The Housing and Community Development Department (HCD) recommends Council conduct a public hearing to provide a Resolution of No Objection for the 4% tax credit application of Brookside Gardens Apartments, LLC.
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 (including the City’s extraterritorial jurisdiction) 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.
HCD has performed a threshold review and recommends a Resolution of No Objection for the following reasons:
· Preservation of affordable housing
· Not located in a floodway or 100-year floodplain
· Low poverty concentration
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Keith W. Bynam, Director