HomeMy WebLinkAboutResolution 5831-10-2023 A Resolution
NO. 5831-10-2023
A RESOLUTION OF NO OBJECTION TO SUPPORT A
HOUSING TAX CREDIT APPLICATION FOR THE
DEVELOPMENT OF COLUMBIA RENAISSANCE SQUARE
III, ACKNOWLEDGE THAT THE DEVLEOPMENT IS
LOCATED WITHIN ON LINEAR MILE OR LESS FROM A
HOUSING TAX CREDIT DEVELOPMENT THAT SERVES
THE SAME TARGET POPULATION, AND ACKNOWLEDGE
THAT THE DEVELOPMENT IS LOCATED IN A CENSUS
TRACT THAT HAS MORE THAN 20% HOUSING TAX
CREDIT UNITS PER TOTAL HOUSEHOLD
WHEREAS, the City of Fort Worth's 2023 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 2023-2027 Consolidated Plan makes the
development of quality, affordable, accessible rental housing units for the City's low-
income residents a high priority;
WHEREAS, Columbia Renaissance Square III, L.P. an affiliate of Columbia
Residential Communities, LLC., has proposed the new construction of a 100-unit
multifamily affordable rental housing development named Columbia Renaissance Square
III, located at 2757 Moresby Street in the City of Fort Worth, which will provide units
affordable to households with incomes at or below sixty percent (60%) of Area Median
Income and thirty percent(30%) of Area Median Income;
WHEREAS, Columbia Renaissance Square III, L.P. has advised the City that it
intends to submit an application to the Texas Department of Housing and Community
Affairs ("TDHCA") (TDHCA Application No.) for 2023 Non-Competitive (4%)Housing
Tax Credits to finance a portion of the costs of development;
WHEREAS, TDHCA's 2023 Qualified Allocation Plan ("QAP") states that the
governing body of the appropriate municipality where the developer is to be location must
by vote specifically to allow the construction of a new development located within one (1)
linear mile or less from a development which serves the same target population; and
WHEREAS, the QAP also states that applications for developments that will be
located in a census tract with more than twenty percent (20%) Housing Tax Credit units per
total households as established by the five(5)year American Community Survey are ineligible
for Housing Tax Credits unless the governing body of the jurisdiction in which the
development will be located states that it has no objection to the application, and that the
governing body must also submit a resolution to TDHCA stating that the proposed
development is consistent with the jurisdiction's obligation to affirmatively further fair
housing.
NOW, THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS, THAT:
1. Notice of intent to file an application for Non-Competitive (4%) Housing Tax
Credits for the development of Columbia Renaissance Square III has been
provided to the City Council by Columbia Renaissance Square III, L.P. 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
Columbia Renaissance Square III, L.P. 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. The City of Fort Worth, acting through its City Council, additional confirms that
Columbia Renaissance Square III is located in a Neighborhood Empowerment Zone
(NEZ). Accordingly, development fees will be waived pursuant to the NEZ Policy,
which such waiver being an amount of no less than $500.00, 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 housings in accordance with the City's
Comprehensive Plan and Action Plan, and that adequate controls are in please
through the City's Neighborhood Services Department to carry out such public
purpose.
5. The City of Fort Worth, acting through its City Council, acknowledges that
Columbia Renaissance Square III is located one (1) linear mile or less from a
development that serves the same target population as the proposed Columbia
Renaissance Square III and received an allocation of Housing Tax Credits for new
construction or adaptive reuse within the previous three years and this formal action
has been taken to put on record the opinion expressed by the City Council of the
City of Fort Worth to authorize the development to move forward.
6. The City of Fort Worth, acting through its City Council, acknowledges that
Columbia Renaissance Square III will be located in a census tract that has more than
twenty percent (20%) Housing Tax Credit units per total households, that the City
Council has no objection to the construction to the construction of the development,
that it has determined that the development is consistent with the City's obligation
to affirmatively further fair housing, 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.
