HomeMy WebLinkAbout(0092) 19SHADYOAKSRESOLUTION_FINAL.PDFA Resolution
NO.
A RESOLUTION OF NO OBJECTION TO SUPPORT A HOUSING TAX CREDIT
APPLICATION FOR THE DEVELOPMENT OF SHADY OAKS MANOR
WHEREAS, the City of Fort Worth's 2020 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 2018-2022 Consolidated Plan makes the
development of quality, affordable, accessible rental housing units for the City's low-income
residents a high priority;
WHEREAS, LRC Shady Oaks Manor, LLC, an affiliate of Envolve Communities, LLC,
has proposed the acquisition and rehabilitation of a 138-unit affordable senior multifamily rental
housing development named Shady Oaks Manor, located at 6148 San Villa Drive in the City of
Fort Worth, in which all units are restricted to households with incomes at or below fifty percent
(50%) of Area Median Income; and
WHEREAS, LRC Shady Oaks Manor, LLC has advised the City that it intends to submit
an application to the Texas Department of Housing and Community Affairs ("TDHCA") for 2020
Non -Competitive (4%) Housing Tax Credits to finance a portion of the costs of development.
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 acquisition and rehabilitation of Shady Oaks Manor has been provided to the
City Council by LRC Shady Oaks Manor, LLC 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 LRC Shady
Oaks Manor, LLC 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. After due consideration of the information provided by LRC Shady Oaks Manor, LLC
and any public comment on the proposed development, the City Council does not
object to the application of LRC Shady Oaks Manor, LLC to the TDHCA for 2020
ORT LVOVII-
rM
Non -Competitive (4%) Housing Tax Credits for the purpose of the acquisition and
rehabilitation of Shady Oaks Manor.
Adopted this 23rd day of June, 2020.
ATTEST:
By:
Mary J. Kayser, City Secretary
ORT LVOVII-
rM