HomeMy WebLinkAbout(0056) GalaAtRidgmarResol.pdfA Resolution
NO.
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
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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 22nd day of February, 2022.
ATTEST:
By:
Jannette Goodall, City Secretary
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