HomeMy WebLinkAboutResolution 4718-12-2016 A Resolution
NO. 4718-12-2016
OF NO OBJECTION TO SUPPORT A HOUSING TAX CREDIT APPLICATION FOR THE
DEVELOPMENT OF THE CAMPUS 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 Campus Apartments LP has proposed a multifamily rental housing
development to be named the Campus Apartments to be located at 4651 Campus Drive, which will
include Rental Assistance Demonstration units and units affordable to households with incomes at or
below 60% of Area Median Income ; and
WHEREAS, FW Campus Apartments LP 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 Campus Apartments has been provided to the City Council by FW
Campus Apartments 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 Campus
Apartments 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.
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4. After due consideration of the information provided by FW Campus Apartments LP and any
public comment on the proposed development, the City Council does not object to the
application of FW Campus Apartments 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 Campus Apartments.
Adopted this 6th day of December, 2016. �,"o�F°o°Rr 4
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FW Campus Apartments LP
Proposed Campus Apartments - Council District 8
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 12/6/2016 - Resolution No. 4718-12-2016
DATE: Tuesday, December 6, 2016 REFERENCE NO.: G-18897
LOG NAME: 19RESOLUTION OF NO OBJECTION CAMPUS APARTMENTS
SUBJECT:
Conduct a Public Hearing on the Application by FW Campus Apartments LP, to the Texas Department of
Housing and Community Affairs for Non-Competitive Housing Tax Credits for the Development of the
Campus Apartments to be Located at 4651 Campus Drive and Adopt Resolution of No Objection to the
Application (COUNCIL DISTRICT 8)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public hearing to allow citizen comment on the application of FW Campus Apartments LP, to
the Texas Department of Housing and Community Affairs for 2016 Non-Competitive (4%) Housing Tax
Credits for the proposed development of the Campus Apartments to be located at 4651 Campus Drive;
and
2. Adopt the attached Resolution of No Objection to the application by FW Campus Apartments LP, to the
Texas Department of Housing and Community Affairs for 2016 Non-Competitive (4%) Housing Tax
Credits for the development of the Campus Apartments.
DISCUSSION:
FW Campus Apartments 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 Campus 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 Campus Apartments will have approximately 220 units. Of these units, approximately 21 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.
Based on the City's current adopted policy for Non-Competitive (4%) Housing Tax Credits, the partnership
between Fort Worth Housing Solutions and AMTEX Multi-Housing LLC is a public-private partnership and
is eligible for consideration for a Resolution of No Objection. Therefore, following the close of the public
hearing, Staff requests that the City Council consider adopting the attached Resolution of No Objection to
support the application for 2016 Non-Competitive (4%) Housing Tax Credits for the development of the
Campus 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,
Logname: 19RESOLUTION OF NO OBJECTION CAMPUS APARTMENTS Page 1 of 2
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 8, Mapsco 91 M.
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 2017 Budget. While no current year impact is anticipated from this action, any effect on
expenditures and revenues will be budgeted in future fiscal years and will be included in the long term
forecast.
FUND IDENTIFIERS (FIDs):
TO
Fund Department cCountl 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: 19RESOLUTION OF NO OBJECTION CAMPUS APARTMENTS Page 2 of 2