HomeMy WebLinkAboutResolution 4753-02-2017 A Resolution
NO. 4753-02-2017
SUPPORTING A HOUSING TAX CREDIT APPLICATION FOR PALLADIUM FORT
WORTH AND COMMITMENT OF DEVELOPMENT FUNDING
WHEREAS, the City's 2016 Comprehensive Plan is supportive of the preservation,
improvement, and development of quality affordable accessible rental and ownership housing;
WHEREAS, the City's 2013-2018 Consolidated Plan makes the development of quality
affordable accessible rental housing units for low income residents of the City a high priority;
WHEREAS, Palladium Fort Worth, Ltd., an affiliate of Palladium USA, Inc., has proposed a
development for affordable multifamily rental housing rained Palladium Fort Worth to be located on the
north side of Westpoint Boulevard, west of Loop 820 in the City of Fort Worth;
WHEREAS Palladium Fort Worth, Ltd. has advised the City that it intends to submit an
application to the Texas Department of Housing and Community Affairs ("TDHCA") for 2017
Competitive (9%) Housing Tax Credits for Palladium Fort Worth, a new complex consisting of
approximately 150 units, of which at least ten percent (10%) of the total units will be dedicated for
Rental Assistance Demonstration units and at least five percent (5%) of the total units will be market
rate units;
WHEREAS, TDHCA'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
governing body of the jurisdiction in which the proposed development site is located; and
WHEREAS,the QAP also awards one (1)point for a commitment of development funding from
the city in which the proposed development site is located.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS:
The City of Fort Worth, acting through its City Council, hereby confirms that it supports the
application of Palladium Fort Worth, Ltd. to the Texas Department of Housing and Community Affairs
for 2017 Competitive (9%) Housing Tax Credits for the purpose of the development of Palladium Fort
Worth to be located on the north side of Westpoint Boulevard, west of Loop 820 (TDHCA Application
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No. 17080), and that this formal action has been taken to put on record the opinion expressed by the City
Council of the City of Fort Worth.
The City of Fort Worth, acting through its City Council, additionally confirms that it will commit
to fee waivers in an amount not exceed $2,500.00 to Palladium Fort Worth, Ltd. conditioned upon
receipt of Housing Tax Credits. The City Council also finds that the waiver of such fees serves the
public purpose of providing quality, accessible, affordable housing to low and moderate income
households in accordance with the City's Comprehensive Plan and Action Plan, and that adequate
controls are in place through the City's Neighborhood Services Department to carry out such public
purpose.
The City of Fort Worth, acting through its City Council, further confirms that the City has not
first received any funding for this purpose from the applicant, affiliates of the applicant, consultant,
general contractor or guarantor of the proposed development or any party associated in any way with the
applicant, Palladium Fort Worth, Ltd.
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Palladium Fort Worth, Ltd.
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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, 4752-02-2017, 4753-02-2017, 4754-02-2017, 4755-02-2017, & 4756-02-2017
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 Revitalization Efforts of the City
(COUNCIL DISTRICTS 3, 7, 8 and 9)
RECOMMENDATION:
It is recommended that the City Council:
1. Acknowledge the receipt of requests for support for applications for 2017 Competitive (9%) Housing
Tax Credits from various developers;
2. Consider and adopt the attached Resolutions of Support for 2017 applications for Competitive (9%)
Housing Tax Credits for the eight six multifamily housing developments listed below to be located at
various sites throughout the City;
3. Approve fee waivers in an amount not to exceed $2,500.00 for each of the developments listed below
as commitment of development funding and find such fee waivers serve the public purpose of providing
quality, accessible, affordable housing for low to moderate income households, in accordance with the
City's Comprehensive Plan and Annual Action Plan and find that adequate controls are in place through
the Neighborhood Services Department to carry out such public purpose; and
4. Adopt the attached Resolution determining that Columbia Renaissance Square II-Senior to be located
at the northwest corner of 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 13, 2016, the City Council adopted a policy for Council Resolutions of Support or No
Objection for 2017 applications to the Texas Department of Housing and Community Affairs (TDHCA) for
Competitive (9%) Housing Tax Credits and for local government commitment of development funding
(M&C G-18902).
