DEPARTMENT: Department of Planning and Community Development
DEPARTMENT HEAD: John M. Dugan
COUNCIL DISTRICTS IMPACTED: ETJ
SUBJECT:
Resolution of Support for Venado Parque
SUMMARY:
This item presents to the City Council a recommendation for a "Resolution of Support" for Venado Parque, a multi-family rental housing development project applying for competitive 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 needed to 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 could only receive a staff recommendation for a Resolution of No Objection, provided the applicant had received at least six experience points under "I. General Partner and Property Manager Experience" of the application. A total of nine applications were received with scores ranging from 89 points to 109 points. On February 19, 2015, City Council approved Resolutions of Support for eight of the nine applicant projects, but deferred final action on Venado Parque project until March 12, 2015. In doing so, City Council expressed a desire for the developer to engage and meet with representatives of the homeowners association that had voiced concerns about the project.
The developer subsequently met with interested homeowners' associations, including several representatives from the immediately adjoining Waters at Deerfield, on Tuesday, February 24, 2015. During this meeting, a partner and a project manager with the development company, as well as an engineer from a local engineering firm, provided an overview of the project, presented project renderings, and responded to several homeowner association questions and concerns.
Venado Parque is located in the southeast quadrant of Loop 1604 and Huebner Road, in San Antonio, Texas 78248, in the Extraterritorial Jurisdiction. This project is being developed by Anthem Builders, LLC. The 100-unit project will set aside 95 units for households at 60% or below of area median income.
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 a Resolution of Support for Vendao Parque, a multi-family rental housing development project seeking housing tax credits from the Texas Department of Housing and Community Affairs.