AGENDA CAPTION:
Title
Receive a Staff presentation and hold a Public Hearing to receive comments for or against Resolution 2024-44R, 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 Roers Multifamily Housing Project located on the south side of Old Bastrop Highway approximately 1,100 feet southwest of the intersection between Old Bastrop Highway and State Highway 123; 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 2024-44R.
Body
Meeting date: March 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: N/A
City Council Strategic Initiative: [Please select from the dropdown menu below]
N/A
N/A
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 - Diversified housing options to serve citizens with varying needs and interests
☐ Parks, Public Spaces & Facilities - Choose an item.
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☐ Core Services
☐ Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
Vision San Marcos - A River Runs Through Us
Background Information:
The site is located next to San Marcos High School and was annexed and zoned to CD-5 in 2023. The site is located within the “East Village” Intensity Zone in the 2013 Comprehensive Plan, which is an area envisaged as an “activity node centered around the intersection of Old Bastrop and Hwy 123, East Village will boast a mix of commercial, retail, and service-oriented activity. This area will offer a variety of residential options including single family homes, duplexes, townhomes, and small multifamily projects.”
At the March 1, 2022 meeting, the San Marcos City Council adopted the current LIHTC Policy. Under the policy, applications must meet fully at least 5 of the 8 criteria, including criteria #1, in order to receive a positive staff recommendation. Under the current policy, no exemption from taxes may be considered unless the project meets criteria 1a-1e.
The applicant has stated that they do not intend to request an exemption from taxes and so at this time staff considers 5 of the 8 LIHTC criteria met. Criteria 1 is considered fully met as the applicant on the basis that they are not requesting an exemption from local taxes. It should be noted that property tax exemptions are ultimately determined by the Appraisal District and the County Tax Assessor in accordance with Section 11.1825 of the Texas Tax Code and not the City of San Marcos.
Council Committee, Board/Commission Action:
On February 13th, 2024 this application was considered by the Workforce Housing Council Committee which is comprised of Councilmembers Garza, Gonzales, and Scott. The Committee voted unanimously to recommend approval of the request, with the understanding that the applicant would not be applying for property tax exemptions.
Alternatives:
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Recommendation:
Staff recommend approval of LIHTC-23-01 as presented.