Council approves private‑activity bond resolution to support Southeast Texas Housing Finance programs

The Tomball City Council approved Resolution No. 2025‑37 on Aug. 25, signaling the city’s support for private‑activity bonds issued by the Southeast Texas Housing Finance Corporation (SETH) and highlighting SETH’s homeownership assistance programs. SETH Director of Housing Programs Rhonda Mitchell briefed the council on local program activity: down‑payment and closing‑cost assistance programs (including a long‑running “5 Star” program), a My Home Plus product that can buy down mortgage rates, and a Mortgage Credit Certificate (MCC) program that provides a refundable federal tax credit equal to 20% of annual mortgage interest and a $2,500 grant linked to MCC participation. Mitchell said average sales price for homes financed through SETH programs in Tomball over the prior 12 months was about $327,000 and average household income for participating families was about $105,300; she said SETH’s income limits for Tomball are “generous,” with a cited maximum of $142,800. Council action: A motion to approve the resolution passed (motion carries). Council thanked SETH representatives for program outreach and asked staff to continue sharing program information with prospective homebuyers. Background and next steps: The resolution is a standard local action to allow the housing finance corporation to issue private‑activity bonds that support affordable housing programs; staff noted the bond issuance and program administration are managed by SETH and that eligible homebuyers and lenders should consult SETH materials for program specifics.