STRATEGIC PRIORITY: Housing & Homelessness Solutions
AGENDA DATE: February 26, 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 Palladium Buckner Station, Ltd., an affiliate of Palladium USA, Inc. (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 Palladium Buckner Station, a 304-unit multifamily residential rental development for persons of low and moderate income to be located at 8008 Elam Road, Dallas, Texas 75217 (Property); and at the close of the public hearing, authorize a Resolution of No Objection for Applicant, related to its application to TDHCA for the development of Palladium Buckner Station - Financing: No cost consideration to the City
Body
BACKGROUND
Palladium Buckner Station, Ltd., a Texas limited partnership (Applicant), submitted an application to the city of Dallas (City) for a Resolution of No Objection (RONO) for its application to TDHCA for 2025 4% Non-Competitive Housing Tax Credits (4% Housing Tax Credits). The 4% Housing Tax Credits will be used for the development of Palladium Buckner Terrace, a 304-unit multifamily complex (Project) located at 8008 Elam Road, Dallas, TX 75217 (Property). A purchase and sale agreement for the Property has been executed between the current owner of the Property and an affiliate of the Applicant. TDHCA requires 4% Housing Tax Credit applicants to provide a RONO 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 with...
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