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Home My WebLink AboutResolution 4696-10-2016 A Resolution NO. 4696-10-2016 OF NO OBJECTION TO SUPPORT A HOUSING TAX CREDIT APPLICATION FOR THE DEVELOPMENT OF THE ALTON PARK APARTMENTS WHEREAS, the City of Fort Worth's 2016 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, FW Alton Park, LP, an affiliate of Fort Worth Housing Solutions and AMTEX Multi-Housing LLC, has proposed an approximately 195-unit multifamily rental housing development to be named the Alton Park Apartments to be located at the northeast corner of Azle Avenue and Broadview Drive in the City of Fort Worth, which will include units affordable to households with incomes at or below 60% of Area Median Income and Rental Assistance Demonstration units; WHEREAS, FW Alton Park, LP has advised the City that it intends to submit an application to the Texas Department of Housing and Community Affairs ("TDHCA") for 2016 Non-Competitive (4%) Housing Tax Credits to finance a portion of the costs of the development; and WHEREAS, the proposed development site of the Alton Park 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 from TDHCA after January 26, 2013. 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 Alton Park Apartments has been provided to the City Council by FW Alton Park, LP 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 FW Alton Park, LP 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. FbRTWbMvii 4. Pursuant to Section 11.3(c) of the Texas Administrative Code, the City Council acknowledges that the proposed development site of the Alton Park 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 from the Texas Department of Housing and Community Affairs after January 26, 2013. 5. After due consideration of the information provided by FW Alton Park, LP and any public comment on the proposed development,the City Council does not object to the application of FW Alton Park, LP 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 Alton Park Apartments. Adopted this 25`h day of October, 2016. 4a.�a 'UAn foRr 4 Qo ATTEST: WO I/ZBy: _a42t�= - I IX0 Mary J. Kayser, City Sec ry ORT WO T FW Alton Park, LP Proposed Alton Park Apartments - Council District 2 e 17�, » Y w_ _ f \\ fig* Pragased Site _ s } �' \ 199 26) 1 j� f B1 �l O 1 f 1199 121 183 n - ' > )28 3 Ox ' -• $ j � !�� " 1' �. 183 . ff EE M q `EST REI L .;c:, �� HEIR,°MS W '-=�: �qLL •.,�� h << ,�� ., , . "`° �• -' � a��, S Y � �,,, gyp/ NS EARY U tR _ Legend p—s JOSH'iJA ti C � Q ®Alton_Park_Apartments r ' .! I "1 ® EXISTING PARK_BOUNDARIES 0 0 0425 085� 1 1) 7-� - 0 0 0428 085 0.17 0.255 0,3 � _�WA?L' DELL• r City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 10/25/2016 - Resolution No. 4656-10-2016 DATE: Tuesday, October 25, 2016 REFERENCE NO.: G-18868 LOG NAME: 19RESOLUTION OF NO OBJECTION ALTON PARK APARTMENTS SUBJECT: Conduct a Public Hearing on the Application by FW Alton Park, LP, to the Texas Department of Housing and Community Affairs for Non-Competitive Housing Tax Credits for the Development of the Alton Park Apartments to be Located at the Northeast Corner of Azle Avenue and Broadview Drive 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 2) RECOMMENDATION: It is recommended that the City Council: 1. Conduct a public hearing to allow citizen comment on the application of FW Alton Park, LP, to the Texas Department of Housing and Community Affairs for 2016 Non-Competitive (4%) Housing Tax Credits for the proposed development of the Alton Park Apartments to be located at the northeast corner of Azle Avenue and Broadview Drive; and 2. Adopt the attached Resolution of No Objection to the application by FW Alton Park, LP, to the Texas Department of Housing and Community Affairs for 2016 Non-Competitive (4%) Housing Tax Credits for the development of the Alton Park Apartments which also acknowledges that the One Year, Three Mile Rule applies to the proposed development.. DISCUSSION: FW Alton Park, LP, an affiliate of Fort Worth Housing Solutions and AMTEX Multi-Housing LLC, is applying to the Texas Department of Housing and Community Affairs (TDHCA) for 2016 Non-Competitive (4%) Housing Tax Credits for the Alton Park Apartments, a multifamily development 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 Alton Park Apartments will have approximately 195 units. Of these units, approximately 19 will be Rental Assistance Demonstration units with the remainder being affordable to households with incomes at or below 60 percent of area median income. The proposed development will have one, two, and three bedroom units with amenities including a clubhouse, pool, business center, fitness room and an activity center. 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 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. Logname: 19RESOLLJTION OF NO OBJECTION ALTON PARK APARTMENTS Page I of 2 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 Alton Park 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 "C" - Medium Density Multifamily. This development is located in COUNCIL DISTRICT 2, Mapsco 47S and 47W. This M&C does not request approval of a contract with a business entity. FISCAL INFORMATION / CERTIFICATION: The Director of Finance certifies that approval of the above recommendations will have no material effect of 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 Chaisson (6342) Logname: 19RESOLUTTON OF NO OBJECTION ALTON PARK APARTMENTS Page 2 of 2