% of the units for low- to moderate-income families with rents capped at the U.S. Department of Housing and Urban Development’s (HUD) Home Investment Partnership (HOME) limits. Per HUD guidelines, a family is considered low- to moderate-income if they earn 80% or less than the Area Median Family Income (AMFI). Each apartment complex will be restricted for low income housing for 20 years after completion of new construction and 15 years after completion of repairs.
For more information, please visit https://recovery.texas.gov/local-government/programs/affordable-rental-housing-program/index.html.