STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: December 8, 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 Rosemont at Ash Creek Apartments, LLC, 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 acquisition and renovation of the Rosemont at Ash Creek Apartments located at 2605 John West Road, Dallas, Texas 75228; and at the close of the public hearing adopt a Resolution of No Objection for Applicant, related to its application to TDHCA for the acquisition and renovation of the Ash Creek Apartments, an existing multifamily development ("Development"), and 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 Shiloh Village Apartments (a recent 4% housing tax credit project located at 8702 Shiloh Road), and is therefore subject to the One Mile Three Year Rule - Financing: No cost consideration to the City
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BACKGROUND
Rosemont at Ash Creek Apartments, LLC (Applicant), to be formed Texas limited partnership, submitted a Request for Resolution application to the City for a Resolution of No Objection for its application to TDHCA for 2021 4% Non-Competitive Housing Tax Credits (4% Housing Tax Credits). The 4% Housing Tax Credits will be used for the acquisition and renovation of the Ash Creek Apartments, an existing 280-unit affordable multifamily complex located at 2605 John West Road, Dallas, TX 75228 (Property). A purchase and sale agreement for the Property has been executed between the current owner ...
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