STRATEGIC PRIORITY: Housing & Homelessness Solutions
AGENDA DATE: February 14, 2024
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Housing & Neighborhood Revitalization
EXECUTIVE: Majed Al-Ghafry
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SUBJECT
Title
A public hearing to receive comments regarding an application by TX Illinois 2024, Ltd. an affiliate of Generation Housing Partners, LLC (Applicant) to the Texas Department of Housing and Community Affairs (TDHCA) for 4% Non-Competitive Low Income Housing Tax Credits for HiLine Illinois located at 4710 West Illinois Avenue, Dallas, TX 75211; and, at the close of the public hearing, authorize a Resolution of No Objection for Applicant, related to its application to TDHCA for the development of HiLine Illinois - Financing: No cost consideration to the City
Body
BACKGROUND
TX Illinois 2024, Ltd., or its affiliate (Applicant) submitted a Request for Resolution application to the City for a Resolution of No Objection for its application to TDHCA for 2024 4% Non-Competitive Housing Tax Credits (4% Housing Tax Credits). The 4% Housing Tax Credits will be used for the development of HiLine Illinois, a 200 unit multi-family complex, located at 4710 West Illinois Avenue, Dallas, TX 75211 (Property). A purchase and sale agreement for the Property has been executed between the current owner of the Property and an affiliate of the Applicant. TDHCA requires 4% Housing Tax Credit 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 comments on the proposed development. Once a resolution is adopted and submitted to TDHCA, it cannot be changed or withdrawn.
When formed, TX Illinois 2024, Ltd., a Texas limited partnership the general partner of which is anticipated to be TX Illinois 2024 GP, LLC,...
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