STRATEGIC PRIORITY: Housing & Homelessness Solutions
AGENDA DATE: February 14, 2024
COUNCIL DISTRICT(S): 10
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 for 9% Housing Tax Credits for the development Patriot Pointe at Markville to be located at 9222 Markville Dr., Dallas, Texas 75243; 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% Competitive Housing Tax Credits (9% HTC) for the development of Patriot Pointe at Markville, a ground-up development of a 165-unit mixed-income multifamily complex with a focus on veterans located at 9222 Markville Dr., Dallas, TX 75243 (Project). Generation Housing Partners, LLC has executed a purchase and sale agreement with Ink & Sons, LLC, 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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