The Tennessee Housing Development Agency: A Guide to Affordable Housing in Tennessee
The Tennessee Housing Development Agency (THDA) is a public corporation created by the Tennessee General Assembly in 1971. Its mission is to provide affordable housing opportunities to Tennessee residents through a variety of programs.
What Does THDA Do?
THDA works to achieve its mission through a variety of programs, including:
1. Housing Development:
- Financing: THDA provides financing for the construction, rehabilitation, and preservation of affordable housing projects across the state. This includes single-family homes, multifamily apartment complexes, and senior housing facilities.
- Tax Credits: THDA allocates federal and state tax credits to developers to incentivize the creation of affordable housing projects.
2. Homeownership Assistance:
- Down Payment Assistance: THDA offers down payment assistance programs to help eligible homebuyers in Tennessee afford the down payment on a new home.
- Mortgage Credit Certificates: THDA provides mortgage credit certificates that can reduce the amount of federal income tax owed by eligible homeowners.
- First-Time Homebuyer Programs: THDA offers programs specifically designed to assist first-time homebuyers in purchasing a home.
3. Rental Assistance:
- Housing Choice Voucher Program (Section 8): THDA administers the Housing Choice Voucher Program, which provides rental assistance to low-income families.
- Project-Based Rental Assistance: THDA provides rental assistance to landlords of affordable housing projects, allowing them to keep rents affordable for eligible tenants.
4. Community Development:
- Community Development Block Grants (CDBG): THDA administers the Community Development Block Grant program, which provides funding for a variety of community development projects, including housing rehabilitation, infrastructure improvements, and economic development initiatives.
- Other Programs: THDA also administers a variety of other programs aimed at improving housing conditions and promoting economic development in Tennessee communities.
Who Can Benefit from THDA Programs?
THDA programs are available to a wide range of individuals and families, including:
- Low- and Moderate-Income Households: THDA's primary focus is on providing affordable housing to those with limited financial resources.
- First-Time Homebuyers: THDA offers specific programs to assist first-time homebuyers in achieving their dream of homeownership.
- Seniors: THDA provides financing and rental assistance programs specifically designed for senior citizens.
- Persons with Disabilities: THDA offers programs that address the unique housing needs of individuals with disabilities.
How to Get Involved with THDA
There are several ways to get involved with THDA:
- Apply for Housing Assistance: You can apply for housing assistance through THDA's website or by contacting their office directly.
- Become a Partner: THDA partners with a variety of organizations, including developers, lenders, and community groups, to provide affordable housing opportunities.
- Volunteer Your Time: You can volunteer your time to help THDA achieve its mission by participating in community outreach programs or providing support to low-income families.
THDA is a vital resource for providing affordable housing opportunities to Tennesseans. By working with developers, lenders, and community organizations, THDA is helping to make the dream of homeownership a reality for more people in the state.
