The Housing and Community Development Department (HCD) recommends Council approve a motion establishing a date for a public hearing to provide a Resolution of No Objection for an applicant seeking 4% Housing Tax Credits (HTCs) for the following multifamily developments:
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TDHCA APP#
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Development Name
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Development Address
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Total Units
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AMI
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Construction Type
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Target Population
|
|
24466
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Brittons Place
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3706 Lyons Avenue
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48
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50% - 60%
|
Rehab
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Family
|
|
24467
|
Pleasant Hill Village
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3814 Lyons Avenue
|
165
|
50% - 60%
|
Rehab
|
Senior
|
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.
HCD has performed a threshold review and recommends a Resolution of No Objection for the following reasons:
- Brittons Place - Preservation of Affordable Housing
- Pleasant Hill Village - Preservation of Affordable Housing
HCD requests a Motion to hold a public hearing on July 24, 2024, on the 4% tax credit Resolution of No Objection.
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Michael C. Nichols, Director