STRATEGIC PRIORITY: Housing & Homelessness Solutions
AGENDA DATE: February 14, 2024
COUNCIL DISTRICT(S): 13
DEPARTMENT: Department of Housing & Neighborhood Revitalization
EXECUTIVE: Majed Al-Ghafry
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SUBJECT
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Authorize (1) the adoption of a Resolution of Support for Generation Housing Partners, LLC and/or its affiliate(s) (Applicant), related to its application to the Texas Department of Housing and Community Affairs (TDHCA) for 9% Housing Tax Credits for the development The Heights at Park Lane to be located at 9310 North Central Expressway, Dallas, Texas 75231; and (2) an agreement with the Applicant for a line of credit in the amount of $500.00 for the proposed multifamily development - Not to exceed $500.00 - Financing: General Fund
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BACKGROUND
Generation Housing Partners, LLC ("GHP" or the "Applicant") submitted a pre-application to the Texas Department of Housing and Community Affairs (TDHCA) for 2024 9% Low Income Competitive Housing Tax Credits (9% HTC) for the development of The Heights at Park Lane, a ground-up development of a 162-unit mixed-income multifamily complex located at 9310 North Central Expressway, Dallas, Texas 75231 (Project). The Applicant has executed a purchase agreement with Fellowship Bible Church Dallas, the current property owner. The Applicant may transfer the purchase contract to an affiliate.
In the administration of its 9% HTC Program, TDHCA awards application points for a resolution from a governing body of a local municipality on the following basis:
Within a municipality, the application will receive:
? 17 points for a resolution from the governing body of that municipality expressly setting forth that the municipality supports (Resolution of Support) the application or development; or
? 14 points for a resolution from the governing body of that municipality expressly setting forth that the municipality has no objection (Resolution of No Ob...
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