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Home My WebLink AboutResolution 4579-01-2016 A Resolution NO. 4579-01-2016 OF NO OBJECTION TO SUPPORT A HOUSING TAX CREDIT APPLICATION FOR THE BROADMOOR AT WESTERN HILLS APARTMENTS WHEREAS, the City of Fort Worth's 2015 Comprehensive Plan is supportive of the preservation, improvement, and development of quality, affordable, accessible rental and ownership housing; WHEREAS, the City of Fort Worth's 2013-2018 Consolidated Plan makes the development of quality, affordable, accessible rental housing units for the City's low income residents a high priority; WHEREAS, The Broadmoor at Western Hills Ltd. has proposed an approximately 324-unit mixed income multifamily rental housing development to be named the Broadmoor at Western Hills Apartments to be located in the 2800 -2900 blocks of Broadmoor Drive near Calmont Avenue in the City of Fort Worth, which will include units affordable to households with incomes at or below 60% of Area Median Income and market rate units; WHEREAS, the proposed development site of the Broadmoor at Western Hills Apartments is located one linear mile or less from another development which serves the same type of households and which received an allocation of Housing Tax Credits after January 26, 2013; and WHEREAS, The Broadmoor at Western Hills Ltd. has advised the City that it intends to submit an application to the Texas Department of Housing and Community Affairs for 2016 Non-Competitive (4%) Housing Tax Credits to finance a portion of the costs of the development. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS, THAT: 1. Notice of intent to file an application for Non-Competitive (4%) Housing Tax Credits for the development of the Broadmoor at Western Hills Apartments has been provided to the City Council by The Broadmoor at Western Hills Ltd. in accordance with Section 2306.67071(a) of the Texas Government Code. 2. The City Council has had sufficient opportunity to obtain a response from The Broadmoor at Western Hills Ltd. regarding any questions or concerns about the proposed development. 3. The City Council has held a hearing for the purpose of receiving public comment on the proposed development in accordance with Section 2306.67071(b) of the Texas Government Code. ORT WORT 4. Pursuant to Section 11.3(c) of the Texas Administrative Code, the City Council acknowledges that the proposed development site of the Broadmoor at Western Hills Apartments is located one linear mile or less from another development which serves the same type of households and which received an allocation of Housing Tax Credits after January 26, 2013. 5. After due consideration of the information provided by The Broadmoor at Western Hills Ltd. and any public comment on the proposed development, the City Council does not object to the application of The Broadmoor at Western Hills Ltd. to the Texas Department of Housing and Community Affairs for 2016 Non-Competitive (4%) Housing Tax Credits for the purpose of the development of the Broadmoor at Western Hills Apartments. Adopted this 26th day of January, 2016. i XY * a0 S ATTEST: 000y70* 41 By. Mary J. 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Approved on 1126/2016 - Resolution"No. 4579-01-2016 DATE: Tuesday, January 26, 2016 REFERENCE NO.: G-18655 LOG NAME: 19BROADMOOREAPARTMENTSRESOLUTION SUBJECT: Conduct a Public Hearing on the Application by The Broadmoor at Western Hills Ltd., to the Texas Department of Housing and Community Affairs for Non-Competitive Housing Tax Credits for the Development of the Broadmoor at Western Hills Apartments to be Located in the 2800 - 2900 Blocks of Broadmoor Drive near Calmont Avenue and Adopt Resolution of No Objection to the Application Which Acknowledges that the One Mile, Three Year Rule Applies to the Proposed Development (COUNCIL DISTRICT 3) RECOMMENDATION: It is recommended that the City Council: 1. Conduct a public hearing to allow citizen comment on the application of The Broadmoor at Western Hills Ltd., to the Texas Department of Housing and Community Affairs for 2016 Non-Competitive (4%) Housing Tax Credits for the proposed development of the Broadmoor at Western Hills Apartments, a mixed income multi-family development to be located in the 2800 - 2900 blocks of Broadmoor Drive near Calmont Avenue; and 2. Adopt the attached Resolution of No Objection to the application by The Broadmoor at Western Hills Ltd., to the Texas Department of Housing and Community Affairs for 2016 Non-Competitive (4%) Housing Tax Credits for the development of the Broadmoor at Western Hills Apartments which also acknowledges that the One Year, Three Mile Rule applies to the proposed development. DISCUSSION: The Broadmoor at Western Hills Ltd., an affiliate of NRP Group, LLC (NRP), is applying to the Texas Department of Housing and Community Affairs (TDHCA) for 2016 Non-Competitive (4%) Housing Tax Credits for the Broadmoor at Western Hills Apartments, a mixed income multi-family development to be located in the 2800 -2900 blocks of Broadmoor Drive near Calmont Avenue and has requested support from the City of Fort Worth. TDHCA requires Housing Tax Credit applicants to 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. The Broadmoor at Western Hills Apartments will have approximately 324 units, of which a negotiated number will be market rate units with the remainder to be affordable to households with incomes at or below 60 percent of Area Median Income. The proposed development will have one, two, three, and four bedroom units. Property amenities will include a gym, swimming pool, business center, green space with picnic tables, remote control gate access and energy efficient appliances. The site of the proposed development is located within one linear mile of another development serving the same type of households which received an allocation of Housing Tax Credits for New Construction after Logname: 19BROADMOOREAPARTMENTSRESOLUTION Page I of 2 January 26, 2013. TDHCA's One Mile, Three Year Rule requires the local jurisdiction to vote specifically to allow the construction of a new development located within one mile or less of a current development which received tax credits within the last three years as described above. At its next scheduled meeting on February 2, 2016, the Fort Worth Housing Finance Corporation (FWHFC) Board of Directors will consider partnering with NRP by becoming the general partner of The Broadmoor at Western Hills Ltd., the entity that will construct, own and manage the Broadmoor at Western Hills Apartments. In addition to becoming the general partner, the FWHFC will consider serving as the general contractor and owning the land. Following the close of the public hearing, Staff requests that the City Council consider the attached Resolution of No Objection to support the application for 2016 Non-Competitive (4%) Housing Tax Credits for the development of the Broadmoor at Western Hills Apartments. The development could assist the City in fulfilling its goals under its Consolidated Plan and Comprehensive Plan by supporting economic development and providing quality, accessible, affordable housing for low to moderate income residents. The site for the proposed development is zoned "PD/C"for Medium Density Multi-Family. This development is located in COUNCIL DISTRICT 3, Mapsco 73L. This M&C does not request approval of a contract with a business entity. FISCAL INFORMATION /CERTIFICATION: The Financial Management Services Director certifies that this action will have no material effect on the Fiscal Year 2016 Budget. FUND IDENTIFIERS (FIDs): TO Fund Department ccoun Project Program ctivity Budget Reference # moun ID ID Year (Chartfield 2) FROM Fund Department ccoun Project Program ctivity Budget Reference # moun ID ID Year (Chartfield 2) CERTIFICATIONS: Submitted for City Manager's Office by: Fernando Costa (6122) Originating Department Head: Aubrey Thagard (8187) Additional Information Contact: Avis F. Chaisson (6342) Logname: 19BROADMOOREAPARTMENTSRESOLUTION Page 2 of 2