HomeMy WebLinkAboutResolution 5533-02-2022 A Resolution
NO. 5533-02-2022
SUPPORTING A HOUSING TAX CREDIT APPLICATION FOR GALA AT RIDGMAR AND
COMMITTING DEVELOPMENT FUNDING
WHEREAS,the City's 2021 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, Gala at Ridgmar, LP, an affiliate of Gardner Capital, has proposed a development
for affordable senior multifamily rental housing named Gala at Ridgmar to be located at the northeast
corner of Plaza Parkway and Lands End Boulevard in the City of Fort Worth;
WHEREAS, Gala at Ridgmar, LP has advised the City that it intends to submit an application to
the Texas Department of Housing and Community Affairs ("TDHCA") for 2022 Competitive (9%)
Housing Tax Credits for the Gala at Ridgmar 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% of Area Median Income and at least ten percent (10%) of the total units will be set aside for
households earning above 70% of Area Median Income;
WHEREAS, TDHCA's 2022 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 Gala at Ridgmar, LP to the Texas Department of Housing and Community Affairs for 2022
Competitive (9%) Housing Tax Credits for the purpose of the development of the Gala at Ridgmar
apartments to be located at the northeast corner of Plaza Parkway and Lands End Boulevard (TDHCA
Application No. 22251), 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 Gala at Ridgmar, 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,
Gala at Ridgmar, LP.
Adopted this 22"d day of February, 2022.
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By; Jan nette S.Goodall(Feb 23,202214:33 CST) v =�
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®Copyright 2017 City of Fort Worth.Unauthorised reproduction is a violation of applicable lews.This product Is for
0 0.05 0.1 Miles informational purposes and may not have been prepared for or suitable for legal,engineering,or surveying purposes.
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The City of Fort Worth assumes no responsibility for the accuracy of said date.
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 02/22/22 M&C FILE NUMBER: M&C 22-0114
LOG NAME: 192022HTC
SUBJECT
(CD 3)Consider and Adopt a Resolution of Support for the Gala at Ridgmar 2022 Competitive Housing Tax Credit Application,Approve a
Commitment of Development Funding in the Form of Fee Waivers, and Make Related Determinations
RECOMMENDATION:
It is recommended that the City Council:
1. Acknowledge the receipt of a request for City of Fort Worth support of an application to the Texas Department of Housing and Community
Affairs for 2022 Competitive(9%)Housing Tax Credits from Gala at Ridgmar, LP, an affiliate of Gardner Capital;
2. Consider and adopt the attached Resolution of Support for an application for 2022 Competitive(9%) Housing Tax Credits for the Gala at
Ridgmar; and
3. Approve fee waivers in an amount not to exceed$2,500.00 as the City's commitment of development funding for the Gala at Ridgmar,find
that the fee waivers for this development serves the public purpose of providing quality, accessible,affordable housing for low-to moderate-
income households in accordance with the City's Comprehensive Plan and Annual Action Plan, and find that adequate controls are in place
through the Neighborhood Services Department to carry out such public purpose.
DISCUSSION:
On November 9, 2021,the City Council adopted a policy for City of Fort Worth (City)support of applications to the Texas Department of Housing
and Community Affairs(TDHCA)for Noncompetitive(4%)and Competitive(9%) Housing Tax Credits and for City commitments of development
funding, (Mayor and Council Communication 21-0845).This year the City is considering only one application for proposed 9% housing tax
credits:
Gala at Ridgmar to be developed by Gala at Ridgmar, LP, an affiliate of Gardner Capital,to be located at 2201-2203 Lands End Blvd (Council
District 3).The site for the proposed development is zoned"MU-1"-Low Intensity Mixed-Use.The proposed development will not be tax exempt.
Resolution of Support and Local Development Funding_
Staff requests that City Council consider and adopt a Resolution of Support for the Gala at Ridgmar as it has met the unit set-aside criteria and
notification requirements outlined in the City's policy.Additionally,this development is located in close proximity to jobs, retail,transit and
services.The Gala at Ridgmar is also recommended to receive a local Commitment of Development Funding.
Commitment of Development Funding_
The policy allows for a local commitment of development funding at City Council discretion.This commitment of development funding qualifies tax
credit applicants for an additional point and increases the competitiveness of their applications to TDHCA. Staff requests that City Council
approve a commitment of development funding in the form of fee waivers in an amount not to exceed$2,500.00 for the Gala at Ridgmar.The fee
waiver amount may be applied to(i)building permit related fees(including Plan Reviews, Inspections and Re-inspection Fees); (ii) Plat/Replat
Application Fees; (iii) Board of Adjustment Application Fees; (iv) Demolition Fees; (v)Structure Moving Fees; (vi)Zoning Fees; (vii)Street/Alley
and Utility Easement Vacation Application Fees; (viii)Temporary Encroachment Fees; (ix)Consent/Encroachment Agreement Application Fees;
(x) Urban Forestry Application Fees; (xi)Sign Permit Fees; (xii)Community Facilities Agreement(CFA)Application Fees; and (xiii)Street
Closure Fees.
Fee waivers will be conditioned upon the applicant receiving an award of tax credits from TDHCA for the affordable housing development,and
the City's Neighborhood Services Department will be responsible for verifying that the public purpose for the fee waivers is carried out.The City
Council finds that the conditions required by TDHCA for award of tax credits as well as staff review are sufficient to ensure that the public purpose
is carried out. Upon approval, permitting and related fees will be waived in an amount up to$2,500.00 to assist in facilitating the goals of the
City's Comprehensive Plan and Annual Action Plan.
The Gala at Ridgmar is subject to all applicable City laws, ordinances, policies and procedures including those pertaining to zoning changes and
annexation.Council member support for purposes of approving this Resolution does not constitute approval of any required zoning change or
annexation.
The proposed development is located in COUNCIL DISTRICT 3.
A Form 1295 is not required because:This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that approval of these recommendations will have no material effect on City funds.
Submitted for City Manager's Office W. Fernando Costa 6122
Originating Business Unit Head: Victor Turner 8187
Amy Connolly 7556
Additional Information Contact: Chad LaRoque 2661
Leah Brown 8638
Expedited