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Home My WebLink AboutResolution 4754-02-2017 7.... ...... A Resolution NO. 4754-02-2017 SUPPORTING A HOUSING TAX CREDIT APPLICATION FOR VISTA PARK WEST AND COMMITMENT OF DEVEI-,OPMENT FUNDING WHEREAS, the City's 2016 Comprehensive Plan is supportive of the preservation, improvement, and development of quality atfbrdable accessible rental and ownership housing; WHEREAS, the City's 2013 2018 Consolidated Plan makes the development of quality at 'ordable accessible rental housing its for low inc orne residents of the City a high priority; WHEREAS, AM TE Vista Park Fund, LP, an affiliate of AX Multi-l-lousing, LLC, has proposed a development for affordable niultif.'ajnily rental housing naii.ned 'Vista Park West to be located at approximately 2001 Chapel. Creek.Boulevard in the City of Fort Worth; WHEREAS Ali 1µ°1e Vista Park. Fund, LP has advised the City that it intends to submit an application to the Texas Department of Housing and Community Aft irs ("'I'DfICA.") for 2017 Competitive (9%) llousingTax Credits for Vista Park West, a new complex cojasisting of approximately 150 units, of which at least ten percent (10%) of the total units will be dedicated for Rental Assistance Demonstration its and at least five percent(5%) of the total its will be market rate Waits; WHEREAS, TD11CA's 2017 Qualified Allocation Plan (",QAP") provides that an application for Housing Tax Credits may qualify for up to seventeen (17) points for a resolution of support from the goveming body of the jurisdiction in which the proposed development site is located; and WHEREAS, the CHAP also awards one (1) point for a committ-nent of development funding from the city in which the proposed development site is located. NOW, THEREFORE, BE IT RESOLVED BY THE CIT)( C.OUNCIL OF THE CITY OF FORT WORTH, TExAs: The City of Fort Worth, acting through its City Council, hereby confirins that it supports the application of AMEX Vista Park Fund, LP to the Texas Department of Housing and Community Affairs for 2017 Cornpetitive (9%) I-Jousing Tax Credits for the purpose of the development of Vista Park West to be located. at 2001 Chapel Creek, Boulevard (TDf1(,A Application No. 17134), and that this fomial action has been taken to put on record the opinion expressed by the City Council of the City of Fort Worth. FVORT 'f A-2� The City of Fort Worth, acting through its City C'ouncil, additionallyconfirnis that it will commit to fee waivers in an amount not exceed $2,500.00 to Am'rEX Vista Park Fund, LP conditioned upon receipt of Housing Tax Credits, The City Cowicil also finds that the waiver of such fees serves the public purpose of providing quality, accessible, affordable housing to low and moderate incorne households in accordance with the City's Coinprehensive i lan and Action Plan., and that adequate controls are in place through the City's Neighborhood Servces Department to carry out such public purpose. The City of Fort Worth, acting through. its City Council, further confirins, that the City has not first received any funding for this purpose from the applicant, affiliates of the applicant, consultant, generarl contractor or guarantor of the proposed development or any party associated in.any way with the applicant, AMTEX Vista Park Fund, LP Adopted this 21"day of Februarv, 2017. *Oar 1440 0,000000 $ 00 0 ATTEST: OAo 0 1 0 00A 0 0(JO 0=0 4L 0 0 % O'd By: 0 AY . ............................................................... ary , S r, 000, 00 AY i Secretary ?*X I ORT WOUJI Vista Park Fund, L Vista Park West - Council District 3 � / � 114, 28 � / r ,,, % ✓�r/ 170 114 r u r � r ;v l ,➢��' Iry r ?%N� Gf l�,r� rr� ��r 6.�iYi I ya �� rr r� 'Jrrj Hr, f ,:�� 81 ��' IU r �; r r/✓, 'r r, 1 ✓ r 1 l r ' n/' r �.. k8n....� �. 26 �4� ! f' Iii/ /rr!rr/ / � � � � /�i ��' v✓0� /��r�U^�� v!` �� '� .0 W_...- �r..,m 121 80 19926 183 Proposed Site 199 121 183;,.