The approved policy requires that in order to receive a Resolution of Support, a development must have
the following:
A minimumof five percent of the total units are dedicated as market rate units and it has met one of
the following:
Logname: 19RESOLUTIONS_FOR_2017_9 PERCENT_TAX_CREDIT_APPLICATIONS Page I of 4
(a) ten percent of the total units dedicated for Rental Assistance Demonstration units; or
(b) 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-applications to TDHCA for proposed developments in the City of
Fort Worth. Due to the high volume of applications and limited TDHCA 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 goal, Staff recommends that the City Council consider additional
criteria for Resolutions of Support including proximity to services and transit, whether the development will
be exempt from ad valorem taxes, future land use compatibility, geographic balance throughout the City
including both High Opportunity Areas and Central City Revitalization as defined by TDHCA, and school
district support.
Resolutions of Support:
Staff requests that the City Council consider and adopt Resolutions of Support for the following
applications:
(formerly Keller I locks Read), south of Timberland Boulevard amd east of the 11000 bloek of 11 1 35
Serviee Read (Getimewl Distriet 7, Mapseo 216 and 21 Iz). The site for the proposed developmemt is zoned
PEK) Rammed Beveloprmemt for a" uses On "B"
118-tris-
Columbia Renaissance Square II-Senior to be developed by Columbia Renaissance Square II, L.P., 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 and 78W). The site for the proposed development is
zoned PD/D - Planned Development for all uses in "D" High Density Multifamily.
Development,Ga's at Affite Yost& be developed by Ga's at Alta Vests, LP, am affiliate of Gardme.r Gapital
!me., to be 'oested at the northeast quadramt of Keller I lieks Read amd Alta Vists Read (Geumeil ,
Mapsee 21K). The site for the proposed develeprmemt *9 zoned "E"
Neighborhood Gornmereial, but the
"G"
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
9, Mapsco 76L). The site for the proposed development is zoned "NS-T5" Near Southside which allows
for high density, mixed-use, pedestrian-oriented development.
Palladium Fort Worth be developed by Palladium Fort Worth, Ltd., an affiliate of Palladium USA, Inc., to
be located at the north side of Westpoint Boulevard west of Loop 820 (Council District 3, Mapsco
72D). The site for the proposed development is zoned "C" Medium Density Multifamily.
Vista Park West to be developed by AMTEX Vista Park Fund, LP, an affiliate AMTEX Multi-housing, LLC,
to be located approximately at 2001 Chapel Creek Boulevard (Council District 3, Mapsco 72B). The site
for the proposed development is zoned "C" 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
Logname: 19RESOLUTIONS_FOR 2017_9 PERCENT_TAX CREDIT_APPLICATIONS Page 2 of 4
corner of Silver Creek Road and Verna Trail North (Council District 3, Mapsco 58L and 58M). The site for
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 East 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 and "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 as to concentrate a variety of housing types among neighborhood-serving commercial and institutional
uses. The PD with a site plan was required for shelter use since a portion of the subject property may be
used by Union Gospel Mission for a homeless shelter. As The Vineyard on Lancaster is a residential
project that meets the MU-2 district 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 Development Funding_
The policy also allows, at City Council discretion, a commitment of development funding. This commitment
of development funding qualifies applicants for an additional point and increases the competitiveness of
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); (b) Plat/Replat Application Fees; (c) Board
of Adjustment Application Fees; (d) Demolition Fees; (e) Structure Moving Fees; (f) Zoning Fees; (g)
Street/Alley and Utility Easement Vacation Application Fees; (h) Temporary Encroachment Fees; (i)
Consent/Encroachment Agreement Application Fees; 0) Urban Forestry Application Fees; (k) Sign Permit
Fees; (1) Community Facilities Agreement (CFA)Application Fees; and (m) Street Closure Fees.
Fee waivers will be conditioned upon the development receiving an allocation of Housing Tax Credits by
TDHCA. 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 (NEZ) which was adopted by the City Council in
2007 along with a strategic plan for the area. Staff 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 and multifamily development located in
the NEZ. Staff recommends that the City Council adopt the attached Resolution determining that the
Columbia Renaissance Square II-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.
All 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 any required zoning change or annexation.
The proposed developments are located in COUNCIL DISTRICTS 3, 7, 8 and 9.
This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
Logname: 19RESOLUTIONS FOR 2017_9 PERCENT_TAX CREDIT_APPLICATIONS Page 3 of 4
Budget. Upon approval, fees will be waived up to $2,500.00 for each development to assist in facilitating
the goals of the City's Comprehensive Plan and Annual Action Plan.
FUND IDENTIFIERS (FIDs):
TO
Fund Department ccoun Project �ProgramActiiviity Budget Reference # moun
ID ID Year Chartfield 2
FROM
Fund Department ccoun Project JProgram 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: 19RESOLUTIONS FOR_2017_9 PERCENT TAX_CREDIT APPLICATIONS Page 4 of 4