STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: May 27, 2020
COUNCIL DISTRICT(S):|910|DEPARTMENT: Office of Economic Development
EXECUTIVE: Dr. Eric A. Johnson
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SUBJECT
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A public hearing to receive comments regarding an application by Gateway Oak Cliff, LP, or its affiliate to the Texas Department of Housing and Community Affairs (TDHCA) for 4% Non-Competitive Low Income Housing Tax Credits for the Gateway Oak Cliff located at 400 South Beckley Avenue; and, at the close of the public hearing adopt a Resolution of No Objection for Gateway Oak Cliff, LP, or its affiliate, related to its application to TDHCA for the development of the Gateway Oak Cliff - Financing: No cost consideration to the City
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BACKGROUND
Gateway Oak Cliff, LP (Applicant) submitted a Request for Resolution (RFA) application to the City for a Resolution of No Objection for its application to TDHCA for 2020 4% Non-Competitive Housing Tax Credits (HTC) (4% HTCs). The 4% HTC will be used for the development of the Gateway Oak Cliff, a 230-unit mixed-income multifamily complex to be located at 400 South Beckley Avenue, Dallas, Texas 75203 (Property). A 99-year option to ground lease the Property has been executed between Dallas County, the current owner of the property, and an affiliate of the Applicant. TDHCA requires 4% HTC applicants 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 Once a resolution is adopted and submitted to TDHCA, it cannot be changed or withdrawn.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 Applicant originally submitted an RFA application for a Resolution of Support and di minimis funding from the City for its application for 9% HTC from TDHCA. On February 12, 2020, Council authoriz...
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