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HomeMy WebLinkAboutResolution 4890-12-2017A Resolution NO. 4890-12-2017 A RESOLUTION OF NO OBJECTION TO SUPPORT A HOUSING TAX CREDIT APPLICATION FOR THE DEVELOPMENT OF THE HEIGHTS AT WESTERN CENTER APARTMENTS WHEREAS, the City of Fort Worth's 2017 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, TX Western Center 2018 Ltd, an affiliate of Generation Housing Partners, LLC, has proposed an approximately 195-unit mixed income multifamily affordable rental housing development named The Heights at Western Center to be located at 1960 Western Center Boulevard in the City of Fort Worth, which includes units affordable to households with incomes at or below 60% of Area Median Income, permanent supportive housing units, and market rate units; and WHEREAS, TX Western Center 2018 Ltd has advised the City that it intends to submit an application to the Texas Department of Housing and Community Affairs for 2018 Non-Competitive (4%) Housing Tax Credits to iinance 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: Notice of intent to file an application for Non-Competitive (4%) Housing Tax Credits for the development of The Heights at Western Center has been provided to the City Council by TX Western Center 2018 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 TX Western Center 2018 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�I- t Resolution No. 4890-12-2017 4. After• due consideration of the infoi•mation provided by TX Western Center 2018 Ltd and any public comment on the proposed development, the City Council does not object to the application of TX Western Center 2018 Ltd to the Texas Department of Housing and Community Affairs for 2018 Non-Competitive (4%) Housing Tax Credits for the purpose of the development of The Heights at Western Center. Adopted this 12th day of December, 2017. ATTEST: '� ,a By: ��ti��;��� ��- � �.,. Mary J. Kayset, ty, Se �etaiy ORT WORT �� Heights at Western Center - 1960 Western Center Boulevard Council District 2 3. , _ , - �, ,_ .: �r �. ,. �� � �y ;;. '�,'�sr ,, � � ti �= a� ", �' � r � : . y -�, � � .'.,, 'r-�' Pro osed no »a W $.+�.ro�-r � ,`� � `.;� �.. �. b; 5 �� • � . 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'. _� t. �:� � . _ _ ��� ._ � . _.. _ , City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTI4N: Approued on 12/12/2017 - Resolution No. 4890-12-20'17 DATE: Tuesday, December 12, 2017 REFERENCE NO.: G-19199 LOG NAME: 19THEHEIGHTSATWESTERNCENTERRESOLUTION SUBJECT: Conduct Pubiic Hearing on the Appiication by TX Western Center 2018 Ltd to the Texas Department of Housing and Community Affairs for Non-Competitive Housing Tax Credits for the Development of The Heights at Western Center Apartments to be Located at 1960 Western Center Boulevard and Adopt Resolution of No Objection to the Appiication (COUNCIL DISTRICT 2) RECOMMENDATION: It is recommended that the City Council: 1. Conduct public hearing to ailow citizen comment on the application of TX Western Center 2018 Ltd to the Texas Department of Housing and Community Affairs for 2018 Non-Competitive (4%) Housing Tax Credits for the proposed development of The Heights at Western Center Apartments, a mixed income multifamily development to be located at 1960 Western Center Boulevard; and 2. Adopt the attached Resolution of No Objection to the application by TX Western Center 2018 Ltd to the Texas Department of Housing and Community Affairs for 2018 Non-Competitive (4%) Housing Tax Credits for the proposed development of The Heights at Western Center Apartments. DISCUSSION: TX Western Center 2018 Ltd is applying to the Texas Department of Housing and Community Affairs (TDHCA) for 2018 Non-Competitive (4%) Housing Tax Credits for the development of The Heights at Western Center Apartments, a mixed income muitifamily 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 Heights at Western Center will have approximately 195 units. There will be 10 market rate units, with the remaining 165 units set aside for households earing 60% or less of Area Median Income (AMI). Approximately 20 units will be set aside for households earning 30% or less of (AMI) including 10 units being set aside for Permanent Supportive Housing. The development will have one, two and three bedroom units. Community amenities include a state-of-the-art community center which will include a business center, learning classroom, fitness center, media room and full sized kitchen. Other community amenities include access gates, covered parking, swimming pool, playground areas, and courtyards with picnic tables and grilis. On December 5, 2017, the Board of Directors of the Fort Worth Housing Finance Corporation (FWHFC) approved entering a partnership with Generation Housing Partners, LLC, by forming the general partner of TX Western Center 2018 Ltd, the entity that will construct, own and manage the development. The FWHFC will own the land and lease it to the partnership under the terms of a long term ground lease and Logname: 19THEHEIGHTSATWESTERNCENTERRESOLUTION Page 1 of 2 will aiso be the co-developer and general contractor for the development. The zoning for the development will have to be changed from AG to C. The developer has met with the Alexandra Meadows and Crossings at Fossil Creek Neighborhood Associations, and is in the process of obtaining formal feedback from them. This development meets the criteria in the City's Housing Tax Credit Policy to receive a Resolution of No Objection. 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 2018 Non-Competitive (4%) Housing Tax Credits for the development of The Heights at Western Center 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. This development is located in COUNCIL DISTRICT 2. 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 on the Fiscal Year 2018 Budget. FUND IDENTIFIERS (FIDs�: TO Fund Department cc ...�_ _� I D FROM Fund Department Acc� ._.._.___ I D CERTIFICATIONS: un Project Prog ID Project ID Submitted for City Manager's Office b� Oriqinating Department Head: Additional Information Contact: Budget Reference # mou Year (Chartfield 2) vitylBudget Year Fernando Costa (6122) Aubrey Thagard (8187) Avis Chaisson (6342) Chad LaRoque (2661) Reference # Chartfield 2' mou Logname: 19THEHEIGHTSATWESTERNCENTERRESOLUTION Page 2 of 2