HomeMy WebLinkAbout(0099) FINAL St. Giles v.2 CL JP VG.PDFA Resolution
NO.
SUPPORTING A HOUSING TAX CREDIT APPLICATION FOR THE ST. GILES,
COMMITTING DEVELOPMENT FUNDING, AND DETERMINING THAT THE ST. GILES
CONTRIBUTES MORE THAN ANY OTHER DEVELOPMENT TO THE CITY'S
CONCERTED REVITALIZATION EFFORTS IN THE STOCKYARDS/NORTHSIDE TAX
INCREMENT FINANCING DISTRICT
WHEREAS, the City's 2019 Comprehensive Plan is supportive of the preservation,
improvement, and development of quality, affordable, accessible housing;
WHEREAS, the City's 2018-2022 Consolidated Plan makes the development of quality,
affordable, accessible rental housing units for low income residents of the City a high priority;
WHEREAS, HTG St. Giles, LLC, an affiliate of Housing Trust Group, has proposed a
development for mixed income affordable multifamily rental housing named The St. Giles to be located
at 2707 Decatur Avenue in the City of Fort Worth;
WHEREAS, HTG St. Giles, LLC has advised the City that it intends to submit an application to
the Texas Department of Housing and Community Affairs ("TDHCA") for 2020 Competitive (9%)
Housing Tax Credits for The St. Giles apartments, a new complex consisting of approximately 60 units,
of which at least ten percent (10%) of the total units will be set aside for households earning at or below
thirty percent (30%) Area Median Income and at least ten percent (10%) of the total units will be
market rate units;
WHEREAS, TDHCA's 2020 Qualified Allocation Plan ("QAP") provides that an application
for Housing Tax Credits may receive seventeen (17) points for a resolution of support from the
governing body of the jurisdiction in which the proposed development site is located;
WHEREAS, the QAP also states that an application may receive one (1) point for a commitment
of development funding from the city in which the proposed development site is located;
WHEREAS, the QAP also provides that an application may qualify for an additional two (2)
points if a development is explicitly identified in a resolution as "contributing more than any other to the
concerted revitalization efforts" of a municipality;
WHEREAS, the City created the Stockyards/Northside Tax Increment Financing District
("TIF") in 2014 in accordance with Chapter 311 of the Texas Tax Code by which local governments
can publicly finance needed structural improvements and enhanced infrastructure within a defined area
called a reinvestment zone;
WHEREAS, The St. Giles apartments are located in the Stockyards/Northside TIF; and
WHEREAS, the City has determined that the application for The St. Giles apartments submitted
to TDHCA by HTG St. Giles, LLC qualifies as the development contributing more than any other to the
concerted revitalization efforts of the City in the Stockyards/Northside TIF
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 HTG St. Giles, LLC to the Texas Department of Housing and Community Affairs for
2020 Competitive (9%) Housing Tax Credits for the purpose of the development of The St. Giles
apartments to be located at 2707 Decatur Avenue (TDHCA Application No. 20014), 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 HTG St. Giles, LLC conditioned upon its 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, hereby identifies The St. Giles
apartments (TDHCA Application No. 20014) as the development in the 2020 Competitive (9%)
Housing Tax Credit Application round that contributes more than any other to the concerted
revitalization efforts of the City in the Stockyards/Northside TIF, 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, 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, HTG St. Giles, LLC.
Adopted this 18th day of February, 2020.
ATTEST:
By:
Mary J. Kayser, City Secretary