History

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" colspan=2 height=90 BGCOLOR="#006699" TEXT="#080000" background="06cfd5a3.jpg"> <div> <FONT SIZE="5" COLOR="#FFFFFF" FACE="Arial" ><B>Denton Affordable Housing Corp.</B></FONT><FONT SIZE="1" COLOR="#000000" FACE="Arial" ><B>    </B></FONT><B> |     </B><A HREF="index.htm" TARGET="_top" TITLE="Denton Affordable Housing Corp."><B>home</B></A></div> <div> <A HREF="id18.htm" TARGET="_top" TITLE="Eligibility">Eligibility</A>   |   <A HREF="id19.htm" TARGET="_top" TITLE="Lenders">Lenders</A>   |   <A HREF="id20.htm" TARGET="_top" TITLE="Houses">Houses</A>   |   <A HREF="id21.htm" TARGET="_top" TITLE="Ready to buy?">Ready to buy?</A>   |   <A HREF="id22.htm" TARGET="_top" TITLE="Rentals">Rentals</A>   |   <B>History</B>   |   <A HREF="id125.htm" TARGET="_top" TITLE="Volunteers">Volunteers</A>   |   <A HREF="id127.htm" TARGET="_top" TITLE="Nevada Court Green Building">Nevada Court - Green Building</A></div> <div> </div> </td> </tr><tr> <td valign="top" width=210 BGCOLOR="#FFCC66" TEXT="#080000" background="06dd2b03.jpg"> <div> <A HREF="id18.htm" TARGET="_top" TITLE="Eligibility">Eligibility</A></div> <bR> <div> <A HREF="id19.htm" TARGET="_top" TITLE="Lenders">Lenders</A></div> <bR> <div> <A HREF="id20.htm" TARGET="_top" TITLE="Houses">Houses</A></div> <bR> <div> <A HREF="id21.htm" TARGET="_top" TITLE="Ready to buy?">Ready to buy?</A></div> <bR> <div> <A HREF="id22.htm" TARGET="_top" TITLE="Rentals">Rentals</A></div> <bR> <div> <A HREF="id26.htm" TARGET="_top" TITLE="History">History</A></div> <bR> <div> <A HREF="id125.htm" TARGET="_top" TITLE="Volunteers">Volunteers</A></div> </td> <td valign="top" height=390 width="100%" BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <I>History</I></div> <bR> <DIV ALIGN="LEFT"></DIV> <div> <B>Historic Overview of DAHC</B></div> <bR> <div> Denton Affordable Housing Corporation (DAHC) is a community-based nonprofit organization which began operating in 1995 to address the need for affordable housing in Denton.  It was originally formed in 1993, in response to recommendations from the City of Denton Mayor's Task Force on Affordable Housing.  The City of Denton Community Development Department was instrumental in the formation of the corporation and provided some initial capitalization funds as well as staff support in preparing organizational documents and coordinating meetings until DAHC staff had been hired.  The establishment of a nonprofit housing developer was also beneficial to the City in that the resulting partnership with a Community Housing Development Organization (CHDO) such as DAHC enabled them to maximize their ability to obtain federal HOME Investment Partnership Program funds.</div> <bR> <div> Beginning with a budget of less than $100,000 the Board of Directors hired their first Executive Director and opened the door for business in June of 1995.  The organization became active in affordable housing production and has developed into a recognized provider of affordable housing units in the Denton area.  Its original targeted area was the City of Denton, but its service expanded into Denton County.</div> <bR> <div> Denton's housing market, like most college communities, suffers from "artificially inflated" rental prices driven primarily by the high percentage of students who are willing to "double up" and share expenses.  Additionally, its nearby location to the Dallas-Fort Worth MSA affects the local economy and housing availability and prices.  By 1995, with high rent and low vacancy rates, the "working poor" in Denton County were experiencing hard times in location suitable affordable housing.  Nearly 74% of the 11,500 low-income renter households were identified as either living in substandard housing or paying more than 30% of their monthly income for housing costs.  Minority families, with substantially lower annual incomes, experience even greater difficulties in locating suitable housing.  The need for additional affordable rental properties for low-income families was apparent.</div> <div>   </div> <bR> <DIV ALIGN="LEFT"></DIV> <div> *DAHC*</div> <div> <FONT SIZE="3" COLOR="#000000" FACE="Arial" ><B><IMG SRC="0fe1d150.gif" border=0 width="29" height="21" ALIGN="BOTTOM" HSPACE="0" VSPACE="0">  </B> </FONT>604 N. Bell Ave. Denton, TX 76209 940-484-7048 E-mail: <A HREF="mailto: dentondahc@aol.com" TARGET="_top" TITLE="mailto: dentondahc@aol.com">dentondahc@aol.com</A> <FONT SIZE="1" COLOR="#FFFBF0" FACE="Arial" >or</FONT></div> </td> </tr></table></body>