Item 15: Low Income Housing Tax Credits (LIHTC) to the Texas Department of Housing and Community Affairs for Riverview Apartments

[COSM_Admin]

Receive a Staff presentation and hold a Public Hearing to receive comments for or against Resolution 2024-20R, providing support for the submission of an application for Low Income Housing Tax Credits (LIHTC) to the Texas Department of Housing and Community Affairs for Riverview Apartments located at 601 River Road, approving findings related to such application; providing authorizations for execution or submission of documents related to such application; and declaring an effective date; and consider approval of Resolution 2024-20R.

 

[JHughson]

Why does the resolution item #5 state the project meets 5 of the 8 options but all the other text states it only meets 4 plus one is neutral?
Why is #8 neutral instead of Met?
What was the committee's thoughts on the number of units for 30% below AMI, etc. section?

 

[COSM_Admin]

Response provided by Amanda Hernandez, Director of Planning & Development Services:
Why does the resolution item #5 state the project meets 5 of the 8 options but all the other text states it only meets 4 plus one is neutral? This is a typo, it should say 4 are met
Why is #8 neutral instead of Met? This is an existing complex applying for 9% tax credits, and we usually see new projects applying for 4% credits. The criteria are a little different at the state level and don’t directly align with our policy. The applicant is providing services which meet the requirements of their application with the state.
What was the committee's thoughts on the number of units for 30% below AMI, etc. section? This section is a subset of Criteria #1 (seeking exemption from local taxes). The applicant is not seeking an exemption, therefore the additional criteria were not analyzed or discussed.