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File #: 20-5381   
Type: Resolution
In control: City Council A Session
On agenda: 9/17/2020
Posting Language: Resolution of No Objection for the Alamo Community Group’s application to the Texas Department of Housing and Community Affairs Non-Competitive 4% Housing Tax Credits program for the construction of the Cattleman’s Square Lofts, a 140 unit affordable multi-family rental housing development, located at 811 W. Houston Street in Council District 5; allowing the construction of the development to be located within one linear mile or less from another development; acknowledging the development will result in more than 20% of total housing units in the proposed census tract being supported by housing tax credits; and acknowledging the high poverty rate in the census tract the proposed development will be located in and authorizing the development to move forward. [Lori Houston, Assistant City Manager; Verónica R. Soto, FAICP, Director, Neighborhood and Housing Services]
Attachments: 1. Resolution 2020-09-17-0044R
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DEPARTMENT: Neighborhood & Housing Services Department

DEPARTMENT HEAD: Ver?nica R. Soto, FAICP, Director

COUNCIL DISTRICTS IMPACTED: Council District 5

SUBJECT:

Adopting a Resolution of No Objection for the Alamo Community Group's application to the Texas Department of Housing and Community Affairs for the Non-Competitive 4% Housing Tax Credits program.

SUMMARY:

Alamo Community Group is seeking a Resolution of No Objection for its application to the Texas Department of Housing and Community Affairs for the Non-Competitive 4% Housing Tax Credits program for the development of the Cattleman's Square Lofts, a 140-unit affordable multi-family rental housing development located at 811 W. Houston Street in Council District 5.

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. Housing Tax Credits 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.

The TDHCA administers two HTC programs: a Competitive 9% and Non-Competitive 4%. This application is for the Non-Competitive 4% HTC program which is available year round unlike the Competitive 9% HTC program which has a single annual application period. The Competitive 9% HTC program assigns points based on the type of resolution provided by a municipality (Resolution of Support versus a Resolution of No Objection), but the Non-Competitive 4% Housing Tax Credit only require that a Resolution of No Objection be submitted to satisfy requirements of ?11.204(4)(C) of the TDHCA's Uniform Multifamily Rules.

In order to qualify to receive a Resolution of No Objection, the application must earn at least 60 out of 100 points from the City's scoring criteria outlined in the...

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