The Texas Department of Housing and Community Affairs (TDHCA) administers the State of Texas’ Housing Tax Credit Program (HTC), which is one of the primary means of directing private capital toward the development and preservation of affordable rental housing for low-income households. There are two types of housing tax credits: competitive (9%) and non-competitive (4%). Non-competitive (4%) applications are accepted year round, while competitive (9%) applications are submitted at the same time, once a year.
The City Council approved the scoring criteria that is used to evaluate applications supporting a proposed affordable residential development project that intends to request funding from the Texas HTC. The scoring criteria includes a set of five threshold questions and five secondary consideration factors with total scoring of 100 points. To receive a Resolution of No Objection, an applicant must meet Threshold Question # 1 and at least two (2) of the remaining threshold questions and receive an average score of at least 65. To receive a Resolution of Support, an applicant must meet Threshold Question # 1 and at least three (3) of the remaining questions and receive an average score of at least 75 or higher.
An application for a development that intends to request 9% housing tax credits has been submitted for the proposed Juniper Apartments development. This proposed development includes approximately 164 units on 6.818 acres, at approximately 6512 Jupiter Road, at the corner with Los Rios Blvd. Income restricted units, set aside for households at or below 60% of the Area Median Income (AMI), make up 79.27% of the proposed development, while the remaining 20.73% of the units will not have income restrictions.
At their meeting on January 20th, the Community Relations Commission (CRC) reviewed the application and determined it has satisfied four of the threshold questions with an average scoring of 83.75 points in the secondary consideration factors making the development eligible for a recommendation of Resolution of Support. The proposed development is not located within the City’s Concerted Revitalization Plan (CRP) area.
If this Resolution of Support is approved, the resolution will be included with the developer’s application submitted to the TDHCA. This resolution makes no finding regarding either the suitability of the proposed development site or compliance with the city’s development regulations. Furthermore, approval of this resolution will not be construed as a development permit or approval.