STRATEGIC PRIORITY: Housing & Homelessness Solutions
AGENDA DATE: February 12, 2025
COUNCIL DISTRICT(S): 11
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 St. Margaret, Inc. and/or its affiliate(s) (Applicant), related to its application to the Texas Department of Housing and Community Affairs for 2025 9% Housing Tax Credits for the development of The Broderick to be located at 12800 Coit Road, Dallas, Texas 75251; 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 Broderick, a 108-unit ground-up mixed-income multifamily community for seniors ages 55 and above. St. Jude Inc., an affiliate of the Applicant, has executed an exclusive option agreement with the Applicant, the current property owner.
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.
* 1 point for a commitment of development funding by a local political subdivision in the form of a loan, grant, reduced fees, or contribution of value that...
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