STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: September 22, 2021
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Housing & Neighborhood Revitalization
EXECUTIVE: Dr. Eric A. Johnson
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SUBJECT
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A public hearing to receive comments regarding an application by LDG The Terrace at Southern Oaks, LP, or its affiliates (Applicant) to the Texas Department of Housing and Community Affairs (TDHCA) for 4% Non-Competitive Low Income Housing Tax Credits for The Terrace at Southern Oaks located at 3385 Southern Oaks Boulevard, Dallas, Texas 75216; and, at the close of the public hearing (1) adopt a Resolution of No Objection for Applicant, related to its application to TDHCA for the development of The Terrace at Southern Oaks, a multifamily development ("Development"), and (2) in accordance with 10 TAC ? 11.3(d) (the "Administrative Code") and the Qualified Allocation Plan ("QAP"), specifically allow the construction of the Development, as required by the Administrative Code, because the Development is within one linear mile or less of the Signature at Southern Oaks (a recent 4% housing tax credit project located at 3303 Southern Oaks Boulevard), and is therefore subject to the One Mile Three Year Rule; (3) pursuant to 10 TAC ?11.3(e) and ?11.4(c)(1) and the QAP, specifically acknowledge that the Development is located in a census tract that has more than 20% Housing Tax Credit Units per total households and the proposed Development is consistent with the City's obligation to affirmatively further fair housing; and (4) pursuant to 10 TAC ?11.101(a)(3) and the QAP, specifically acknowledge that the proposed Development is located in a census tract that has a poverty rate above 40% for individuals - Financing: No cost consideration to the City
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BACKGROUND
LDG The Terrace at Southern Oaks, LP (Applicant), a to be formed Texas limited partnership, submitted a Request for Res...
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