How We Partner

Work With Us

Programs We Fund
SAHT and Foundation provides grants, loans, and other forms of financing to non-profits and social enterprises who meet the programmatic goals of assisting inequitably disadvantaged households such as the elderly, persons with physical or mental disabilities, low-income families with children, homeless, chronically ill, or other inequitably disadvantaged populations.

Projects We Work On
The San Antonio Housing Trust Public Facility Corporation provides partnerships with tax-credit-equity and private-equity-structured developments to reduce sales tax obligation on construction materials and lower operating expenses by exempting property taxes on a project that meets certain income targeting, as well as community objectives and outcomes. The Finance Corporation issues private activity bonds to support the development or preservation of affordable housing projects.

Development Process

The San Antonio Housing Trust shall prepare a more detailed formalized Program Guide on how we partner once we adopt a new Five Year Strategic Plan, however in the meantime, please see the below process summary.

Application

  • For Programs, SAHT and Foundation prepares and releases a Notice of Funding Availability (NOFA). Applicants must submit responses to the NOFA in order to participate in that program. The NOFA includes a structured application schedule and requirements that the applicant must meet.
  • For Projects through the SAHT PFC and Finance Corporation, applications to the program are accepted at any time during the year. PRIOR to application submission, the applicant schedules a meeting with our team to discuss the project’s investment standards, priorities, and SAHT’s expectations. 
  • A completed program application, all required supplemental documentation, and program fee(s) must be signed and submitted to SAHT before Foundation staff begins its review.  
  • SAHT evaluates the project and conducts preliminary underwriting and due diligence of the application materials submitted; then, confirms that income-targeting requirements are met.  
  • SAHT may request follow up items from the applicant if it is necessary to determine project viability and eligibility.  
  • SAHT arranges further discussion with the applicant to negotiate the terms of SAHT assistance for the project.  
  • During this process, SAHT may request additional information or documentation to clarify any constraints around the terms being negotiated.

Initial Approval

  • Upon mutual agreement of the terms, Foundation staff will document the terms in a Non-Binding Term Sheet/Memorandum of Understanding. 
  • Upon receipt of the applicant’s acceptance of the Non-Binding Term Sheet/Memorandum of Understanding, Foundation staff will schedule and prepare the application for SAHT Board Subcommittee review and recommendation to the full SAHT Board for initial inducement.  
  • For loan applicants, the term sheet will be provided in conjunction with the Selection Letter to Applicant.   
  • The Subcommittee reviews the materials provided by staff and determines a recommendation to the full SAHT Board.  
  • The Subcommittee will render one of three recommendations:  (1) Approve with no changes; (2) Approve with changes; or (3) Not to approve.  
  • All program applications must undergo Primary Board Approval.  
  • The Executive Director presents the terms of the project and Subcommittee’s recommendation to the Trust Board.  
  • For Loan Applicants, the Board issues a written Resolution for SAHT to finalize and execute the loan documents.   For the other programs, the Board issues written Resolution accepting the terms of the Non-Binding Term Sheet/Memorandum of Understanding.  
  • The SAHT attorney finalizes the Term Sheet/Memorandum of Understanding that is binding when executed between SAHT and the applicant at closing.  This action authorizes the Foundation staff and attorney to file the necessary Tax Credit applications, Texas Bond Review Board application, and other applicable documents (e.g. HUD application) that enable the project to continue securing financing.

Final Approval

  • Foundation staff performs additional review of the project with a focus on third-party reports and verification of final financial terms to ensure that the project, as contemplated, is viable and provides the stated community and financial benefits.  
  • Legal documents are drafted in anticipation of final approvals and closing. 
  • Foundation staff and Counsel are participating in regular closing conference calls.  
  • If there are significant changes to the non-binding terms during Final Review, the changes must undergo Subcommittee review and a recommendation to the full board must be prepared prior to Final Board Review.  Applies only to the LREP, Tax Exempt Bond and Tax Exemption Partnership programs.  At this meeting, the Board will authorize the Executive Director (Assistant Secretary) to execute all documents necessary to close financing of the project.   
  • For Loan Applicants, the Executive Director executes the documents at loan closing or provides signed documents to be placed in escrow to await closing.   
  • Pre-closing process continues until the Executive Director (Assistant Secretary) executes final documents after verification that all documents have been submitted and all final financing terms have been identified and relayed to the SAHT.  
  • SAHT provides a closing checklist that is to be validated by the SAHT Asset Manager, along with the General Partnership/Bond Counsel to ensure that all required documentation is complete and ready to fund and/or close.

Post-Closing

  • Post-closing, a fully executed closing packet with all signatures and final exhibits shall be provided to SAHT within 30 days. 
  • The applicant shall provide all reporting documentation during construction to the SAHT Contract Officer who will develop a Compliance Monitoring Plan for the project.  
  • The Contract Officer will monitor the project’s progression through construction and stabilization.  
  • The SAHT Asset Manager will track all revenue and expenses during this time as well as coordinate continuing HUD, State of Texas, or Lender obligations. 
  • If there are excessive proceeds at the end of construction, the proceeds shall be disbursed according to SAHT’s Agreements.

For more information, please see the SAHT Multifamily Program Guide.

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