7. After due consideration of the information provided by Columbia Renaissance
Square III, L.P. and any public comment on the proposed development,the
City Council does not object to the application of Columbia Renaissance
Square III, L.P. to the TDHCA for 2023 Non-Competitive (4%) Housing Tax
Credits for the purpose of the development of Columbia Renaissance Square
III.
Adopted this 17t" day of October 2023.
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 10/17/23 M&C FILE NUMBER: M&C 23-0864
LOG NAME: 19COLUMBIARENAISSANCESQUAREI114%HTCRESOLUTION
SUBJECT
(CD 8) Conduct a Public Hearing on the Application by Columbia Renaissance Square III, L.P. to the Texas Department of Housing and
Community Affairs for Non-Competitive (4%) Housing Tax Credits for the New Construction of Columbia Renaissance Square Phase III, a
Proposed Tax-Exempt Development Located at 2757 Moresby St. Fort Worth,TX 76105,Adopt a Resolution of No Objection to the Application,
Make Related Determinations,Acknowledge the One-Mile Three Year Rule,and Acknowledge the Development is Located in a Census Tract that
has More than 20 Percent Housing Tax Credit Units per Total Households
(PUBLIC HEARING-a. Report of City Staff: Dyan Anderson; b.Citizen Presentations;c.Council Action: Close Public Hearing and Act on M&C)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public hearing to allow citizen comment on the application of Columbia Renaissance Square III, L.P.to the Texas Department of
Housing and Community Affairs for 2023 Non-Competitive (4%) Housing Tax Credits for the proposed development of Columbia
Renaissance Square Phase III,a multifamily affordable rental housing development, located at 2757 Moresby Street, Fort Worth,TX 76105;
2. Adopt the attached Resolution of No Objection to the application;
3. Determine that the development of Columbia Renaissance Square Phase III as proposed is consistent with the City's obligation to
affirmatively further fair housing;
4. Acknowledge that Columbia Renaissance Square Phase III is located within one linear mile or less from developments that serve the same
target population and previously received an allocation of Housing Tax Credits for new construction;and
5. Acknowledge that Columbia Renaissance Square Phase III is located in a census tract that has more than 20 percent Housing Tax Credit
units per total households and authorize this devleopment to move forward with its application for tax credits.
- _ -- - - -------_ - -_
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C)is to take actions in accordance with state law-and City policy on an application for
tax credits on the new construction of an affordable housing development.
Columbia Renaissance Square III, L.P. (Developer) has advised the City that it intends to apply to the Texas Department of Housing and
Community Affairs (TDHCA)for 2023 Non-Competitive (4%) Housing Tax Credits for the new construction of Columbia Renaissance Square
j Phase III,a multifamily affordable rental housing development.The Developer has requested a Resolution of No Objection from the City Council.
TDHCA will not award 4%Housing Tax Credits(Housing Tax Credits)to an applicant unless they provide a Resolution of No Objection from the
governing body of the jurisdiction in which the development is to be located.State law requires that the governing body conduct a public hearing for
citizens to provide comment on the proposed development—regardless of whether the governing body intends to issue a resolution.
Columbia Renaissance Square Phase III will consist of approximately 100 units.55 units are reserved for households earning 60 percent or less of
Area Median Income (AMI), and 25 Permanent Supportive Housing (PSH) units will be set aside for households exiting homelessness. The
development will consist of one-,two-,and three-bedroom units with amenities including a community/club room,business center, laundry facilities,
fitness center,and landscaped courtyards.The development is adjacent to the assets of Renaissance Square,which include over 200,000 square
feet of retail, Cook's Children's Primary Care Clinic, Uplift Mighty Charter School--where families will receive priority enrollment, and the YMCA
multiuse facility--where famlies will receive free membership and access to early childhood education. It is in close proximity to U.S. Route 287,
which connects to the greater Dallas-Fort Worth area.
The development is compliant with zoning codes,however, a zoning change will be requested from medium density multi-family to high density
multi-family allowing more flexibility with open space requirements.
