HomeMy WebLinkAbout(0147) Resolution_Palladium East_FINAL.pdfA Resolution
NO.
A RESOLUTION OF NO OBJECTION TO SUPPORT A HOUSING TAX CREDIT
APPLICATION FOR THE DEVELOPMENT OF PALLADIUM EAST BERRY STREET
AND ACKNOWLEDGEMENT THAT THE DEVELOPMENT IS LOCATED IN A
CENSUS TRACT THAT HAS MORE THAN 20% HOUSING TAX CREDIT UNITS PER
TOTAL HOUSEHOLDS
WHEREAS, the City of Fort Worth's 2021 Comprehensive Plan is supportive of the
preservation, improvement, and development of quality, affordable, accessible rental and
ownership housing;
WHEREAS, the City of Fort Worth's 2018-2022 Consolidated Plan makes the
development of quality, affordable, accessible rental housing units for the City's low-income
residents a high priority;
WHEREAS, Palladium East Berry, Ltd., a Texas limited partnership ("Applicant") and an
affiliate of Palladium USA, Inc., has proposed the development of an approximately 240-unit
multifamily affordable rental housing development named Palladium East Berry Street, located at
2350 East Berry Street, Fort Worth, 76105, which will include units affordable to households with
incomes at or below sixty percent (60%) of Area Median Income and units affordable to
households with incomes at or below thirty percent (30%) of Area Median Income; and
WHEREAS, Applicant has advised the City that it submitted an application to the Texas
Department of Housing and Community Affairs ("TDHCA") TDHCA Application No. 22610 for
2022 Non -Competitive (4%) Housing Tax Credits and to finance a portion of the costs of
development.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF FORT WORTH, TEXAS, THAT:
1. Notice of intent to file TDHCA Application No. 22610 for Non -Competitive (4%)
Housing Tax Credits for the development of Palladium East Berry Street has been
provided to the City Council by Applicant in accordance with Section 2306.67071(a)
of the Texas Government Code.
2. The City Council has had sufficient opportunity to obtain a response from Applicant
regarding any questions or concerns about the proposed development.
3. The City Council has held a hearing for the purpose of receiving public comment on
the proposed development in accordance with Section 2306.67071(b) of the Texas
Government Code.
4. After due consideration of the information provided by Applicant and any public
comment on the proposed development, the City Council does not object to the
application of Applicant to the TDHCA for 2022 Non -Competitive (4%) Housing Tax
Credits for the purpose of the development of Palladium East Berry Street.
5. That as provided for in 10 TAC §11.3(e) and §11.4(c)(1), it is hereby acknowledged
that the proposed new construction of Palladium East Berry Street is located in a census
tract that has more than 20% Housing Tax Credit Units per total households.
6. That the City Council finds that the proposed Palladium East Berry Street development
is consistent with the jurisdiction's obligation to affirmatively further fair housing, and
Adopted this 291h day of March, 2022.
ATTEST:
By:
Jannette S. Goodall, City Secretary