DEPARTMENT: Department of Planning and Community Development
DEPARTMENT HEAD: Bridgett White
COUNCIL DISTRICTS IMPACTED: Council District 2
SUBJECT:
Resolution of Support for the San Antonio Housing Authority's East Meadows Phase II Multi-Family Project
SUMMARY:
A Resolution of Support for the San Antonio Housing Authority application to the Texas Department of Housing and Community Affairs for competitive (9%) housing tax credits for the development of East Meadows Phase II Multi-Family Project, a 117 unit rental housing development located at 1411 N. Walters in Council District 2.
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 in the state of Texas. HTC 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. There are two types of HTC: competitive (9%) and non-competitive (4%). The San Antonio Housing Authority (SAHA) is applying for the 9% HTC. The 9% HTC program has a single annual application period unlike the 4% HTC program which is available year round. In addition, the 9% HTC assigns points based on the type of resolution provided by a municipality (Resolution of Support versus a Resolution of No Objection), as opposed to the 4% HTC which require that a Resolution of No Objection be submitted to satisfy requirements of ?10.204(4)(C) of the TDHCA's Uniform Multifamily Rules. The 9% application will be considered by the TDHCA Governing Board on July 1, 2017.
On December 12, 2012, SAHA received $29.75 million award from the U.S. Department of Housing and Urban Development (HUD) for the Wheatley Choice Transformation Plan. City Council approved Ordinance 2012-06-21-0028R on June 21, 2012 in support of the Eastside ...
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