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File #: 21-1360    Version: 1 Name:
Type: CONSENT AGENDA Status: Approved
File created: 7/20/2021 In control: Department of Housing & Neighborhood Revitalization
On agenda: 10/13/2021 Final action:
Title: Authorize (1) a conditional grant agreement with Dallas City Homes, Inc. and/or its affiliates for the purchase and installation of solar panels for the multifamily development to be located at 3115 Topeka Avenue, Dallas, Texas 75212 in the amount of $300,000.00; and (2) a HOME Investment Partnership loan agreement in an amount not to exceed $2,085,504.00 for the construction of affordable housing for the new Construction and Substantial Rehabilitation Program - Not to exceed $2,385,504.00 - Financing: HOME Investment Partnerships Grant Fund ($2,085,504.00) and General Fund ($300,000.00)
Indexes: 6
Attachments: 1. Map, 2. Resolution
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: October 13, 2021
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Housing & Neighborhood Revitalization
EXECUTIVE: Dr. Eric A. Johnson
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SUBJECT

Title
Authorize (1) a conditional grant agreement with Dallas City Homes, Inc. and/or its affiliates for the purchase and installation of solar panels for the multifamily development to be located at 3115 Topeka Avenue, Dallas, Texas 75212 in the amount of $300,000.00; and (2) a HOME Investment Partnership loan agreement in an amount not to exceed $2,085,504.00 for the construction of affordable housing for the new Construction and Substantial Rehabilitation Program - Not to exceed $2,385,504.00 - Financing: HOME Investment Partnerships Grant Fund ($2,085,504.00) and General Fund ($300,000.00)

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BACKGROUND

The Department of Housing and Neighborhood Revitalization (Housing) administers programs to seek to appropriately incentivize private investment for the development of quality, sustainable housing that is affordable to the residents of the City. Specifically, Housing administers the New Construction and Substantial Rehabilitation Program which-where necessary-seeks to provide financial assistance to new developments or substantially rehabilitate existing developments. All projects seeking financial assistance are required to submit a Notice of Intent to apply for financial assistance through the Notice of Funding Availability (NOFA) to develop affordable homeownership and rental housing. As outlined in the NOFA, multiple sources of funding are available, however, proposed projects must meet specific thresholds to qualify for the use of a specific funding source.

At minimum, each proposed project must be composed of at least five affordable units and must achieve a fundable score as outlined in the NOFA solicitation.

On November 6, 2020, Dallas City Homes, Inc. (Dallas...

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