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Rosalio Banuelos
Director of Multifamily Asset Management
Street: 221 East 11th Street, Austin, TX 78701
Mail: PO Box 13941, Austin, TX 78711-3941
Phone: 512-475-3357
Fax: 512-475-3359
Overview
Asset Management is responsible for oversight of development performance for all multifamily properties. The Asset Management team operates in a proactive manner by enforcing regulatory documents to minimize exposure to the Department and ensure long term financial viability of the development. Oversight activities are essentially the same for all types of developments; however, the aspects of borrower performance examined during these activities will vary by type of development due to the different program requirements. Asset managers work with the development owner and the Department’s Asset Review Committee to develop workout solutions for troubled or “at-risk” developments.
Visit the Asset Management Announcements page for material amendments to be presented to the TDHCA Board.
Visit the Asset Management Rules page for the list of rules that guide post award and asset management activities.
An Asset Manager has been assigned a portfolio of properties according to regional location. This provides development owners with one contact person for any questions related to their developments and post award activities. To find the Asset Manager assigned to your development, enter the county of the development on the Asset Manager Assignments and Contact List page.
Visit the Property For Sale section of the Multifamily Preservation Clearinghouse for listings of properties, including vacant land as well as single- and multi-family developments, which are available for purchase. Appraisals, financial information, and other useful documents are available for review to assist buyers.
The Multifamily Preservation Clearinghouse is designed to facilitate the preservation of existing affordable and subsidized multifamily rental properties in the State of Texas. It provides multifamily property owners a format to market their properties to prospective buyers interested in maintaining the affordability of a property. Real Estate Brokers, Financial Institutions, and other related entities are encouraged to post contact information.
Visit the Real Estate Analysis page for regional and statewide operating expense databases and the HTC applicable percentages and underwriting rates.
The Asset Management Division is responsible for monitoring and processing all post-award activities for developments involving Housing Tax Credits, HOME funds, National and State Housing Trust Funds, and Neighborhood Stabilization Program (NSP) funds. This manual outlines the procedures and instructions for completing activities including, but not limited to, 10% Test, Construction Status Reports, Cost Certification, LURA Origination, LURA Amendments, Application Amendments, and Ownership Transfers.
Visit the Post Award Activities Fee page for a fee schedule and instruction on submitting payment.
Visit the Financial Reports page for information and guidance regarding the Annual Owner’s Financial Certification (AOFC), Annual Property-Specific Audits, Exchange Audits, and Cash Flow Loan Evaluation.
General Post Award Deadlines Overview
General Post Award Deadlines | Item Due |
|---|---|
| 60 calendar days after closing on the bonds, regardless of the Bond Issuer (4% HTC/Bonds) | Post Bond Closure submission packet with Initial Construction Status Report for 4% HTC/Bond deals |
| As published in the QAP for the applicable award year, but July 1st of the year following submission of the Carryover Allocation Agreement (9% HTC only). | 10% Test |
| Initial Construction Status Report (due quarterly thereafter on defined quarterly due dates) |
| December 31st of the first year of the elected Credit Period (9% and 4% HTC) | Recorded LURA must be received by the Department |
| January 15th of the year following the first year of the Credit Period (9% and 4% HTC) | Cost Certification |
| April 30th of the second year following award of funds (all Developments) and every April 30th thereafter | Annual Owner’s Compliance Report (AOCR) and Annual Owner’s Financial Certification (AOFC) |
| August 1st of each year (HOME, HOME-ARP, NHTF, NSP, and TCAP-RF) | Rent Approval Requests |
| December 31st of the second year following award of funds (9% HTC) | Placement in Service – evidence will be submitted with cost certification packet submission |
| 30 days following construction completion | Final Construction Inspection request |
| 45 days prior to any upcoming Board meeting | Material Amendments and LURA Amendments |
| 45 days prior to any property sale or transfer of ownership | Ownership Transfers |