HomeMy WebLinkAbout2021/02/23-Attachments-Clifton Riverside Final.PDFA Resolution
NO.
SUPPORTING A HOUSING TAX CREDIT APPLICATION FOR CLIFTON RIVERSIDE,
COMMITTING DEVELOPMENT FUNDING, DETERMINING THAT CLIFTON RIVERSIDE
CONTRIBUTES MORE THAN ANY OTHER DEVELOPMENT TO THE CITY'S
CONCERTED REVITALIZATION EFFORTS IN NEIGHBORHOOD EMPOWERMENT
ZONE AREA FOUR, AND ACKNOWLEDGING THAT CLIFTON RIVERSIDE IS LOCATED
ONE LINEAR MILE OR LESS FROM A DEVELOPMENT THAT SERVES THE SAME
TARGET POPULATION
WHEREAS, the City's 2020 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, Clifton Riverside, LLC, an affiliate of Saigebrook Development, LLC and O-SDA
Industries, LLC, has proposed a development for affordable multifamily rental housing named Clifton
Riverside to be located at 2406 and 2412 East Belknap Street in the City of Fort Worth;
WHEREAS, Clifton Riverside, LLC has advised the City that it intends to submit an application
to the Texas Department of Housing and Community Affairs ("TDHCA") for 2021 Competitive (9%)
Housing Tax Credits for the Clifton Riverside, a new complex consisting of approximately 97 units, of
which at least ten percent (10%) of the total units will be set aside for households earning at or below
30% Area Median Income and at least ten percent (10%) of the total units will be market rate units;
WHEREAS, TDHCA's 2021 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 Neighborhood Empowerment Zones ("NEZ") beginning in 2001 in
accordance with Chapter 378 of the Texas Local Government Code in order to promote affordable housing
and economic development in the designated zones. The City consolidated its 20 NEZs into (6) NEZs in
January 2019 (M&C G-19469). All of the City's NEZs are included in the City's annual Comprehensive
Plan as part of its goal of revitalizing central city neighborhoods and commercial districts (2020
Comprehensive Plan, Part II, Chapter 5:Housing);
WHEREAS, the Clifton Riverside will be located in NEZ Area Four;
WHEREAS, the City has determined that the application for Clifton Riverside submitted to
TDHCA by Clifton Riverside, LLC qualifies as the development contributing more than any other to the
concerted revitalization efforts of the City in NEZ Area Four; and
WHEREAS, section 10 TAC § 11.3(d) of the QAP states that the Governing Body of the
appropriate municipality where the Development is to be located must by vote specifically allow the
construction of a new development located within one linear mile or less from a development which serves
the same target population.
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 Clifton Riverside, LLC to the Texas Department of Housing and Community Affairs for
2021 Competitive (9%) Housing Tax Credits for the purpose of the development of the Clifton Riverside
apartments to be located at 2406 and 2412 East Belknap Street (TDHCA Application No. 21078), 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 Clifton Riverside, 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 Clifton Riverside
(TDHCA Application No. 21078) as the development in the 2021 Competitive (9%) Housing Tax Credit
Application round that contributes more than any other to the concerted revitalization efforts of the City
in Neighborhood Empowerment Zone Area Four, 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 acknowledges that Clifton Riverside is located one linear mile or less from
a development that serves the same target population as the proposed Clifton Riverside and has received
an allocation of Housing Tax Credits for new construction and adaptive reuse, and this formal action has
been taken to put on record the opinion expressed by the City Council of the City of Fort Worth to
authorize the Development to move forward.
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,
Clifton Riverside, LLC
Adopted this 16th day of February, 2021.
ATTEST:
By:
Mary J. Kayser, City Secretary