AGENDA CAPTION:
Title
Receive a Staff presentation and hold a Public Hearing to receive comments for or against Resolution 2022-166R, providing no objection to the submission of an application for Low Income Housing Tax Credits (LIHTC) to the Texas Department of Housing and Community Affairs for the proposed 1800 apartments multifamily housing project located on the south side of Centerpoint Road approximately 1,900 feet east of IH-35, approving findings related to the application, imposing conditions for such non objection; authorizing the City Manager, or her designee, to execute said agreement and to submit and execute documents related to the application; and declaring an effective date; and consider approval of Resolution 2022-166R.
Body
Meeting date: August 2, 2022
Department: Planning and Development Services
Amount & Source of Funding
Funds Required: n/a
Account Number: n/a
Funds Available: n/a
Account Name: n/a
Fiscal Note:
Prior Council Action: n/a
City Council Strategic Initiative:
N/A
Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
☐ Economic Development - Choose an item.
☐ Environment & Resource Protection - Choose an item.
☐ Land Use - Choose an item.
☐ Neighborhoods & Housing - Choose an item.
☐ Parks, Public Spaces & Facilities - Choose an item.
☐ Transportation - Choose an item.
☐ Core Services
☒ Not Applicable
Master Plan: n/a
Background Information:
This is a new LIHTC request which is accompanied by a development agreement which will allow the construction of four-bedroom units, not permitted by Code.
November, 2021 - LIHTC Application Received
January, 2022 - Development Agreement Application Received
March 1, 2022 - Affordable Housing Policy Updated by City Council
March 23, 2022 - City Council authorized development agreement negotiation
March 29, 2022 - City Council Committee met to discuss the LIHTC & DA requests. The Committee indicated they would like the development to comply with the new policy.
June 8, 2022 - City Council Committee met to discuss the LIHTC & DA requests. The applicant indicated they are unable to meet the new policy criteria and wished to remain under the policy in place at the time of their application.
Council Committee, Board/Commission Action:
The Workforce Housing Council Committee recommended DENIAL of the request for a variety of reasons including: applicant’s inability to meet the updated Policy, the location in a food desert with no services currently available, as well as the lack of parkland in the area.
The Committee did not oppose the associated development agreement, however indicated the desire for the project to provide parkland instead of requesting a fee in lieu.
Alternatives:
n/a
Recommendation:
The City of San Marcos Low Income Housing Tax Credit Policy states that applications must meet at least 5 of the 8 criteria, including criteria #1, in order to receive a staff recommendation for a Resolution of No Objection.
Based on the criteria outlined in the original policy, the application met 5 of the 8 criteria, however the applicant does not meet 5 of the 8 criteria in the updated policy approved March, 2022.