^� wn' i' �mr-u y ✓ �' e/%/ " `;y rI ,kyr 180 180 60 r r r 87� 303 183 60 377 87 r r/ i � �� '�/ fir � a ��✓�/�� r J° ✓r,„, h(�.�/�� .F, /✓' � �1 /r i/ � > /�i�v� � fr �;�i�s, ��i iii `� � ',� plri: f/ / ii l� f✓�/� auV i' rr/,./�r�/l�� ri ,. f �,rly yJ% � a r ✓�i, ��roriii/r��a�/i�F�xeDrrro�6w i � � ,,,, ✓ %��, ,, r �� , ✓ii ,i , ,,.Ir✓�,,1 y Ya �/, f �,,; „rf�/�l��,l 9 n rsY ��o�/'//„ ✓�ruynrax �r�rrrrrrr�oi ✓ » /, �,;, ��„r �fl frr/rwi�///Id91+f�, ✓✓/Jl%��»i o r;� � � � � r��o�pvropi�/ �l ” �✓rL (/� ��1Jilp�y�� rrI � � o�/r�,» � r, ,��bJ �� Y rl ": ,,,, , ! ra r ,,�i r , � 1� /,r, ✓ �l r 6 i irli�u@um �, .. iii r/✓/ ,. � � r 1 r��,WV �,� 'oi 1�� l�%l��J�� r /r r✓ �OfJ '` V ,� + Il✓�,.'f� d /� r 1 � a ��r r r r° '. ' ,":+C'"�jy�1�Vi��' ^"�' //�/��//� / r ��!' -� % rr ,;,nr r Yr�✓r, /fir/ /i �nLF y!/.;� G / � //, J r v r ✓� � r ' � Pf ,� �j 1� �� 1� City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved As Amended on 2/21/2017 - Resolution No. 4750-02-2017, 4751-02-2017,4752-0 -2017, 4753-02-2017, 4754.02-20"17, 4755-02-2017, & 4756-Q2-201,7 DATE: Tuesday, February 21, 2017 REFERENCE NO.: G-18952 LOG NAME: 19RESOLUTIONS—FOR-2017 9 PERCENT—TAX—CREDIT—APPLICATIONS SUBJECT: Consider and Adopt Resolutions of Support for 2017 Housing Tax Credit Applications, Approve Commitment of Development Funding and Adopt Resolution Determining Columbia Renaissance Square II-Senior Contributes More Than Any Other Development to the Concerted Revitafizabon Efforts of the City (COUNCIL DISTRICTS 3, -7, 8 n ) RECOMMENDATION: It is recommended that the CityCouncil: 1. Acknowledge the receipt of requests for support for applications for 2017 Competitive (9%) Housing Tax Credits from various developers; a Consider and adopt the attached Resolutions of Support for 2017 applications for Competitive (9%) Housing Tax Credits for the eigM sixmultifamily housing developments listed below to be located at various sites throughout the City; . Approve fee waivers in an amount not to exceed 2„500..00 for each of the developments listed below s commitment of development funding and find such waivers serve the public purpose of providing quality, accessible, affordable housing for low to moderate income households„ in accordance with City's Comprehensive Plan andAnnual Action Plan and find that adequate controls are in place through the Neighborhood Services Department to carry out such publlic purpose„ and Adopt the attached Resolution determining that Columbia Renaissance Square II-Senior to be located at the northwest corner o Moresby Street and W.G. Daniels Drive in the Berry Hill-Mason Heights Neighborhood Empowerment Zone is the development that contributes more than any other to the concerted revitalization efforts of the City. DISCUSSION: On December 139 2016, the CityCouncil adopted a policy for Council Resolutions of Support or No Objection for 2017 applications to theTexas Department of Housing and Community Affairs (TDHCA) for Competitive ( %) Housing Tax Credits and for local government commitment of development funding (M&C ®18902)„ The approved policy requires that in order to receive a Resolution of Sumort„ a development must have the following, minirnumof five percent of the total units arededicated as market rate units and it has met one of the following-, L :* d�t�P'I C°A ION Pae t of �:��n.art�.e: lttA:;�C) .,�;�'1"TC.t�l� .�� C� � 17� taaft.C�.L, 't"_..