HomeMy WebLinkAbout2021/02/23-Attachments-Parmore_PP_Clean.PDFA Resolution
NO.
SUPPORTING A HOUSING TAX CREDIT APPLICATION FOR PARMORE PLAZA PKWY
AND COMMITTING DEVELOPMENT FUNDING
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, Parmore Plaza Pkwy, LP, an affiliate of JPI, has proposed a development for
affordable senior multifamily rental housing named Parmore Plaza Pkwy to be located at the northeast
corner of Plaza Parkway and Lands End Boulevard in the City of Fort Worth;
WHEREAS, Parmore Plaza Pkwy, LP 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 Parmore Plaza Pkwy apartments, a new complex consisting of approximately
91 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; and
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.
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 Parmore Plaza Pkwy, LP to the Texas Department of Housing and Community Affairs for
2021 Competitive (9%) Housing Tax Credits for the purpose of the development of the Parmore Plaza
Pkwy apartments to be located at the northeast corner of Plaza Parkway and Lands End Boulevard
(TDHCA Application No. 21211), 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 Parmore Plaza Pkwy, LP 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, 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,
Parmore Plaza Pkwy, LP.
Adopted this 16th day of February, 2021.
ATTEST:
By:
Mary J. Kayser, City Secretary