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Home My WebLink AboutResolution 4963-08-2018 A Resolution NO. 4963-08-2018 A RESOLUTION OF NO OBJECTION TO SUPPORT A HOUSING TAX CREDIT APPLICATION FOR THE DEVELOPMENT OF THE PATRIOT POINTE APARTMENTS WHEREAS, the City of Fort Worth's 2018 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 Patriot Pointe, LP, an affiliate of LDG Development, LLC and Fort Worth Housing Solutions, has proposed the development of an approximately 220-unit mixed income multifamily rental housing development named the Patriot Pointe Apartments, located north of the intersection of Resource Drive and Southeast Loop 820 in the City of Fort Worth, which includes units affordable to households with incomes at or below sixty percent (60%) of Area Median Income, Rental Assistance Demonstration units, and market rate units; WHEREAS, FW Patriot Pointe, LP has advised the City that it intends to submit an application to the Texas Department of Housing and Community Affairs ("TDHCA") for 2018 Non-Competitive (4%) Housing Tax Credits to finance a portion of the costs of development; WHEREAS, the proposed development site of the Patriot Pointe Apartments is located one (1) linear mile or less from another development which serves the same type of households and which received an allocation of Housing Tax Credits on May 25, 2017, and TDHCA's One Mile Three Year Rule in the 2018 Qualified Action Plan("QAP") requires the governing body of the local jurisdiction to vote specifically to allow the construction of a new development located within one(1)mile or less of a current development which received tax credits within the last three (3) years; and WHEREAS, Patriot Pointe is located adjacent to a railroad and its associated easement, and the City Planning and Zoning Codes and Ordinances provide that a development located adjacent to such an easement is permitted with 0' of required setback. 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 Patriot Pointe Apartments has been provided to the City ORTWO.4Tu Council by FW Patriot Pointe, 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 Patriot Pointe, 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. 4. Pursuant to Section 11.3(d) of the Texas Administrative Code, the City of Fort Worth, acting through its City Council, acknowledges that the proposed development site of the Patriot Pointe Apartments is located one (1) linear mile or less from another development which serves the same type of households and which received an allocation of Housing Tax Credits for New Construction on May 25, 2017, that it has voted specifically to allow the construction of the Patriot Pointe Apartments and to authorize an allocation of Housing Tax Credits for the development, 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. 5. After due consideration of the information provided by FW Patriot Pointe, LP and any public comment on the proposed development, the City Council does not object to the application of FW Patriot Pointe, LP to the TDHCA for 2018 Non-Competitive (4%) Housing Tax Credits for the purpose of the development of the Patriot Pointe Apartments. Adopted this 7th day of August, 2018. ~ �oFFORr.�o ATTEST: 13 By: 1\ ary J. Kayser t ere �XAS oRTWoFRTH Patriot Pointe Council District 8 0 N � , F �, f ST 7 i+l 1 dG — w S q2 C. ®.. is 67 30 / Y r JI iY 4� i' Al 0 District 8 Q �^46 _ R _ a p 4� � T � 4 � • a. (Ade �. r F r f_ Patriot Pointe ._ _ • V Am -s.-_r'-`� - .--_� mak ' y. City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 8/7/2018 - Resolution No. 4963-08-2018 DATE: Tuesday, August 7, 2018 REFERENCE NO.: G-19338 LOG NAME: 19PATRIOT POINTE RESOLUTION SUBJECT: Conduct Public Hearing on the Application by FW Patriot Pointe, LP to the Texas Department of Housing and Community Affairs for Non-Competitive Housing Tax Credits for the Patriot Pointe Apartments, a Tax Exempt Development to be Located North of the Intersection of Resource Drive and Southeast Loop 820, Adopt a Resolution of No Objection to the Application, Acknowledge that the One Year, Three Mile Rule Applies to the Proposed Development, and Make Related Determinations (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 Patriot Pointe, LP to the Texas Department of Housing and Community Affairs for 2018 Non-Competitive (4%) Housing Tax Credits for the Patriot Pointe Apartments, a proposed tax exempt development to be located north of the intersection of Resource Drive and Southeast Loop 820; 2. Adopt the attached Resolution of No Objection to the application by FW Patriot Pointe, LP to the Texas Department of Housing and Community Affairs for 2018 Non-Competitive (4%) Housing Tax Credits for the Patriot Pointe Apartments, a proposed tax exempt development; and 3. Acknowledge that the One Year, Three Mile Rule applies to the Patriot Pointe Apartments and agree to specifically allow the construction of the development and an allocation of Housing Tax Credits for it. DISCUSSION: FW Patriot Pointe, LP, an affiliate of LDG Development LLC, 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 Patriot Pointe Apartments, a mixed-income multifamily rental housing development, and has requested a Resolution of No Objection 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 Patriot Pointe Apartments will have approximately 220 units. There will be 11 market rate units, 22 Rental Assistance Demonstration (RAD) units for households earning 50% or less of Area Median Income (AMI), and 187 units for households earning 51% to 60% of AMI. The development will have one, two, three, and four bedroom units. The amenities include a clubhouse, community pool, exercise room, heath/wellness classes, and a "tot-lot" and children's playground. The Patriot Pointe Apartments meet the City's criteria in its Housing Tax Credit policy to receive a Resolution of No Objection from the City Council for its application for Non-Competitive (4%) Housing Tax Credits as it has five percent market rate units and ten percent RAD units. Logname: 19PATRIOT POINTE RESOLUTION Page I of 2 At its meeting on April 19, 2018, the Fort Worth Housing Solutions (FWHS) Board of Commissioners approved a partnership with LDG Multifamily, LLC wherein FWHS will be the sole member of FW Patriot Pointe, GP LLC, the general partner of FW Patriot Pointe, LP, the entity that will construct, own and manage the Patriot Pointe Apartments. FWHS will own the land on which the development is sited. The development will be exempt from property taxes. The Patriot Pointe Apartments will be located within one linear mile of another development serving the same type of households that received an allocation of Housing Tax Credits on May 25, 2017. 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. Staff recommends that City Council vote specifically to allow the development of the Patriot Pointe Apartments. 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 Patriot Pointe Apartments. The development could assist the City in fulfilling its goals under its Consolidated Plan and Comprehensive Plan by providing quality, accessible, affordable housing for low to moderate income residents. The developer met with Highland Hills Neighborhood Association on May 3, 2018 to obtain feedback on the proposed development. Zoning for the development was recently changed on June 5, 2018 from "I" (Light Industrial) to "D" (High Density Multifamily). This development is located in COUNCIL DISTRICT 8. This M&C does not request approval of a contract with a business entity. FISCAL INFORMATION / CERTIFICATION: The Director of Finance certifies that under the Agreement to develop the Patriot Pointe Apartments, Fort Worth Housing Solutions will be the real property owner and part of the ownership of the improvements. As such, the development will be exempt from paying property taxes in the approximate amount of$191,746.00 per year. 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: Chad LaRoque (2661) Logname: 19PATRIOT POINTE RESOLUTION Page 2 of 2