`f"A. .. CREDIT".... (a) ten percent of the total units dedicated for Dental Assistance Demonstration units, or ( ) five percent of the total units dedicated for Permanent Supportive Housing units. City Council, at its discretion, may choose to offer developments that qualify for a Resolution of Support a commitment of development funding, such as a tax abatement or a waiver of development fees. If a Resolution of Support is not granted, City Council may consider granting a Resolution of No Objection for the development. This year 17 applicants submitted pre-appi i cations to TDI-iCA for proposed developments in the City Fort Worth° Due to the highvolume of applications and limited TDI-ICS, funding, the City desires to maximize its impact with Resolutions of Support by focusing on developments that best serve the City's housing needs. In order to achieve this oa , Staff recommends that the CityCouncil consider additional criteria for Resolutions of Support including proximity to services and transit, whether the development will be exempt from valorem taxes, future land use compatibility, geographic balance throughout the City including both HighOpportunity areas and Central City Revitalization as defined by TDHCA, and school district support. Resolutions of Support: Staff requests that the CityCouncil consider and adopt Resolutions of Support for the following applications: , ., ®. .m.......®.. lual,Serviee Read (6eumeil Distriet 7, Mapsee 2-TG amd 2 q lz) The site for the proposed developmemt is zomed 1 , Columbia Renaissance Square II-Senior to be developed by Columbia Renaissance Square II, ., an affiliate of New Columbia Residential, LLC, to be located at the northwest corner of Moresby Street and W.G. Daniels Drive (Council District 8, Mapsco 78X and78W). The site for the proposed development is zoned / - Planned Development for all uses in "D" High Density Multifamily. p 1 P8 f ap-plear-unt propose !1 OA ° iurrt Mistletoe Station to be developed by Mistletoe Station, LLC, an affiliate of Saigebrook Development, LLC, to be located approximately at 1916 Mistletoe Boulevard and 2116 Beckham Place(Council District , Mapsco 76L), The sitefor the proposed development is zoned "NS-TY r Southside which allows r high density, mixed-use„ pedestrian-oriented development. Palladium Fort Worth be developed by Palladium Fort Worth, Ltd., an affiliate of Palladium IDSA,, Inc., to be located at the north side of Westpoint Boulevard west of Loop 820 (Council District 3, Mapsco 72D). The siter the proposed development is zoned PPC" Medium Density Multifamily. Vista Park West to be developed by AMTEX Vista ParkFund„ LP, an affiliate A TBX Multi-housing, LLC, to be located approximately at 2001 Chapel Creek Boulevard (Council District 3, Mapsco 7213)a The site r the proposed development is zoned PPCF° Medium Density Multifamily. Reserve at Silver Creek to be developed by Reserve at Silver Creek, LLC, an affiliate of the MV Affordable Housing LLC and Generation Housing Development, LLC, to be located at the northwest 1.ogn m e: 19R:ESC71.,L TIONS.._FO ........2017.......9 PERCENI....._.TAX,- f:,Rf.°',Dl'.1.., PP't.,I("AT Page 2 of corner o Silver Creek Road and Verna Trail North (Council District 3, Mapsco 58L and58M)„ The sitefor the proposed development is zoned "A-10" - One-Family, but the applicant proposes a zoning change for a master planned community to include but not be limited to a variety of housing types and recreational features. The Vineyard on Lancaster to be developed by The Vineyard on Lancaster, L.P., an affiliate of Union Gospel Mission of Tarrant County„ to be located approximately at 1413 t Lancaster Avenue (Council District 8, Mapsco 77C). The site for the proposed development is zoned both PD/MU-2 - Planned Development for all uses in - "MU-2" Low Intensity Mixed-Use which allows for higher density„ mixed-use„ pedestrian-oriented development for designated mixed-use growth centers and urban villages so s to concentrate a variety of housing types among neighborhood-serving commercial and institutional uses. The PD with a site I n was required for shelter use since a portion of the subject property may be used by Union Gospel Mission for a homeless shelters As The 'vineyard on Lancaster is a residential project that meets the MU-2district regulations, the PD district is not necessary and needs to be removed, The applicant proposes a zoning change to MU-2 for the entire proposed development. Commitment of Develop)rnent Fundin ; The policy