AGENDA CAPTION:
Title
Hold a Public Hearing and consider approval of Resolution 2024-231R, amending Resolution No. 2024-90R, a Resolution of No Objection to the submission of an application for Low-Income Housing Tax Credits to the Texas Department of Housing and Community Affairs for the proposed Blanco Basin multifamily development, generally located north of the intersection between East McCarty Lane and the Union Pacific Railroad, by allowing changes to the proposed amenities list and to the unit income mix, among other possible amendments; and declaring an effective date.
Body
Meeting date: November 19, 2024
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: This is an amendment to previously approved Resolution of No Objection (RONO) for this site which was approved by City Council on May 21, 2024 (Res 2024-90R)
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Background Information:
A Resolution of No Objection for this project was previously approved by Council in May 2024 (Res 2024-90R). The applicant is requesting the following changes:
1. Removing “BBQ grills and picnic tables” from the amenities list and adding “Horseshoe pit; putting green; shuffleboard court; pool table; ping pong table; or similar.”
2. Adding a provision to allow a change in the proposed amenities list at the time of site permit.
3. Change the unit Income mix from 188 units (85% of all units) at 60% AMI or less to allow some units at 70% and 80% AMI, with the final unit mix to be determined by the applicant at a later time. The average rent and income for all units will average to 60% or less of the area median income. (The total amount of units provided at 30% AMI is not changing).
The applicant has not provided a copy of their draft application form which specifies the exact unit mix as it has not been finalized. The applicant has confirmed that they have elected to use income averaging on their application per Section 10.605 of the Texas Administrative Code. Under this rule, an applicant using income averaging “must disperse 20%, 30%, 40%, 50%, 60%, 70%, and 80% Unit designations across all Unit Types to the greatest extent feasible, and in a manner that does not violate fair housing laws.” TAC §10.605.(c)
Council Committee, Board/Commission Action:
Resolutions of No Objection are first discussed by the Workforce Housing Committee; at their October 2nd meeting the Committee members discussed the request, and chose not to make a recommendation on this proposed amendment due to the atypical nature of the request. The Committee directed staff to bring the request for consideration by the full City Council.
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Recommendation:
Staff considers 6 of the 8 criteria in the LIHTC Policy met and therefore is recommending approval of this request.