The Housing and Community Development Department (HCDD) recommends Council approve a Resolution of No Objection for the 4% tax credit application of St. Elizabeth Place LP.
St. Elizabeth Place LP, 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 adaptive reuse of the historic St. Elizabeth Hospital. St. Elizabeth Place, a 85-unit affordable housing complex, will be located at 4514 Lyons, Houston, Texas 77020 in the Fifth Ward Community.
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.
We are evaluating this project and will be going through underwriting for City of Houston funds. Upon successful completion of the underwriting process, HCDD may provide gap financing in support of their development, and will submit a subsequent request to council for approval.
HCDD has performed a threshold review and recommends a Resolution of No Objection for the following reasons:
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Located in the Fifth Ward TIRZ #18
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Construction of affordable housing
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Not located in a floodway or 100-year floodplain
A public hearing on this resolution was held on November 7, 2018.
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Tom McCasland, Director