HomeMy WebLinkAboutResolution 3977-03-2011A Resolution
NO. 3977 -03 -2011
SUPPORTING A LOW INCOME HOUSING TAX CREDIT APPLICATION AND
ALLOWING THE REHABILITATION OF THE PILGRIM VALLEY MANOR
APARTMENTS
WHEREAS, the City of Fort Worth's 2011 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 2010 -2013 Consolidated Plan makes the development of
quality affordable accessible rental housing units for low income residents of the City of Fort Worth
( "City ") a high priority;
WHEREAS, Pilgrim Valley Manor, LP has proposed to acquire and rehabilitate the Pilgrim
Valley Manor apartments located at 1701 E Robert Street in Fort Worth;
WHEREAS, Pilgrim Valley Manor, LP intends to submit an application to the Texas
Department of Housing and Community Affairs ( "TDHCA ") for 2011 Low Income Housing Tax Credits
( "LIHTC ") for the Pilgrim Valley Manor apartments (the "Project ") proposing Rehabilitation;
WHEREAS, pursuant to Section 49.8(2)(8) of the Texas Administrative Code, the City Council
acknowledges that the proposed rehabilitation Project is located one linear mile or less from an older
project that serves the same type of household as the new Project and that older project has received
an allocation of LIHTC since December 2007;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS THAT:
1. The City of Fort Worth supports the proposed rehabilitation of the Pilgrim Valley Manor
apartments (the "Project "), and the City Council authorizes an allocation of Low Income Housing Tax
Credits for the Project.
2. Further, the City Council of the City of Fort Worth, Texas believes there is a need to
preserve the affordable housing units in the City.
Adopted this 22nd day of March 2011.
ATTEST:
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By: �
Marty Hendrix, ity Secretary
UWO r
1111111
APPROVED
CITY COUNCIL
MAR 2 2 2011
Cttty o of the Fort orth, Texas
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTIOW Approved on 312212011 - Res. No 3977 - 03.2011
DATE: Tuesday, March 22, 2011 REFERENCE NO.: * *G -17230
LOG NAME: 17PILGRIMVALLEYRESOLUTION
SUBJECT:
Adopt Resolution Supporting the 2011 Low Income Housing Tax Credit Application for Pilgrim Valley
Manor Apartments at 1701 E. Robert Street and Waiving the One Mile, Three Year Rule (COUNCIL
DISTRICT 8)
RECOMMENDATION:
It is recommended that the City Council adopt the attached Resolution supporting the 2011 Low Income
Housing Tax Credit application for Pilgrim Valley Manor Apartments at 1701 E. Robert Street and waiving
the One Mile, Three Year Rule.
DISCUSSION:
Pilgrim Valley Manor, LP is submitting an application for 2011 Low Income Housing Tax Credits ( LIHTC)
to the Texas Department of Housing and Community Affairs for the Pilgrim Valley Manor apartments
located at 1701 E. Robert Street. In order for the application to be competitive, the City Council must
approve a resolution supporting the project and waiving the One Mile, Three Year Rule. The State of
Texas Qualified Action Plan states that proposed LIHTC projects cannot be located within one linear mile
of an existing LIHTC project if the existing project received tax credits within three years of the date of the
current Application Round. This rule, known as the One Mile, Three Year Rule, can be waived by vote of
the local jurisdiction specifically allowing for the proposed project.
The proposed project consists of the acquisition and rehabilitation of the Pilgrim Valley Manor Apartments
a 168 unit multifamily complex located at 1701 E. Robert Street in Fort Worth. The complex consists of
one, two and three bedroom units that will be affordable to households earning 30 percent, 50 percent and
60 percent of Area Median Income (AMI) as determined by the United States Department of Housing and
Urban Development (HUD). The new amenities will include community gardens, exercise room, laundry
facility, computer lab and media room. In addition, the community building will be reconstructed and
various supportive services will be offered to the tenants.
This project is located in COUNCIL DISTRICT 8.
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that this action will have no material effect on City
funds.
FUND CENTERS:
TO FROM Fund /Account/Centers
CERTIFICATIONS:
Logname: 17PILGRIMVALLEYRESOLUTION Page 1 of 2
Submitted for City Manager's Office by:
Originating Department Head:
Additional Information Contact:
Susan Alanis (8180)
Jay Chapa (5804)
Cynthia Garcia (8187)
Fabiola Suarez (6811)
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