What is the basis for Austin Housing Finance Corporation (AHFC)s existence?
In 1978, the Texas Legislature created Section 394 of the local government code to assist cities in forming specialized Local Housing Finance Corporations with great latitude to issue housing bonds. The Austin City council formed the Austin Housing Finance Corporation (AHFC) in 1979 and appointed itself as its governing body. The mission of the AHFC is to facilitate the financing and construction of rental and owner occupied decent, safe and sanitary affordable accessible housing for low and moderate-income residents of Austin.
