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File #:
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24-3810
Version:
1
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Name:
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Type:
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BRIEFING MEMOS
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Status:
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Agenda Ready
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On agenda:
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12/10/2024
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Final action:
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Title:
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January 22, 2025 City Council Agenda Items related to Paradise Gardens, an affordable multifamily development to be located at 1500 North Garrett Avenue, Dallas, TX 75206 (Project), including: (1) a public hearing to receive comments regarding an application by LIH Paradise Gardens Preservation, LP, an affiliate of LEDG Capital, LLC (collectively, Applicant) to the Texas Department of Housing and Community Affairs (TDHCA) for 4% Non-Competitive Low Income Housing Tax Credits for the Project, and, at the close of the public hearing, authorize a Resolution of No Objection for Applicant's application to the TDHCA; and (2) authorize (i) the Dallas City Council to act as the applicable elected representative, as defined by Section 147(f)(2)(E) of the Internal Revenue Code of 1986, as amended, of the issuance of multifamily residential mortgage revenue bonds issued by the Dallas Housing Finance Corporation in one or more series of tax-exempt bonds in an amount not to exceed $18,000.00 (Bond...
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Attachments:
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1. Memorandum
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title
January 22, 2025 City Council Agenda Items related to Paradise Gardens, an affordable multifamily development to be located at 1500 North Garrett Avenue, Dallas, TX 75206 (Project), including: (1) a public hearing to receive comments regarding an application by LIH Paradise Gardens Preservation, LP, an affiliate of LEDG Capital, LLC (collectively, Applicant) to the Texas Department of Housing and Community Affairs (TDHCA) for 4% Non-Competitive Low Income Housing Tax Credits for the Project, and, at the close of the public hearing, authorize a Resolution of No Objection for Applicant’s application to the TDHCA; and (2) authorize (i) the Dallas City Council to act as the applicable elected representative, as defined by Section 147(f)(2)(E) of the Internal Revenue Code of 1986, as amended, of the issuance of multifamily residential mortgage revenue bonds issued by the Dallas Housing Finance Corporation in one or more series of tax-exempt bonds in an amount not to exceed $18,000.00 (Bonds); proceeds of the Bonds to be loaned to Applicant to finance a portion of the Project; and (ii) the approval of the application of the Texas Housing Finance Corporations Act, Chapter 394, Local Government Code, to the property on which the Project will be constructed and the use of proceeds of the Bonds to finance and construct the Project
[Jaclyn Schroeder, Administrator (I), Department of Housing & Community Development; Aaron Eaquinto, General Manager, Dallas Housing Finance Corporation]
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