The Housing and Community Development Department (HCDD) recommends Council approval of a Resolution of No Objection for non-competitive 4% housing tax credits for the acquisition and rehabilitation of the Lakecrest Village apartments.
Houston Leased Housing Associates V, LLLP, intends to submit an application to the Texas Department of Housing and Community Affairs (TDHCA) requesting an award of non-competitive 4% tax credits for the acquisition and rehabilitation of the Lakecrest Village apartments.
The TDHCA administers the state’s housing tax credit program, which provides federal tax credits to spur the development of quality, affordable housing.
In order to apply for the 4% tax credits, the developer must present a Resolution of No Objection from the governing body of the jurisdiction in which the development is located. HCDD recommends approval of this resolution.
A public hearing on this resolution was held on April 12, 2017.
This item was reviewed by the Housing and Community Affairs Committee on March 21, 2017.