HomeMy WebLinkAbout24-048RESOLUTION NO. 24-048
A RESOLUTION OF THE CITY OF DENTON SUPPORTING DENTON AFFORDABLE
HOUSING CORPORATION’S 9% HOUSING TAX CREDIT APPLICATION TO TEXAS
DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR PROPOSED NEW
CONSTRUCTION OF THE STELLA HAVEN APARTMENTS TO PROVIDE AFFORDABLE
RENTAL HOUSING; COMMITTING TO PROVIDE FEE REDUCTIONS IN AN AMOUNT
OF $500.00; AND PROVDING AN EFFECTIVE DATE.
WHEREAS, Denton Affordable Housing Corporation, in partnership with Across LLC,
AZ Morse Development, LLC and O-SDA Industries, LLC (collectively, " Applicant"), is
proposing the new construction of a multi-family affordable rental housing development to be
located at approximately 3300 Sundown Blvd, Denton TX 76210 to be named Stella Haven
Apartments (the "Project"); and
WHEREAS, the Applicant has advised the City that it intends to submit an application to
the Texas Department of Housing and Community Affairs ("TDHCA") for Housing Tax Credit
funding to provide equity financing for the Project (the “Application”); and
WHEREAS, pursuant to 10 Texas Administrative Code Rule §11.9(d)(1), TDHCA will
provide points to an application for a municipality’s resolution of support for a development which
will be located in such municipality’s jurisdiction; and
WHEREAS, pursuant to 10 Texas Administrative Code Rule §11.9(d)(2) the City will
provide a letter in the form attached hereto as Exhibit A (the " Fee Reduction Letter"), committing
to provide a development fee reduction in an amount not to exceed $ 500.00 in connection with
the development of the Project as the City' s financial contribution; and
WHEREAS, the City Council of the City of Denton wishes to express support for this
proposed Project’s application to TDHCA pursuant to 10 TAC §11.3(e) and §11.4(c)(1) of the
Qualified Allocation Plan to facilitate the possible award of Housing Tax Credits to the Project;
NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF DENTON HEREBY RESOLVES:
SECTION 1. The recitals contained in the preamble of this Resolution are incorporated
by reference into the body of this Resolution as if fully set forth herein.
SECTION 2. It is hereby acknowledged that the proposed Project is located in a
municipality that has more than twice the state average of units per capita supported by Housing
Tax Credits. Pursuant to Tex. Gov't Code § 2306.6703(a)(4) and 10 Texas Administrative Code
§11.3(c), the City Council hereby affirms its support for the proposed Project’s application to
TDHCA and the allocation of Housing Tax Credits for the Project.
SECTION 3. In accordance with the requirements of Texas Government Code
§2306.67071 and Texas Administrative Code §1 1.204(4), it is hereby found that:
1. Notice has been provided to the City in accordance with Texas Government Code,
§2306.67071 (a); and
2. The City has had sufficient opportunity to obtain a response from the Applicant
regarding any questions or concerns about the proposed Application; and
3 . The City has held a hearing at which public comment may be made on the proposed
Application in accordance with Texas Government Code, §2306.67071 (b); and
4. After due consideration of the information provided by the Applicant and public
comment, the City does support the proposed Application; and
SECTION 4. The City affirms its commitment to provide Applicant with fee reductions in
a total amount not to exceed $500.00 in connection with the development of the Project
conditioned on: (i) the Applicant securing the 9% housing tax credit from the TDHC A, and (ii)
Applicant securing development plan approvals for the Project, including any required zoning
approvals, from the City.
SECTION 5. The City Manager is hereby authorized, empowered, and directed to certify
this Resolution to the TDHCA.
SECTION 6. The City Council hereby approves and authorizes the execution on behalf of
the City of all other documents and writings whatsoever that may be necessary or convenient, in
the reasonable opinion of either the City Manager or the City Attorney, for carrying out this
Resolution.
SECTION 7. This Resolution shall be effective as of its date of approval and passage by
City Council.
secondeT:ymotiKr LTprE::hi Resolution was mar:hTResol£=\aFblsyd!„d app,o:: Iby the following vote [L - L] :
Aye Nay Abstain Absent
Mayor Gerard Hudspeth:V’
Vicki Byrd, District 1 :J
J
,/
./
,/
J
Brian Beck, District 2 :
Paul Meltzer, District 3 :
Joe Holland, District 4:
Brandon Chase McGee, At Large Place 5 :
Chris Watts, At Large Place 6:
PASSED AND APPROVED thi, th, 6 +' d,y ,f Cbt -'rr , 2024.
GERARD HUDSPETH, MAYOR
ATTEST:
JESUS SALAZAR, CITY SECRETARY
[\\\\It 11111/
APPROVED AS TO LEGAL FORM:
MACK RErNWAND, CITY ATTORNEY
1B!II IiI[fr : HH1gr)1r(IInb :h : :3yo 1 5 : 1 5 : 1 7
Exhibit A
City Manager’s Office
215 E. McKinney St., Denton, TX 76201 • (940) 349-8307DENTON
February 6, 2024
Stella Haven Apartments
Denton Affordable Housing Corporation
3300 Sundown Blvd
Denton, TX 7610
RE: Commitment of Development Funding by Local Political Subdivision for DAHC for the
proposed new construction of the Stella Haven Apartments located approximately at the 3300
Sundown Blvd, Denton, TX 76210, in Denton, City of Denton, Denton County, Texas
Dear Denton Affordable Housing Corporation,
The City affirms its commitment to the Denton Affordable Housing Corporation, in partnership
with Across LLC, AZ Morse Development, LLC and O-SDA Industries, LLC (collectively the
" Applicant"), for the Stella Haven Apartments development (the “Project”) to provide fee
reductions in a de minimis total amount of $500.00 in connection with the development of the
Project
It is the intention of this letter to firmly commit this benefit to the Project in order to satisfy a
requirement of Section 11.9(d)(2) of the Qualified Allocation Plan as published by the Texas
Department of Housing and Community Affairs in order to gain points under that rule for this
commitment of funds.
This is conditioned on: (i) the Applicant securing the 9% housing tax credit from the TDHCA, and
(ii) Applicant securing development plan approvals for the Project, including any required zoning
approvals, from the City.
Sincerely,
Sara Hensley
City Manager
City of Denton, Texas
OUR CORE VALUES
Inclusion • Collaboration • Quality Service • Strategic Focus • Fiscal Responsibility
ADA/EOE/ADEA www.cityofdenton.com TDD (800) 735-2989