On November 7, 2017, the City Council adopted a policy for City support of applications to the Texas Department of Housing and Community Affairs (TDHCA) for Noncompetitive (4%) and Competitive (9%) Housing Tax Credits and for City commitments of development funding (M&C G-19149). This year the City received five applications from developers requesting Resolutions of Support for proposed tax credit developments in Fort Worth. Staff has reviewed the applications for consistency with the City's policy.
Two applications, The Somerset at Golden Triangle (4315 Golden Triangle Boulevard, Council District 7) and The Terraces at Ohio Garden (4001 Ohio Garden Road, Council District 2) were withdrawn by the developer, Atlantic Pacific Communities.
Resolutions of Support:
Staff requests that the City Council consider and adopt Resolutions of Support for the following developments as they have met the unit set-aside criteria and notification requirements outlined in the policy. Additionally, all of these developments are located in close proximity to jobs, retail, transit and services.
Avenue at Sycamore Park to be developed by GFH Avenue at Sycamore Park, Ltd., an affiliate of Lakewood Property Management, LLC, to be located at 2601 Avenue J (Council District 8). The site for the proposed development is zoned A-5, proposed to be changed to PD - Planned Development for all uses in "D" High Density Multifamily.
Columbia Renaissance Square II Senior to be developed by Columbia Renaissance Square II, L.P., an affiliate of New Columbia Residential, LLC, to be located at the northwest corner of Moresby Street and W.G. Daniels Drive (Council District 8). The site for the proposed development is zoned PD - Planned Development for all uses in "D" High Density Multifamily.
Palladium Fain Street to be developed by Palladium Fain Street, Ltd., an affiliate of Palladium USA, to be located at the north side of Fain Street and west of Kings Highway (Council District 4) The site for the proposed development is zoned E - Neighborhood Commercial, proposed to be changed to PD - Planned Development for all uses in "D" High Density Multifamily.
Commitment of Development Funding:
The policy also allows a commitment of development funding at City Council discretion. This commitment of development funding qualifies tax credit applicants for an additional point and increases the competitiveness of their applications to TDHCA. Staff requests that City Council approve commitments of development funding in the form of fee waivers in an amount not to exceed $2,500.00 for each development recommended for a Resolution of Support. The fee waiver amount may be applied to (a) building permit related fees (including Plans Review, Inspections and Re−inspection Fees); (b) Plat/Replat Application Fees; (c) Board of Adjustment Application Fees; (d) Demolition Fees; (e) Structure Moving Fees; (f) Zoning Fees; (g) Street/Alley and Utility Easement Vacation Application Fees; (h) Temporary Encroachment Fees; (i) Consent/Encroachment Agreement Application Fees; (j) Urban Forestry Application Fees; (k) Sign Permit Fees; (l) Community Facilities Agreement (CFA) Application Fees; and (m) Street Closure Fees.
Fee waivers will be conditioned upon the development receiving an allocation of Housing Tax Credits from TDHCA. The City's Neighborhood Services Department will be responsible for verifying that the public purpose for the fee waivers is carried out.
Concerted Revitalization Plan:
TDHCA rules state that an application may receive additional points if the proposed development is identified in a resolution as contributing more than any other development to a city or county's concerted revitalization efforts. The City has created Neighborhood Empowerment Zones (NEZ) to promote affordable housing and economic development in the designated zone. All of the City's NEZs are included in the City's annual Comprehensive Plan as part of its goal of revitalizing central city neighborhoods and commercial districts (2017 Comprehensive Plan, Part III, Chapter 10: Economic Development). The Columbia Renaissance Square II Senior development is located in the Berry Hill-Mason Heights NEZ created by the City Council in 2007 along with a strategic plan for the area. The Palladium Fain Street development is located in the Riverside NEZ created by City Council in 2003.
Staff determined that these developments will significantly contribute to the City's ongoing revitalization efforts in each NEZ since the recommended developments are new affordable housing for households earning at or below 80% of Area Median Income. In addition, the increased density of this new housing will support the new retail, office and other housing development located or being developed in each NEZ. Staff recommends that the City Council adopt the attached Resolutions determining that the Columbia Renaissance Square II Senior and Palladium Fain Street developments contribute more than any other developments to the City's concerted revitalization efforts underway in the NEZs in which they are located.
Limitations on Developments in Certain Census Tracts:
TDHCA rules 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 jurisdiction's federal obligation to affirmatively further fair housing.
The Columbia Renaissance Square II Senior development 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 Support that it is consistent with the City's obligation to affirmatively further fair housing.
All of these proposed developments are subject to all applicable City laws, ordinances, policies and procedures including those pertaining to zoning changes and annexation. Councilmember support for purposes of these Resolutions does not constitute approval of any required zoning change or annexation.
The proposed developments are located in COUNCIL DISTRICTS 4 and 8.
This M&C does not request approval of a contract with a business entity.