PFA Announces Partnership with TIP
PFA and TIP bridge the gap between when developers need a loan and when the local MUD gives that loan
TEXAS – Over the past two decades, Texas has outpaced nearly every other state in population growth, especially in large metropolitan areas. This should present Texans with an array of economic and social opportunities. However, the growing population, paired with a lack of available housing, has created a major challenge in residential real-estate. There is a huge demand for housing, but limited accessibility. This is where Public Finance Authority (PFA) is stepping in.
“PFA is partnering with the Texas Infrastructure Program (TIP) to issue bonds to home developers in Texas. Four years ago, the economy was surging, interest rates were down, and banks were giving out loans to nearly anyone willing to develop properties. Now, the economy is slowing down, interest rates are higher, and it’s tough for developers to receive manageable loans,” said Michael Libera of Samco Capital. Libera continued, “TIP works to provide early stage infrastructure financing through innovative, tax-exempt solutions, and they are committed to revolutionizing residential real-estate. This partnership will allow PFA to increase access to housing in the growing areas of Texas.”
PFA was established By Local Government, For Local Government ™, to provide a means to efficiently and reliably finance projects. This partnership between PFA and TIP will benefit Texans by increasing access to housing, especially in metro areas with increased interest. Seeing the expansion of large cities should be an exciting time filled with opportunity. PFA understands that and wants to ease the struggle of finding affordable housing. The best way to do so is through this partnership with TIP.