Cameron County officials are taking significant steps to address the pressing need for affordable housing in the region. During a recent Commissioner’s Court meeting on June 2, 2025, discussions centered around a proposed development that aims to provide 368 affordable housing units, with a total projected value of approximately $58 million.

Key to the project is the initial 15-year affordability classification, which can potentially be extended to 30 years. Officials emphasized the importance of ensuring that these housing units remain affordable for the long term, with some advocating for a commitment to maintain affordability beyond the initial term. The financing structure involves tax credits and a land use regulatory agreement, which guarantees rent reductions for the first 15 years, with the possibility of extending these benefits if the property changes ownership.

Concerns were raised regarding the tax-exempt status of the property, which would mean that Cameron County would forego significant tax revenue. Estimates suggest that the county could miss out on approximately $4.5 million over the 15-year period due to this exemption. The discussions highlighted the balance between providing affordable housing and the financial implications for local services, such as law enforcement and infrastructure.

The Cameron County Housing Finance Corporation is expected to benefit from the project through a development fee and ongoing cash flow, which could amount to around $4.5 million over the same period. However, some commissioners expressed the need for a clearer understanding of the long-term financial impacts on the county and the school district, suggesting that further discussions and input from educational authorities may be necessary before moving forward.

As the county grapples with a housing shortage, officials are committed to finding solutions that not only provide affordable living options but also ensure that the financial responsibilities to the community are met. The next steps will involve continued dialogue among stakeholders to ensure that the project serves the best interests of Cameron County residents.