PILLAR: Vibrant
AGENDA DATE: November 12, 2025
COUNCIL DISTRICT(S): Citywide
DEPARTMENT: Office of Housing and Community Empowerment
PRIORITY: Neighborhood Revitalization
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SUBJECT
Title
A resolution to authorize (1) the Dallas Housing Finance Corporation (DHFC or Corporation) to delegate to the Texas Department of Housing and Community Affairs (TDHCA) its authority to issue Qualified Mortgage Revenue Bonds (Bonds) to be administered by the TDHCA through the Texas Homebuyer Program in an amount not to exceed $61,000,000.00; and (2) an assignment agreement between the DHFC and the TDHCA for the assignment of the Bonds - Financing: No cost consideration to the City
*In alignment with Dallas Housing Policy 2033.
Body
BACKGROUND
The purpose of this agenda item is to consider and adopt a resolution authorizing (1) the DHFC to delegate to the TDHCA its authority to issue Bonds for the purpose of obtaining funds to finance home mortgage loans for persons of low and moderate income and (2) an agreement assigning the Bonds to be administered by the TDHCA through the Texas Homebuyer Program (Program) in an amount not to exceed $61,000,000.00. As with all bonds issued by the DHFC, the Bonds are non-recourse to both the City and the Corporation. They are not liabilities of the City.
The Program is administered by TDHCA and targeted to first time homebuyers and veterans to provide below-market mortgages to Texans that include down payment assistance (DPA) included as either a forgivable or deferred second lien. Interest rates vary based on type of DPA received, location of the home, and market conditions at the time of close.
Different program options are offered to homebuyers seeking assistance in targeted or non-targeted areas. Targeted areas include qualified census tracts (QCTs) and areas of chronic economic stress, and these areas allow for higher purchase price limits and higher homebuyer inco...
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