The Rowlett Housing Finance Corporation was incorporated in 2017 to provide single family and multifamily affordable homes for working class families and seniors. It is established under Chapter 394 of the Texas Local Government Code as a not for profit, governmental entity corporation.

The Board of Directors of the Corporation is comprised of five volunteer residents of Rowlett appointed by the Rowlett City Council.  They offer strategic guidance and vision for the HFC that is then carried out and managed by the Executive Director of the Corporation.  The programs offered by the HFC are designed to increase affordable housing opportunities while strengthening Rowlett’s economic base.

President: Barbara Holst
Vice President: Karl Crawley
Director: Riki Harper
Director:  Dan Pence
Director: Debby Bobbitt

Executive Director: Rick Sheffield

Proud member of:

Rowlett Chamber of Commerce
Texas Association of Local Housing Finance Agencies
Texas Affiliation of Affordable Housing Providers
National Association of Local Housing Finance Agencies

  • Benefits of a Housing Finance Corporation:
    • For the Developer:
      • HFC owns the land, providing a tax benefit to the developer
      • HFC also exempts sales tax for hard construction costs
  • For the HFC:
    • Receives payment for benefits provided to the developer
    • Maintains fee simple title to the land; City’s long-term control feature over the development
  • For the Community:
    • Benefits from programs for citizens to encourage home ownership
      • Down Payment Assistance
      • Mortgage Credit
      • Community Re-development Projects
      • Required to remain affordable for a minimum of 15 years (can be up to 30 years)