STRATEGIC PRIORITY: Housing & Homelessness Solutions
AGENDA DATE: February 14, 2024
COUNCIL DISTRICT(S): 11
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 13695 Goldmark Drive Owner, LP, an affiliate of Waterford at Goldmark, LP (Applicant) to the Texas Department of Housing and Community Affairs (TDHCA) for 4% Non-Competitive Low Income Housing Tax Credits (4% Housing Tax Credits) for Waterford at Goldmark located at 13695 Goldmark Drive, Dallas Texas 75228; 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 Waterford at Goldmark - Financing: No cost consideration to the City
Body
BACKGROUND
The Applicant is Waterford at Goldmark, LP, and its affiliate (Applicant), a 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 2023 4% Non-Competitive Housing Tax Credits (4% Housing Tax Credits). The 4% Housing Tax Credits will be used for the development of Waterford at Goldmark, a 220-unit senior multi-family complex located at 13695 Goldmark Drive, Dallas, TX 75228 (Property). A purchase and sale agreement for the Property has been executed between the current owner of the Property and 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 comment on the proposed development. Once a resolution is adopted and submitted to TDHCA, it cannot be changed or withdrawn.
When formed, 13695 Goldmark Drive, LP, a Texas limite...
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