The Housing and Community Development Department (HCD) recommends Council approve a Resolution of No Objection for the 4% tax credit application of Landing on Orem, LP.
Landing on Orem, LP 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 Landing on Orem, a 369-unit affordable housing community for families located at 5425 East Orem Drive, Houston, TX 77048.
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.
HCD has performed a threshold review and recommends a Resolution of No Objection for the following reasons:
- Located in TIRZ 8 – Gulfgate
- Not located in a floodway or 100-year floodplain
Because the Houston Housing Authority will own fee title to the land on which Landing on Orem is located and equitable title to the improvements comprising the development, Landing on Orem will be exempt from ad valorem taxes.
A public hearing on this Resolution was held on December 6, 2023.
The Housing and Community Affairs Chair was briefed on this item on November 30, 2023.
___________________________
Keith W. Byam, Director