The Housing and Community Development Department (HCDD) recommends Council approve a Resolution of No Objection for the two applications for 4% Housing Tax Credits (HTCs) listed below. A public hearing on this Resolution was held on December 11, 2019.
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Development Name
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Development Address
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HCDD Priority
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Council District
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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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For remaining four applications, a public hearing on this Resolution for 4% Housing Tax Credits (HTCs) will be held on December 18, 2019.
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Development Name
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Development Address
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HCDD Priority
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Council District
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Target Population
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New Hope Housing Avenue J
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5220 Avenue J
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Located within Community Reinvestment Area (TIRZ 18)
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H
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Family
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Avenue on 34th
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2136 W. 34thSt.
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Areas experiencing high rental costs that cause displacement of LMI households
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C
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Family
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Elgin Place
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3345 Elgin
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Located within Third Ward Complete Communities
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D
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Seniors
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Scott Street Lofts
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1320 Scott St.
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Transit Oriented Development
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I
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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.
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.
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.
The Housing and Community Affairs Committee reviewed this item on November 19, 2019.
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Tom McCasland, Director