city of San Antonio


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File #: 21-1242   
Type: Staff Briefing - Without Ordinance
In control: Planning and Land Development Committee
On agenda: 2/8/2021
Posting Language: Resolutions of Support for multifamily rental housing development projects seeking 2021 Competitive 9% Housing Tax Credits from the Texas Department of Housing and Community Affairs. [Lori Houston, Assistant City Manager; VerĂ³nica R. Soto, FAICP, Director, Neighborhood and Housing Services]
Attachments: 1. Map_2021 9% Housing Tax Credit Applicants, 2. Staff Presentation
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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DEPARTMENT: Neighborhood and Housing Services


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


COUNCIL DISTRICTS IMPACTED: City Wide


SUBJECT:

Resolutions of Support for multifamily rental housing development projects seeking 2021 Competitive 9% Housing Tax Credits (HTC) from the Texas Department of Housing and Community Affairs (TDHCA).


SUMMARY:

Consideration of eleven Resolutions of Support for multifamily rental housing development projects by respondents seeking 2021 Competitive 9% Housing Tax Credits (HTC) from the Texas Department of Housing and Community Affairs (TDHCA).

On November 30, 2020, the City issued a Request for Applications to developers seeking a Resolution of Support or No Objection for applications to the Texas Department of Housing and Community Affairs for the Competitive 9% Housing Tax Credit (HTC) Program per the Council approved policy. Fifteen applications were submitted by developers seeking a Resolution of Support. Two applicants requested a waiver from the TDHCAs' One Mile-Three Year Rule. One applicant is requesting a waiver for the proposed development being located in a census tract with a poverty rate of 40% or higher. Nine applicants identified themselves as contributing more than any other development to the concerted revitalization efforts of the municipality.

BACKGROUND INFORMATION:

The TDHCA Housing Tax Credit (HTC) Program allocates federal tax credits to developers to encourage the construction and rehabilitation of affordable multifamily housing. There are two types of Tax Credits: Competitive (9%) and Non-Competitive (4%). The Non-Competitive 4% HTC program is available year-round whereas the Competitive 9% HTC program has a single annual application period. The 9% Program is allocated through an annual competitive process in which projects are evaluated and scored according to the TDHCA's established criteria. An application will receive a certain number of points if it receives a Resolution of Supp...

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