DEPARTMENT: Department of Planning and Community Development
DEPARTMENT HEAD: John M. Dugan
COUNCIL DISTRICTS IMPACTED: 4, 8, 9, 10, and ETJ
SUBJECT:
Resolution of Support for Applicants Seeking Texas Department of Housing and Community Affairs Housing Tax Credits
SUMMARY:
This item presents to the City Council recommendations for a "Resolution of Support" for multi-family rental housing development projects applying for housing tax credits from the Texas Department of Housing and Community Affairs.
BACKGROUND INFORMATION:
The Texas Department of Housing and Community Affairs (TDHCA) in the administration of its Housing Tax Credit (HTC) Program awards competitive application points for a resolution(s) from a Governing Body of a municipality on the following basis:
(A) Within a municipality, the application will receive:
· seventeen (17) points for a resolution from the Governing Body of that municipality expressly setting forth that the municipality supports the application or development; or
· fourteen (14) points for a resolution from the Governing Body of that municipality expressly setting forth that the municipality has no objection to the application or development.
(B) Within the extraterritorial jurisdiction of a municipality, the Application may receive:
· eight and one‐half (8.5) points for a resolution from the Governing Body of that municipality expressly setting forth that the municipality supports the Application or Development; or
· seven (7) points for a resolution from the Governing Body of that municipality expressly setting forth that the municipality has no objection to the Application or Development
ISSUE:
Utilizing the City Council adopted evaluation criteria and TDHCA's 2015 Qualified Allocation Plan (QAP), staff developed an application process and schedule. On January 30, 2015, the City issued a request for applications for multi-family rental housing development projects seeking a San Antonio City Council Resolution of Support or No Objection in connection with the Texas Department of Housing and Community Affairs Housing Tax Credit program. Applications were due on February 10, 2015 and must score at least 85 points on the 165 point scoring system to receive a staff recommendation for a Resolution of Support. Applicants scoring less than 85 points, will receive a staff recommendation for a Resolution of No Objection, provided the applicant received at least six experience points under "I. General Partner and Property Manager Experience" of the application.
A total of nine applications were submitted with scores ranging from 89 points to 109 points. All nine of the projects are recommended for a Resolution of Support:
A. Artisan at Judson Park is located east of the intersection of O'Connor Road and North Loop 1604 East, in San Antonio, Texas 78247, in Council District 10. This project is being developed by Franklin Development Properties, Ltd. The126-unit development will exclusively assist households at 60% or below of area median income. This project scored 109 points.
B. Artisan at Potranco Park is located at 11855 Potranco Rd, San Antonio, Texas 78253, in Council District 4. This project is being developed by Franklin Development Properties, Ltd. The126-unit development will exclusively assist households at 60% or below of area median income. This project scored 109 points.
C. Bristol Pointe is located in the southwest quadrant of Overlook Parkway and Highway 281, in San Antonio, Texas 78260, in the extraterritorial jurisdiction. This project is being developed by Wolfpack Group, LLC. The102-unit development will set aside 95 units for households at 60% or below of area median income. This project scored 94 points.
D. Madison Apartments is located on the northeast quadrant of Highway 281 and Sendero Verde, in San Antonio, Texas 78261, in the extraterritorial jurisdiction. This project is being developed by VDC Sendero Bexar, LP. The 160-unit development will exclusively assist households at 60% or below of area median income. This project scored 91 points.
E. Medio Springs Ranch Apartments is located at 1530 Marbach Oaks, in San Antonio, Texas 78245, in the extraterritorial jurisdiction. This project is being developed by Medio Springs, LP. The 180-unit development will set aside 170 units for households at 60% or below of area median income. This project scored 92 points.
F. Silver Oak Village is located on the north side of Loop 1604 near Lou Mel, in San Antonio, Texas 78257, in Council District 8. This project is being developed by VDC Lou Mel SA, LP. The 160-unit development will exclusively assist households at 60% or below of area median income. This project scored 90 points.
G. Sonoma Pointe is located near the intersection of Moss Brook Drive and Babcock Road, in San Antonio, Texas 78255, in Council District 8. This project is being developed by Sonoma Pointe Ltd. The 72-unit development will exclusively assist households at 60% or below of area median income. This project scored 89 points.
H. Venado Parque is located in the southeast quadrant of Loop 1604 and Huebner Road, in San Antonio, Texas 78248, in Council District 9. This project is being developed by Anthem Builders, LLC. The 100-unit will set aside 95 units for households at 60% or below of area median income. This project scored 96 points.
I. Vista Pointe at Wild Pine is located between Wild Pine and Alamo Ranch Parkway, in San Antonio, Texas 78253, in the extraterritorial jurisdiction. This project is being developed by Vista Pointe at Wild Pine, Ltd. The 108-unit development will exclusively assist households at 60% or below of area median income. This project scored 89 points.
ALTERNATIVES:
Not providing the opportunity for multi-family rental housing development projects to seek a San Antonio City Council Resolution of Support would adversely impact the developer's application with the Texas Department of Housing and Community Affairs Housing Tax Credit program and may deem the affordable housing development financially infeasible.
FISCAL IMPACT:
There is no fiscal impact to the City's Budget.
RECOMMENDATION:
Staff recommends issuing Resolutions of Support for the multi-family rental housing development projects listed herein seeking housing tax credits from the Texas Department of Housing and Community Affairs.