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 one applicant seeking 4% Housing Tax Credits (HTCs) for the following multifamily development:
|
TDHCA APP#
|
Development Name
|
Development Address
|
Total Units |
Construction Type
|
Target Population
|
|
24481
|
Enclave on Louetta
|
2324 Louetta Rd, Spring, TX 77388
|
358 at
60% AMI
|
New Construction
|
Family
|
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:
- Zoned schools have met standards
- Not located in 100-year flood plain
- Poverty concentration below 25%
HCD requests a Motion to hold a Public Hearing on October 30, 2024, on the 4% tax credit Resolution of No Objection.
This item was reviewed by the Housing and Affordability Committee on October 15, 2024.
___________________________________
Michael Nichols, Director