HomeMy WebLinkAbout6299-04-2026 - City Council - ResolutionA Resolution
NO. 6299-04-2026
A RESOLUTION OF NO OBJECTION FOR A HOUSING TAX CREDIT APPLICATION FOR
RICHARDSON RIDGE
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, Richardson Ridge Limited Partnership has proposed the new construction of a 228-unit
multifamily affordable rental housing development located at 4000 Campus Drive, Fort Worth, Texas 76119, which
will provide units affordable to households with incomes at or below sixty percent (60%) of Area Median
Income; and
WHEREAS, Richardson Ridge Limited Partnership, has advised the City that it intends to submit an
application to the Texas Department of Housing and Community Affairs ("TDHCA") for Non -Competitive
(4%) Housing Tax Credits 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:
Notice of intent to file an application for Non -Competitive (4%) Housing Tax Credits for the new
construction of Richardson Ridge has been provided to the City Council by Richardson Ridge Limited
Partnership, 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 Richardson Ridge Limited
Partnership regarding any questions or concerns about the proposed development.
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 Richardson Ridge, and any public comment on
the proposed development, the City Council does not object to the application of Richardson Ridge
Limited Partnership, to the TDHCA for Non -Competitive (4%) Housing Tax Credits for the purpose of
the construction of Richardson Ridge.
Adopted this 28th day of April 2026.
ATTEST:
Jannette S. Goodall, City Secretary
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 04/28/26 M&C FILE NUMBER: M&C 26-0319
LOG NAME: 19RICHARDSONRIDGE4%HTCRESOLUTION
SUBJECT
(CD 8) Conduct Public Hearing on the Application by Richardson Ridge Limited Partnership to the Texas Department of Housing and Community
Affairs for Non -Competitive (4%) Housing Tax Credits for the Construction of a 228-Unit Affordable Housing Multifamily Development, Richardson
Ridge, to be Located at 4000 Campus Drive, Fort Worth, TX 76119; Adopt a Resolution of No Objection to the Application; Approve Commitment
of Development Funding in the Form of Fee Waivers in an Amount of No Less than $500.00 and No More than $30,000.00; Find that the Fee
Waivers Serve a Public Purpose, and Adequate Controls are in Place to Carry Out Such Public Purpose; and Determine that Construction of the
Proposed Development is Consistent with the City's Obligation, if Any, to Affirmatively Further Fair Housing
(PUBLIC HEARING - a. Staff Available for Questions: Dyan Anderson; b. Public Comment; 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 Richardson Ridge Limited Partnership to the Texas Department of
Housing and Community Affairs for Non -Competitive (4%) Housing Tax Credits for the construction of Richardson Ridge, a 228-
unit affordable multifamily development located at 4000 Campus Drive, Fort Worth, TX 76119;
2. Adopt the attached Resolution of No Objection; and
3. Determine that construction of the development as proposed is consistent with the City's obligation, if any, to affirmatively further fair housing.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to take actions in accordance with state law and City policy regarding an
application for housing tax credits for the new construction of an affordable housing development.
Richardson Ridge Limited Partnership (Developer) has advised the City that it intends to apply to the Texas Department of Housing and
Community Affairs (TDHCA) for Non -Competitive (4%) Housing Tax Credits (HTC) for the new construction of a proposed multifamily affordable
rental housing development, Richardson Ridge, located at 4000 Campus Drive (Development) The Developer has requested a Resolution of No
Objection from the City Council. TDHCA will not award 4% 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 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.
The Development will consist of 228 one, two, three, and four -bedroom units reserved for households earning 70 percent or less of Area Median
Income (AMI). Amenities will include a pool, dog park, grills, green space, on -site resident services, and safety features such as controlled -access
gates and security cameras; units will feature LVT flooring, Energy Star appliances, washer -dryer hookups and ceiling fans. The Development will
be located near retail, groceries, parks, public transit, and has nearby access to Mansfield Highway/Business 287 that connects to the greater
Dallas -Fort Worth area. The proposed site is currently zoned E Neighborhood Commercial, and the Development should not require a zoning
change. The proposed site's future land use designation is Neighborhood Commercial according to the City's adopted Comprehensive Plan.
Richardson Ridge Limited Partnership is an affiliate of Woda Cooper Companies, an experienced affordable housing developer, whose $3 billion
portfolio consists of over 150 mixed -income multifamily properties throughout 18 states.
On November 11, 2025, through M&C 25-1035, City Council adopted an updated housing tax credit policy (Policy) that outlines the requirements
for an applicant to receive a Resolution of No Objection for a 4% HTC 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
sited and any registered neighborhood or homeowner's association(s) with boundaries that are within one-half mile of the 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. The Developer complied with all requirements of the Policy by taking the following actions: (1) notified Councilmember Chris
Nettles (Council District 8), (2) notified Fort Worth superintendent, Dr. Karen Molinar, (3) notified the three registered community organizations
located within a half -mile of the Development, and (4) conducted information sessions with these groups virtually and in -person.
Commitment of Development Fundina
The proposed Development is located in a Neighborhood Empowerment Zone (NEZ). Accordingly, development fees for the project will be
waived pursuant to the City's NEZ policy, with such waiver serving as the City's Commitment of Development Funding and being in an amount of
no less than $500.00. Developer must apply for all development fee waivers through the NEZ program.
The affordability requirements for the Development will be ensured through various contracts and documents from TDHCA that will require the
maintenance of affordability for a minimum of 30 years. Depending on the lender chosen for this Development, additional affordability
requirements may also apply. Approval of this M&C represents Council's finding 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 allow for the application for Non -Competitive (4%) Housing Tax Credits for the proposed construction of the
Development. 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, if any, 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 and NEZ Area Six.
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 Citv Manaaer's Office bv: Dana Burghdoff 8018
Oriainatina Business Unit Head: Kacey Thomas 8187
Additional Information Contact: Dyan Anderson 7398