DEPARTMENT: Department of Planning and Community Development
DEPARTMENT HEAD: John M. Dugan
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
An Ordinance revising criteria for evaluating applications seeking U.S. Department of Housing and Urban Development (HUD) Home Investment Partnerships (HOME) program funding assistance and other City assistance in support of multi-family rental housing development activities.
SUMMARY:
An Ordinance revising criteria for evaluating applications seeking U.S. Department of Housing and Urban Development (HUD) Home Investment Partnerships (HOME) program funding assistance and other City assistance in support of multi-family rental housing development activities.
BACKGROUND INFORMATION:
As a result of a 2012 federal lawsuit alleging violations of the Fair Housing Act and Equal Protection Clause of the Fourteenth Amendment by the Texas Department of Housing and Community Affairs (TDHCA) in its administration of the low-income housing tax credit program, the TDHCA has implemented an annual Qualified Allocation Plan (QAP) incentivizing projects proposed in high opportunity areas, such as those with lower poverty levels and high-performing schools. As a result, applicants seeking to develop affordable housing within the COSA city limits through the TDHCA Housing Tax Credit (HTC) Program are requesting, or will be requesting, City Council resolutions of support and City-administered federal financial assistance through the HOME Program for projects in High Opportunity Areas (HOAs), which are areas with relatively low poverty rates, higher median incomes, and schools with higher overall performance. HOAs are more fully described below. (See Issues c, d and e, and 5 - Site Characteristics and Transit Amenities)
ISSUE:
The City allocates Federal resources to a Multifamily Rental Development Set-Aside to provide loan assistance to affordable rental housing developments. The City releases a Req...
Click here for full text