STRATEGIC PRIORITY: Housing & Homelessness Solutions
AGENDA DATE: January 22, 2025
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Housing and Community Development
EXECUTIVE: Robin Bentley
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SUBJECT
Title
A public hearing to receive comments regarding an application by LIH Paradise Gardens Preservation, LP, an affiliate of LEDG Capital, LLC (collectively referred to as Applicant) to the Texas Department of Housing and Community Affairs (TDHCA) for 4% Non-Competitive Low Income Housing Tax Credits (4% Housing Tax Credits) for Paradise Gardens located at 1500 North Garrett Avenue, Dallas, Texas 75206 (Project); and, at the close of the public hearing, authorize a Resolution of No Objection for Applicant, related to its application to TDHCA for the redevelopment of Paradise Gardens - Financing: No cost consideration to the City
Body
BACKGROUND
LIH Paradise Gardens Preservation, LP, a Texas limited partnership, submitted an application to the City for a Resolution of No Objection for its application to TDHCA for 2024 4% Non-Competitive Housing Tax Credits (4% Housing Tax Credits). The 4% Housing Tax Credits will be used for the redevelopment of Paradise Gardens, a 113-unit multifamily complex located at 1500 North Garrett Avenue, Dallas, TX 75206 (Project). TDHCA requires 4% Housing Tax Credit applicants to provide a Resolution of No Objection from the governing body of the jurisdiction in which the proposed development will be sited. As part of these TDHCA requirements, the governing body must also conduct a public hearing for citizens to provide comment on the proposed development. Once a resolution is adopted and submitted to TDHCA, it cannot be changed or withdrawn.
The Project is located one linear mile or less from a development that serves the same type of household Target Population as the proposed Project and has received an allocation of Low-Income Housing Tax Credits (or privat...
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