The Texas Department of Housing and Community Affairs (TDHCA) administers the state’s Low Income Housing Tax Credit (HTC) program, which provides federal tax credits to spur the development of quality, affordable housing. The project explicitly identified as contributing most significantly to the concerted revitalization efforts of the City (within our designated revitalization areas), will receive additional points in the competitive TDHCA scoring system.
HN Trails at Palm Center LP has submitted an application to the TDHCA requesting an award of 9% tax credits for the construction of the Trails at Palm Center apartments – a 100-unit affordable apartment property for families – to be located at 5635 Martin Luther King Jr. Blvd. This site is located within one of the City’s designated Community Revitalization Areas (CRAs), which is consistent with the TDHCA’s recognition of a Concerted Revitalization Plan in §11.9(d)(7) of TDHCA’s Qualified Allocation Plan (QAP). The construction of Trails at Palm Center, together with the nearby Villages at Palm Center development currently under construction, the new City library currently under construction, the new Texans YMCA and improvements envisioned at the Palm Center facility will serve as catalysts for revitalization of the surrounding neighborhood.
The Housing and Community Development Department recommends City Council approve the Resolution explicitly identifying Trails at Palm Center as contributing most significantly to the concerted revitalization efforts of the City, consistent with and within the CRAs. This provision is intended to comply with §11.9(d)(7) of TDHCA’s Qualified Allocation Plan (QAP), and, in particular, meant to identify the Project for the additional points under sub-clause (A)(ii)(II) of §11.9(d)(7) of the QAP.
This proposal was presented to the Housing and Community Affairs Committee on February 16, 2016.
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Neal Rackleff, Director
Housing & Community Development Department