DEPARTMENT: Neighborhood and Housing Services
DEPARTMENT HEAD: Ver?nica R. Soto, AICP
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Consideration of Resolutions of Support for multifamily rental housing development projects for respondents seeking 2019 Competitive 9% Housing Tax Credits (HTC) from the Texas Department of Housing and Community Affairs (TDHCA). Two respondents also requested a Resolution to waive the TDHCA "One-Mile, Three-Year" rule for the construction of new HTC developments within one-linear mile of developments awarded within the prior three years, and six respondents requested a Resolution identifying their projects as contributing more than any other to the concerted revitalization efforts of the municipality. Additionally, all 12 applicants requested a letter from City staff confirming the City's contribution to their project of at least $500.
SUMMARY:
Consideration of Resolutions of Support for multifamily rental housing development projects for respondents seeking 2019 Competitive 9% Housing Tax Credits (HTC) from the Texas Department of Housing and Community Affairs (TDHCA). Two respondents also requested a Resolution to waive the TDHCA "One-Mile, Three Year" rule for the construction of new HTC developments within one-linear mile of developments awarded within the prior three years, and six respondents requested a Resolution identifying their projects as contributing more than any other to the concerted revitalization efforts of the municipality. Additionally, all 12 applicants requested a letter from City staff confirming the City's contribution to their project of at least $500.
BACKGROUND INFORMATION:
The Texas Department of Housing and Community Affairs' (TDHCA) Housing Tax Credit (HTC) program is one of the primary means of incentivizing private capital toward the development and preservation of affordable housing in the state of Texas. HTCs are awarded to offset a portion of federal tax liability in exchange for the p...
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