December 2001 brought an end to another successful year for THDA. Though the tragic events of September 11 and their aftermath threatened the stability of several segments of the economy, the housing industry remained strong. For most of 2001, the economic environment was very positive for affordable housing. Conventional interest rates dropped to an all time low; however, THDA was able to continue to maintain below market interest rates.

Through our many partnerships with housing providers, mortgage and real estate professionals, non-profits and other governmental entities, THDA has continued to carry out its mission to provide safe, sound, affordable housing to low and moderate income families across the state with the mortgage programs, HOME Grant Program, Tax Credits, Multifamily Bond Authority, and Section 8 Rental Assistance and Contract Administration. THDA has always been an unusual government agency. We are a public agency, but we depend on the private sector to deliver most of our programs. Banks and mortgage companies offer THDA loans, real estate agents help people learn about THDA, and others complete the transactions and service the loans. Local governments and non-profits administer the grant funding. We have been successful, but only because so many others have done so much for the people that we serve.

During the last year, THDA provided mortgage financing for over 2,100 families, allocated authority for over 2,400 affordable rental units to be built or rehabilitated, made housing grants for over 500 housing units, and helped administer the Section 8 rental assistance program for over 32,000 Tennessee families. We are committed to continuing our efforts of making housing affordable for Tennesseans. We will strive to better serve the citizens of our state by exploring new programs, by improving our technology, and by managing and maintaining quality customer service.

This Annual Report summarizes THDA's programs, and provides basic information on each program - who we serve, how we serve, new initiatives and resources allocated. For more information about current programs and statistics on prior years, return to our Home Page on this web site.