STRATEGIC PRIORITY: Housing & Homelessness Solutions
AGENDA DATE: February 12, 2025
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Housing and Community Development
EXECUTIVE: Robin Bentley
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SUBJECT
Title
Authorize (1) the adoption of a Resolution of Support for Express Development, Inc. and/or its affiliate(s) (Applicant), related to its application to the Texas Department of Housing and Community Affairs for 9% Housing Tax Credits for the development The James at Wheatland to be located at 7100 West Wheatland Road, Dallas, Texas 75249 (Project); and (2) an agreement with the Applicant for a line of credit in the amount of $500.00 for the proposed multifamily development - Not to exceed $500.00 - Financing: General Fund
Body
BACKGROUND
The Applicant submitted a pre-application to the Texas Department of Housing and Community Affairs (TDHCA) for 2025 9% Low Income Competitive Housing Tax Credits (9% HTC) for the development of The James at Wheatland, a ground-up development of a 90-unit mixed-income multifamily complex located at 7100 West Wheatland Road, Dallas, Texas 75249. The Applicant has executed a purchase agreement with TA Properties II, Ltd., the current property owner. The Applicant may transfer the purchase contract to an affiliate.
In the administration of its 9% HTC Program, TDHCA awards application points for a resolution from a governing body of a local municipality on the following basis:
Within a municipality, the application will receive:
? 17 points for a resolution from the governing body of that municipality expressly setting forth that the municipality supports (Resolution of Support) the application or development; or
* 14 points for a resolution from the governing body of that municipality expressly setting forth that the municipality has no objection (Resolution of No Objection) to the application or development; and
* 1 point for a commitment of development...
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