Travis County Facilities Corporation
About
The Travis County Facilities Corporation (TCFC) is a non-profit organization established in January 2001, authorized by the Texas Local Government Code Chapter 303. The corporation works in conjunction with the Housing Authority of Travis County to provide public facilities in an orderly, planned manner and at the lowest possible borrowing costs. TCFC has focused on affordable housing and provides for the acquisition, construction, rehabilitation, renovation, repair, equipping, furnishing, and placement of affordable housing.
What we do
TCFC provides public facilities by acquiring, constructing, rehabilitating, renovating, repairing, equipping, furnishing, and placing affordable housing in service. The corporation partners with outside developers to execute Public Facility Corporation (PFC) deals. Developers receive tax breaks on their properties in exchange for setting aside at least 50% of units for residents who earn no more than 80% of the area median income (AMI). TCFC focuses on addressing Tier 1 (market rate), Tier 2 (workforce housing), and Tier 4 (extremely affordable housing).
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Why we exist
In Travis County, 7 out of 10 districts failed to meet half of their annual District-specific goals for affordable housing production. Only 4% of the annual goal of 2,000 units were built in 2021 to accommodate residents of Travis County earning at most 30% of AMI. Less than one third of the annual goal of 1,500 new units of affordable housing targeting residents making 60-80% AMI were built in 2020. TCFC aims to address the shortage of affordable housing by providing public facilities that meet the housing needs of low to moderate-income individuals and families in Travis County.
Policy Statements
Drafted by the Board of the Housing Authority of Travis County (HATC) and its affiliate, Travis County Facilities Corporation (TCFC), the purpose of these Policy Statements is to serve as a guide and provide a framework when considering future real estate development projects.
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Frequently asked questions
What is TCFC, and what does it do?
The Travis County Facilities Corporation (TCFC) is a non-profit organization that provides public facilities by acquiring, constructing, rehabilitating, renovating, repairing, equipping, furnishing, and placing affordable housing in service. TCFC focuses on addressing Tier 1 (market rate), Tier 2 (workforce housing), and Tier 4 (extremely affordable housing).
How does TCFC address the shortage of affordable housing in Travis County?
TCFC partners with outside developers to execute Public Facility Corporation (PFC) deals. Developers receive tax breaks on their properties in exchange for setting aside at least 50% of units for residents who earn no more than 80% of the area median income (AMI). TCFC focuses on addressing Tier 1 (market rate), Tier 2 (workforce housing), and Tier 4 (extremely affordable housing).
What is a Public Facility Corporation (PFC) deal?
PFC deals work when a PFC, such as TCFC, partners with an outside developer. The developer agrees to set aside at least 50% of units built under the deal for residents making no more than 80% of area median income (AMI). In exchange, the developer receives a tax break on the property.
What is AMI?
AMI stands for Area Median Income. It is the midpoint of a region’s income distribution. The AMI is used as a measure of income to determine eligibility for affordable housing programs.
What are the tiers in affordable housing, and which tiers does TCFC address?
There are four tiers in affordable housing:
- Tier 1: 80%+ AMI or “market rate”
- Tier 2: 60-80% AMI or “workforce housing”
- Tier 3: up to 60% AMI or “deeply affordable housing”
- Tier 4: 30% AMI or “extremely affordable housing”
TCFC focuses on addressing Tier 1 (market rate), Tier 2 (workforce housing), and Tier 4 (extremely affordable housing).
Why does TCFC not address Tier 3 housing?
Tier 3 – the subject of the tax credit program – is addressed by many other entities to an extent such that we feel as though TCFC does not need to address it further. Instead TCFC chooses to focus its time and resources on workforce and extremely affordable housing.
What types of public facilities does TCFC provide for?
TCFC’s primary focus is on affordable housing. This includes the acquisition, construction, rehabilitation, renovation, repair, equipping, furnishing, and placement of affordable housing units.
What is TCFC's goal?
TCFC’s goal is to provide affordable housing for residents of Travis County in an orderly, planned manner and at the lowest possible borrowing costs. The corporation aims to help meet the affordable housing needs of the community while also ensuring that housing is of high quality and meets all necessary standards and regulations.