also allows„ at CityCouncil discretion, a commitment of development funding, This commitment of development funding qualifies applicants for an additional point and increases the competitiveness o their applications, Staff requests that City Council approve commitments of development funding in the form of fee waivers in an amount not to exceed $2,500.00 for each application recommended for a Resolution of Support. The fee waiver amount may be applied to (a) building permit related fees (including Plans Review„ Inspections and Re-inspection Fees); ( ) Plat/Replat Application l=ees„ (c) Board f Adjustment Application Fees, ( ) Demolition Fees-, (e) Structure Moving Fees-, ( Zoning Fees„ (g) Street/Alley and Utility Easement Vacation Application Fees-, (h) Temporary Encroachment Fees; (I) Consent/Encroachment Agreement Application Fees, °) Urban ForestryApplication Fees-, ( ) Sign Permit Fees, (1) Community Facilities Agreement (CFA)Application Fees; and (rn) Street Closure Fees. Fee waivers will be conditioned upon the development receiving an allocation of Housing Tax Credits by DHCA. The City's Neighborhood Services Department will be responsible for verifying that the public purpose for the fee waivers is carried out, Concerted Revitalization Plan: TDHCA rules state that an application may receive additional points if the proposed development is identified in a resolution as contributing more than any other development to a city or county's concerted revitalization efforts, The Columbia Renaissance Square II-Senior development is located in the Berry Hill-Mason Heights Neighborhood Empowerment Zone ( EZ) which was adopted by the CityCouncil in 2007 along with s strategic plan for the area. determined that this development will significantly contribute to the continued revitalization efforts in the NEZ because it is housing targeted for seniors. In addition, the increased density will support the new retail, office n multifamily development located i the NEZ. Staff recommends that the City Council adopt the attached Resolution determining that the Columbia Renaissance Square 11-Senior development contributes more than any other to the concerted revitalization efforts of the City, in that the development will significantly contribute to the revitalization efforts underway in the NEZ. II of these proposed developments are subject to all applicable City laws, ordinances, policies and procedures including those pertaining to zoning changes and annexation. Councilmember support for purposes of these Resolutions does not constitute approval of anyrequired zoning change or annexation. The proposed developments are located in COUNCIL DISTRICTS 3„ -7, 8 and . This C does not request approval of a contract with a business entity. FI CAL INFGRMA TION / CERTIFICATION: _.a FI:RR °E rrl:"....°ii :IR.EDIT-APPLICATIONS LICATIC) S haft of t:�cartaa�r� a I9I ^,SGI�I..��I"I�iIS...I�t7I�_ 20I�. 9.... Budget. Upon approval, fees will be waived up to $2,500.00 for each development to assist in facilitating the goals aft City's Comprehensive Plan and Annual Action Plan. .. .................. ..........- FUND IDENTIFIERafflDs TO .......... ...... ........... ....... ......... - , ---e-'-i Pi�grar— �-ilvhy ud Reference # Amount ID Year ............ ..Fu D..e partment Pro' ..........lChartfield 2) . ..................... ............................. ........................... ...................... FROM —�Fund -ii t-6v--it Reference.-t %mou:nj ield _(Chartf ......................... ......................................... ... .......... ------.......................... .......... CERTIFICATIONS: Submitted for Ci ly Mana er's Office by; Fernando Costa (6122) Originating Department Head: Aubrey Thagard (8187) Additional Information Contact: Avis Chaisson (6342) .......... .......--------------............. ........... Ike gname: 191U,,S0IAJTI0NS,_F0R--2017 9 PERCENT TAX-CREDIJ APPLICATIONS Page 4 of 4