The Housing and Community Development Department (HCDD) recommends Council approve a motion establishing a date for a public hearing to provide a Resolution of No Objection for the six applications for 4% Housing Tax Credits (HTCs) listed below:
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Development Name
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Development Address
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HCDD Priority
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Coun Dist
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Target Population
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2100 Memorial
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2100 Memorial
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Preservation of existing affordable housing
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H
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Seniors
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W. Leo Daniels Tower I
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8826 Harrell St.
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Preservation of existing affordable housing
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H
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Seniors
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The TDHCA administers the state’s housing tax credit program, which provides federal tax credits to spur the development of quality, affordable housing.
Per Texas Government Code Section 2306-67071, the governing body of the jurisdiction where a project is to be located must “hold a hearing …to solicit public input concerning the Application or Development” before a developer can submit an application for noncompetitive 4% tax credits.
The multifamily developments listed above were selected for funding through HCDD’s Harvey Multifamily Program. Upon successful completion of the underwriting process, HCDD intends to provide gap funding in support of each development.
HCDD requests a Motion to hold a public hearing on December 11, 2019, on the 4% tax credit Resolution of No Objection.
The Housing and Community Affairs Committee reviewed this item on November 19, 2019.
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Tom McCasland, Director