HomeMy WebLinkAboutResolution 4182-02-2013 A Resolution
NO. 4182-02-2013
Supporting a 2013 Housing Tax Credit Application for the Reserve at
McAlister
WHEREAS, The Reserve at McAlister, LLC, an affiliate of the Miller Valentine Group, is
proposing to construct a senior multifamily development on approximately seven (7) acres located north
of McAlister Road, south of FM 1187, and west of Interstate 35 South;
WHEREAS, all of the 124 proposed residential units in the development will be leased to
citizens whose income is at or below the 60% of Area Median Income;
WHEREAS, the City's 2010-2013 Consolidated Plan makes the development of quality,
affordable, accessible rental housing units for low income City residents a high priority;
WHEREAS, the City's 2012 Comprehensive Plan supports economic development and
promotes quality, affordable, accessible rental and ownership housing for the benefit of elderly citizens
in the City of Fort Worth; and
WHEREAS, no development funding is currently available due to budgetary constraints and,
despite reasonable efforts, the City has been unable to identify and secure any such funding for support
of the development.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
1. The City of Fort Worth supports the application of The Reserve at
McAlister, LLC to the Texas Department of Housing and Community Affairs for 2013
Housing Tax Credits for the purpose of developing the Reserve at McAlister for senior
rental housing.
2. The proposed development is consistent with the City's affordable housing
strategies and the City's Comprehensive Plan.
Adopted this 19th day of February, 2013.
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City of Fort Worth, Texas
Mayor and Council Communication
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DATE: Tuesday, February 19, 2013 REFERENCE NO.: **C-26101
LOG NAME: 17RESERVEATMCALISTERRESOLUTION
SUBJECT:
Adopt Resolution Supporting the 2013 Housing Tax Credit Application for the Reserve at McAlister, a
Proposed Senior Multifamily Development to be Located North of McAlister Road, South of FM 1187 and
West of Interstate Highway 35 South, and Authorize Waiver of Certain Development Fees (COUNCIL
DISTRICT 6)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached Resolution supporting the 2013 Housing Tax Credit application to the Texas
Department of Housing and Community Affairs for the Reserve at McAlister, a proposed senior multifamily
development to be located north of McAlister Road, south of FM 1187 and west of Interstate Highway 35
South;
2. Authorize the waiver of the following City fees that would otherwise be charged to the developers: (i) all
building permit, plan review, inspection, and re-inspection fees, (ii) all zoning fees, (iii) all temporary
encroachment fees, (iv) all platting fees, and (v) all fire, sprinkler and alarm permit fees; and
3. Find that the waiver of such fees serves the public purpose of supporting economic development and
benefitting low to moderate income elderly citizens by providing them with quality, affordable, accessible
housing.
DISCUSSION:
MV Residential Land, LLC (Developer), a subsidiary of the Miller Valentine Group, is submitting an
application for 2013 Housing Tax Credits (HTC) to the Texas Department of Housing and Community
Affairs (TDHCA) for the Reserve at McAlister (Development). The Developer will form an affiliated entity,
Reserve at McAlister, LLC, for the Development. The Development will be located on approximately
seven acres north of McAlister Road, south of FM 1187 and west of Interstate Highway 35W South. The
Development will have approximately 124 units that would be affordable to individuals or households
earning at or below 60 percent of Area Median Income. The Development would be set aside specifically
for seniors.
TDHCA awards up to seven points to developments that demonstrate support from the local governing
body. In order for the HTC application to be competitive, Staff recommends City Council approve the
attached Resolution supporting the application for tax credits for the Reserve at McAlister since it will
assist the City in fulfilling its goals under its Consolidated Plan and Comprehensive Plan by supporting
economic development and providing quality, accessible, affordable housing for elderly residents.
Staff also recommends that any building permit, plan review, inspection, re-inspection, zoning, temporary
encroachment, platting, fire, sprinkler, and alarm permit fees be waived for the Development if it receives
Logname: 17RESERVEATMCALISTERRESOLUTION Pagel of 2
a Housing Tax Credit award from TDHCA. These fee waivers are an appropriate tool that will serve the
public purpose of promoting economic development and providing affordable housing to low and moderate
income City citizens. Because construction of the Development will be overseen through the permitting
processes outlined in the City Code, Staff has adequate controls in place to ensure that this public
purpose is carried out.
All other fees charge or assessed by the City including but not limited to any water, sewer and
transportation impact fees must be paid. The deadline for HTC applications to the TDHCA is March 1,
2013. City fees will be waived for this Development only if it receives an award of tax credits from the
TDHCA.
The Development is located in COUNCIL DISTRICT 6.
FISCAL INFORMATION /CERTIFICATION:
The Financial Management Services Director certifies that this action will have no material effect on City
funds.
FUND CENTERS:
TO F u nd/Accou nt/C enters FROM F u nd/Accou nt/C enters
CERTIFICATIONS:
Submitted for City Manager's Office by: Fernando Costa (6122)
Originating Department Head: Jay Chapa (5804)
Cynthia Garcia (8187)
Additional Information Contact: Avis F. Chaisson (6342)
Logname: 17RESERVEATMCALISTERRESOLUTION Page 2 of 2