HomeMy WebLinkAboutIR 8544 INFORMAL REPORT TO CITY COUNCIL MEMBERS NO. 8544
Date: 11118103
To the Mayor and Members of the City Council
Page 1 of 1
SUBJECT: Status of Pre-Applications For Private Activity Bonds
The purpose of this Informal Report is to provide City Council with the results of pre-applications submitted
to the Texas Department of Housing and Community Affairs (TDHCA) and Tarrant County Housing Finance
Corporation (TCHFC) for private activity bonds.
Thirteen applications were submitted for Fort Worth projects, six to TDHCA and seven to TCHFC. As of this
date, only one Fort Worth project has funds reserved. This proposed project is Sycamore Place Apartments,
248 units, to be located on the corner of Westpoint Boulevard and Chapel Creek Road in Council District 7.
Its application was submitted to the County.
The total amount available for multifamily projects through TDHCA is $73,311,120. This amount will only
fund six projects statewide. TDHCA received 44 requests totaling $611,000,000.
Tarrant County is located in Region Three, which has $67,534,203 for locally issued bonds for multifamily
projects. This amount will only fund three projects in the region. Region Three, which covers the Dallas/Fort
Worth area, includes North Central Texas housing finance corporations. Forty-four projects requesting
;607,822,187 from various housing finance corporations in the region were ranked. Listed below is the
anking of each Fort Worth project for the state and Tarrant County.
Texas Department of Housing and Community Affairs Applications
• (17) Post Oak West Apartments — Council District 5
• (18) Post Oak East Apartments — Council District 5
• (19) Rosemont at Trinity Apartments- Council District 4
• (24) Rosemont at Shiver Apartments — Council District 2
• (26) Rosemont at Parkway Apartments — Council District 214
• (32) Rosemont at Cooks Lane Apartments— Council District 4
Tarrant County Housing Finance Corporation Applications
• (5) Sycamore Place Apartments—248 units, Council District 7
• (41)Aventine Tarrant Parkway— 250 units, Council District 2/4
• (64) Crossroads Apartments —280 units, Council District 2
• (67) City Parc at Golden Triangle — 264 units, Council District 2
• (134) City Parc at Oak Grove —280 units, Council District 8
• (205) Worthington Apartments — 248 units, Council District 6
• (218)Alexander Garden Apartments — 248 units, Council District 7
Staff will continue to monitor this process and keep City Council apprised of any changes.
ary J ck on
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS