DEPARTMENT: Department of Planning and Community Development
DEPARTMENT HEAD: John M. Dugan
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Resolution of No Objection to the Eagles Rest Affordable Rental Housing Development
SUMMARY:
A Resolution stating no objection to the applicants request for City Council Support toward their 9% Low Income Housing Tax Credit application submitted to the Texas Department of Housing and Community Affairs for the Eagles Rest project.
BACKGROUND INFORMATION:
The Texas Department of Housing and Community Affairs (TDHCA) Housing Tax Credit (HTC) Program is one of the primary means of directing private capital toward the development and preservation of affordable rental housing for low-income households. Throughout the State of Texas, tax credits are awarded to eligible participants to offset a portion of their federal tax liability in exchange for the production or preservation of affordable rental housing. Applicants are scored and ranked within their region or set-aside and in accordance with rules and laws outlined in the State's Qualified Allocation Plan (QAP).
ISSUE:
In an effort to be competitive within the TDHCA application process, the City has received a request for a resolution of support from the City for a development located in the Extraterritorial Jurisdiction (ETJ) of San Antonio. City of San Antonio Planning and Community Development staff reviewed the proposed development and is providing recommendations based on existing zoning or land use/community plans, access to public transportation within .5 miles of the proposed development, and access to parks and/or other community facilities within 1 mile of the proposed development.
Eagles Rest is a proposed 108 unit affordable housing development located on 12 acres at 8401 N FM 1560 in the ETJ of San Antonio. Eagles Rest will have a mix of 1 to 4- bedroom units to assist persons at or below 60% Area Median Income with 6 market rate units. Eagles Rest does not have a zoning requirement due to being located in the ETJ. While the project meets suburban land use density requirements and is located within 1 mile from a public park, the property is not located within .5 miles of access to public transportation (2 miles away). If awarded Tax Credits, the development would not be eligible for HOME loan assistance from the City due to the project being located outside the City of San Antonio limits.
ALTERNATIVES:
City Council may elect issue a resolution of no objection, issue a resolution of support, or not elect to approve a resolution.
FISCAL IMPACT:
This proposed action will have no impact on the General Fund budget.
RECOMMENDATION:
Staff recommends a resolution stating no objection to the applicants request for City Council Support toward their 9% Low Income Housing Tax Credit application submitted to the Texas Department of Housing and Community Affairs for the Eagles Rest project.