The Housing and Community Development Department (HCD) recommends Council approve a Resolution of No Objection for the 4% tax credit application of Bissonnet Apartments Limited Partnership.
Bissonnet Apartments Limited Partnership has applied to the Texas Department of Housing and Community Affairs (TDHCA) requesting an award of non-competitive 4% tax credits for the construction of Bissonnet Apartments, a 264-unit affordable housing community for families located at 12000 Bissonnet Street.
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 has performed a threshold review and recommends a Resolution of No Objection for the following reasons:
- Located in the Alief-Westwood Complete Community
- Not located in a floodway or 100-year floodplain
Because the Houston Housing Authority will own fee title to the land on which Bissonnet Apartments is located and equitable title to the improvements comprising the development, Bissonnet Apartments will be exempt from ad valorem taxes.
A public hearing on this Resolution was held on October 4, 2023.
This item was reviewed by the Housing and Community Affairs Committee on September 19, 2023.
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Keith W. Byam, Director