PILLAR: Vibrant
AGENDA DATE: Month 25, 2026
COUNCIL DISTRICT(S): 14
DEPARTMENT: Office of Government Affairs
PRIORITY: N/A
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SUBJECT
Title
Authorize the approval of the City Council of the City of Dallas, as the applicable elected representative as defined by Section 147(f)(2)(E) of the Internal Revenue Code of 1986, as amended (the “Code”), of the issuance of Multifamily Housing Revenue Bonds (Roseland Homes) Series 2026, by the Dallas Housing Authority (“DHA”) through its subsidiary, Housing Options, Inc., in one or more series of tax-exempt bonds in an amount not to exceed $69,152,737.00 (collectively, the “Bonds”); proceeds of the Bonds will be loaned to Roseland II, LP, a Texas limited partnership, or an affiliate of Roseland II, LP (together, the “Borrower”), to finance the rehabilitation and construction of an approximately 276-unit multi-family residential project to be known as Roseland Homes located near 3335 Munger Avenue, Dallas, Texas, 75204 (the “Project”) - Financing: No cost consideration to the City
*In alignment with Dallas Housing Policy 2033.
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BACKGROUND
Pursuant to Chapter 392 of the Texas Local Government Code, DHA may authorize the issuance of bonds in one or more series for a corporate purpose of the DHA, including the issuance of mortgage revenue bonds to finance Low-Income Housing Tax Credit (“LIHTC”) multifamily development projects. DHA, through its subsidiary, Housing Options, Inc. (together, the “Issuer”), intends to issue its Multifamily Housing Revenue Bonds (Roseland Homes) Series 2026, in one or more series, in an amount not to exceed $69,152,737.00; proceeds of the Bonds will be loaned to the Borrower to finance the rehabilitation and construction of the Project.
Since the Project is located within the city of Dallas (“City”), Section 147(f) of the Code requires that the proposed bond issue be approved by the City Council, as the applicable elected representative of the City. Approval of the City is for the sole purpose of satisfying the conditions and requirements of Section 147(f) of the Code and is not to be construed as an undertaking by the City. That is, the Bonds are not issued by, or on behalf of, the City.
Therefore, the Bonds shall not constitute a City liability, indebtedness, or obligation, nor shall any City assets be pledged to pay the Bonds. The City’s name will not appear on the Bonds. City staff have not reviewed or approved any documents related to the Bond issuance or reviewed any credit issues regarding the Project. The Bonds shall specifically provide that the Bonds are not a debt of the City, Dallas County, or the State of Texas, and that the City, Dallas County, and State of Texas are not liable with respect to the Bonds. The City is not responsible for paying the Bond obligations or fulfilling DHA’s or the Issuer’s authority under any of the documents related to the Developments.
The Tax Equity and Fiscal Responsibility Act (TEFRA) public hearing notice was published in the Dallas Morning News on February 6, 2026. On February 13, 2026, at 10:00 a.m., the public hearing was held with no outside participants in attendance, and thus no comments were provided. Under applicable federal income tax law, the TEFRA approval may only be valid for a one-year term.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
This item has no prior action.
FISCAL INFORMATION
No cost consideration to the City.
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