DEPARTMENT: Neighborhood & Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto, AICP, Director
COUNCIL DISTRICTS IMPACTED: Council District 3
SUBJECT:
Adopting an Amended Resolution of No Objection for the Franklin Development Properties' application to the Texas Department of Housing and Community Affairs' Non-Competitive 4% Housing Tax Credits Program.
SUMMARY:
Amending Resolution of No Objection for an application to the Texas Department of Housing and Community Affairs' Non-Competitive 4% Housing Tax Credits Program for the development of Greenline North, a 292 unit multi-family rental housing development, located at 7402 S. New Braunfels in City Council District 3, previously approved by the City Council on December 12, 2019, to include the City's specific consent to the location of the Greenline North development in a census tract that has more than 20% Housing Tax Credit Units per total households as established by the 5-year American Community Survey as required by Chapter 10 of the Texas Administrative Code, Sections 11.3(e) and 11.4 (c)(1).
BACKGROUND INFORMATION:
Franklin Development Properties successfully responded to the City of San Antonio's request for proposal to construct an affordable/workforce housing development consistent with the voter-approved Neighborhood Improvements Bond Program in accordance with the City Council-approved Urban Renewal Plan and Chapter 374 Urban Renewal Stature. Franklin Development Properties' development will provide new affordable housing in Council District 3 while meeting the green building objectives of the SA Tomorrow Sustainability Plan.
The Texas Department of Housing and Community Affairs' (TDHCA) Housing Tax Credit 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. Housing Tax Credits are awarded to eligible participants to offset a portion of their fe...
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