HomeMy WebLinkAboutResolution 4418-02-2015 A Resolution
NO. 4418-02-2015
DETERMINING THAT THE COLUMBIA AT RENAISSANCE SQUARE AFFORDABLE
HOUSING DEVELOPMENT SIGNIFICANTLY CONTRIBUTES TO THE REVITALIZATION
EFFORTS OF THE CITY OF FORT WORTH
WHEREAS, the City's 2014 Comprehensive Plan is supportive of the preservation,
improvement, and development of quality, affordable, accessible rental and ownership housing;
WHEREAS, the City's 2013-2018 Consolidated Plan makes the development of quality,
affordable, accessible rental housing units for low income residents of the City a high priority;
WHEREAS, Columbia Renaissance Square I, L.P., has proposed a development for affordable
multifamily rental housing named Columbia at Renaissance Square to be located at 3801 W. G. Daniels
Drive in the City of Fort Worth in the Berry Hill-Mason Heights Neighborhood Empowerment Zone;
WHEREAS, Columbia Renaissance Square I, L.P. has advised the City that it intends to submit
an application to the Texas Department of Housing and Community Affairs ("TDHCA") for 2015
Competitive (9%) Housing Tax Credits for the Columbia at Renaissance Square, a new approximately
140-unit complex;
WHEREAS, the City adopted the Berry Hill-Mason Heights Strategic Plan and Berry Hill-
Mason Heights Neighborhood Empowerment Zone on March 27, 2007 after an extensive public
comment process and supports the ongoing development of that revitalization area;
WHEREAS, TDHCA's 2015 Qualified Allocation Plan (QAP) and Section 11.9(d) of the Texas
Administrative Code provide that an application for Competitive Housing Tax Credits may qualify for
two (2) points for a resolution from a city government confirming that one particular tax credit project
contributes "most significantly to the concerted revitalization efforts of the city"; and
WHEREAS, the City of Fort Worth has determined that the application for Columbia at
Renaissance Square submitted to TDHCA by Columbia Renaissance Square I, L.P. qualifies as the
development contributing most significantly to the concerted revitalization efforts of the City of Fort
Worth.
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 identifies Columbia at
Renaissance Square (TDHCA Application No. 15135) as the development in the 2015 Competitive (9%)
Housing Tax Credit application round that contributes most significantly to the concerted revitalization
ORT WORT
Resolution No.4418-02-2015
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 identifies Columbia at
Renaissance Square (TDHCA Application No. 15135) as the development in the 2015 Competitive(9%)
Housing Tax Credit application round that contributes most significantly to the concerted revitalization
efforts of the City of Fort Worth, specifically the City's revitalization efforts in the Berry Hill-Mason
Heights Neighborhood Empowerment Zone, 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.
Adopted this 17th day of February, 2015. a��a®��°�° OR?" a
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 2/17/2015 - Resolution No. 4418-02-2015
DATE: Tuesday, February 17, 2015 REFERENCE NO.: C-27196
LOG NAME: 17COLUMBIAATRENSQUARECRPRESOLUTION2015
SUBJECT:
Adopt Resolution Determining that the Columbia at Renaissance Square Affordable Housing Development
to be Located at 3801 W.G. Daniels Drive Significantly Contributes to the City's Revitalization Efforts in the
Berry Hill-Mason Heights Neighborhood Empowerment Zone and Supporting the Application by Columbia
Renaissance Square I, LP, to the Texas Department of Housing and Community Affairs for Low-Income
Housing Tax Credits to Fund This Project (COUNCIL DISTRICT 8)
RECOMMENDATION:
It is recommended that the City Council adopt the attached resolution determining that the Columbia at
Renaissance Square affordable housing development to be located at 3801 W.G. Daniels Drive
significantly contributes to the City's revitalization efforts in the Berry Hill-Mason Heights Neighborhood
Empowerment Zone and supporting the application by Columbia Renaissance Square I, LP, to the Texas
Department of Housing and Community Affairs for low-income housing tax credits to fund this project.
DISCUSSION:
On February 18, 2014, the City Council approved local funding of $1,200,000.00 of the City's HOME
Investment Partnerships Program grant funds to Columbia Renaissance Square I, L.P., the developer
of the Columbia at Renaissance Square, an approximately 140-unit affordable multifamily housing
development to be located at 3801 W.G. Daniels Drive. This approval was conditioned on the
development being awarded Housing Tax Credits by the Texas Department of Housing and Community
Affairs (TDHCA) and was subject to further negotiation of loan terms with the developer. The City Council
at the same time adopted a Resolution of Support for the developer's application to the TDHCA for
Competitive (9%) Housing Tax Credits (9% HTC) as part of the financing for the development (M&C C-
26671, Resolution No. 4298-02-2014). On March 25, 2014, City Council approved an additional resolution
determining that the development, to be located in the Berry Hill-Mason Heights Neighborhood
Empowerment Zone (NEZ), would significantly contribute to the City's revitalization efforts (M&C C-26725,
Resolution No. 4307-03-2014). The development was not awarded tax credits by TDHCA in the 2014
round, but the developer is now applying to TDHCA for 2015 9% HTC and has requested the City's
support for its current application.
TDHCA uses the scoring criteria set out in its annual Qualified Allocation Plan (QAP) in evaluating and
ranking applications for 9% HTC. The 2015 QAP and 10 Texas Administrative Code §11.9(d) of the
TDHCA rules governing the Competitive HTC Program state that applications can receive additional
points if the proposed development is located in an area that has an adopted Community Revitalization
Plan. Additionally, points can be awarded for proposed developments that receive a resolution from the
local political jurisdiction stating that the development contributes significantly to the overall revitalization
efforts of the political jurisdiction and the adopted Community Revitalization Plan.
The Berry Hill-Mason Heights NEZ and strategic plan was adopted by the City Council in 2007 and the
proposed development will be located in this NEZ. Staff determined that the development will significantly
Logname: 17COLUMBIAATRENSQUARECRPRESOLUTION2015 Page 1 of 2
contribute to the City's overall revitalization efforts because it will provide increased density to support the
recently completed retail and office development at the Shoppes at Renaissance Square located in the
NEZ. Staff recommends that City Council adopt the attached resolution determining that the Columbia at
Renaissance Square development significantly contributes to the concerted revitalization efforts of the City
of Fort Worth, specifically that the development will significantly contribute to the revitalization efforts
underway in the Berry Hill-Mason Heights NEZ. The site for the proposed development is zoned
"PD#916".
The proposed development is located in COUNCIL DISTRICT 8, Mapsco 78X.
FISCAL INFORMATION /CERTIFICATION:
The Financial Management Services Director certifies that this action will have no material effect on City
funds.
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
CERTIFICATIONS:
Submitted for City Manager's Office by: Fernando Costa (6122)
Originating Department Head: Jay Chapa (5804)
Cynthia Garcia (8187)
Additional Information Contact: Sarah Odle (7316)
Logname: 17COLUMBIAATRENSQUARECRPRESOLUTION2015 Page 2 of 2