HCDD requests a motion to hold a public hearing October 5, 2016 on the 4% tax credit Resolution of No Objection for a Houston Housing Authority development in Independence Heights.
The Texas Department of Housing and Community Affairs (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 and the TDHCA’s 2016 Qualified Action Plan, the local 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 non-competitive 4% tax credits.
APV Redevelopment Corporation intends to submit an application to the TDHCA requesting an award of 4% tax credits for Independence Heights – a 154-unit affordable housing community to be located at 8606 North Main Street. HCDD invested $750,000 to assist with acquisition of the site for the Houston Housing Authority. That acquisition was authorized in an ordinance approved by City Council on April 1, 2015.
This item was reviewed by the Housing and Community Affairs Committee on September 20, 2016.