Columbia Renaissance Square III, L.P. is an affiliate of Columbia Residential Communitites, LLC.The previous two phases in the development
were completed in 2017 and 2020 offering 140 units of family housing and 120 units of senior housing. Once Phase III is completed,the Developer
will have brought a total of 360 units of housing to Southeast Fort Worth.They are working closely with Renaissance Heights Foundation,the
purpose-built organization leading the revitalization of Renaissance Heights.
On November 8,2022,City Council adopted an updated housing tax credit policy(M&C 22-0924)that outlines the requirements for an applicant to
receive a Resolution of No Objection for a 4% housing tax credit development.The policy requires that the councilmember who represents the
district in which the development will be located be notified as well as the superintendent of the school district in which the development is located
and lastly, any registered neighborhood or homeowner's association(s)with boundaries that are within one-quarter mile of the proposed
development. In addition, at least one public meeting must be held for the affected registered neighborhood association(s), if any, prior to
submission of a resolution application. Columbia Renaissance Square III, L.P. properly notified Councilmember Chris Nettles (CD 8)and Fort
Worth Superintendent,Angelica Ramsey.The developer held a community meeting with the New Mitchell Blvd Neighborhood Association and the
Glencrest Civic League Neighborhood Association.
TDHCA rules state that if a proposed development will be located within one linear mile or less from other developments that serve the same
target population and which received an allocation of Housing Tax Credits for new construction, it will be ineligible for Housing Tax Credits unless
the governing body of the jurisdiction in which the proposed development is to be location has no objection to the application and also submits
Resolution to TDHCA stating that the proposed development is consistent with the jurisdiction's federal obligation to affirmatively further fair
housing. Columbia Renaissance Square Phase III will be located within one mile of another tax credit property serving the same population. By
approval of this M&C and related resolution,City Council affirms that it has no objection to the development.
TDHCA rules also state that if a proposed development will be located in a census tract with more than 20 percent Housing Tax Credit units per
total households, as established by the five-year American Community Survey, it will be ineligible for tax credits unless the governing body of the
jurisdiction votes to specifically allow it and also submits a Resolution to TDHCA stating that the proposed development is consistent with the
jurdisdiction's federal obligation to further fair housing.Columbia Renaissance Square Phase III will be located in a census tract in which more than
20 percent of the total households are Housing Tax Credit units.Staff recommends that City Council vote to specifically allow this development and
approve the additional determination in the attached Resolution of No Objection that it is consistent with the City's obligation to affirmatively further
fair housing.
Columbia Renaissance Square Phase III is located in Neighborhood Empowerment Zone(NEZ)6.Accordingly,development fees will be waived
pursuant to the NEZ policy,which such waiver being in an amount of no less than$500.00.
The affordability requirements for the development will be ensured through various contracts and documents from TDHCA,which will require the
maintenance of affordability for an additional thirty years. Depending on the lender chosen for this development, additional affordability
requirements may also apply. Approval of this M&C also represents Council's determination that the TDHCA's affordability requirements and
documents are sufficient to ensure the public purpose of housing affordability is carried out.
Following the close of the public hearing, Staff requests that the City Council consider the attached Resolution of No Objection, including all related
acknowledgements included therein,to support of the application for 2023 Non-Competitive (4%) Housing Tax Credits for the proposed new
construction of Columbia Renaissance Square Phase III. Providing this development as a quality and affordable housing option will assist the City
in fulfilling its goals under its Consolidated Plan and Comprehensive Plan, and in fulfilling its obligation to Affirmatively Further Fair Housing by
providing quality,accessible,affordable housing for low-to moderate-income residents and supporting economic development and revitalization.
This development is located in COUNCIL DISTRICT 8.
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 the above recommendations will have no material effect on the Fiscal Year 2024 Budget.While
no current year impact is anticipated from this action,any effect on expenditures and revenues will be budgeted in future Fiscal Years.
Submitted for City Manager's Office by: Fernando Costa 6122
Originating Business Unit Head: Victor Turner 8187
Additional Information Contact: Victor Turner 8187
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