2017-006 State Tax Credit UpdateDate: January 13, 2017
INFORMAL STAFF REPORT
TO MAYOR AND CITY COUNCIL
SUBJECT:
Update on the State Tax Credit Program discussion with City Council.
EXECUTIVE SUMMARY:
Report No. 2017-006
Following the City Council work session on Tuesday, staff contacted Denton Housing Authority
(DHA) representatives to set up a meeting. The purpose of the meeting is to discuss Council's
request for a follow-up work session to discuss how the proposed State Tax Credit projects can
further the City's and DHA's goals of providing affordable housing. A meeting has been set up
next week with staff and DHA representatives.
Since the work session staff received another request for a Resolution from a new developer.
Saigebrook Development is proposing a 125 unit multi -family project on McKinney Street, east
of Mayhill Road. Staff intends to include this new project as part of the discussion when this
item is brought back to City Council.
The staff is preparing to bring back the State Tax Credit Program item to City Council on
February 7, 2017. At this meeting staff will be seeking direction on how to proceed with the
current requests for Resolutions and to also seek direction on how to proceed with future
requests. If City Council directs staff to proceed with the Resolutions, the Resolutions will be
placed on the February 21, 2017 City Council agenda.
ATTACHMENT(S):
Letter from Saigebrook Development
STAFF CONTACT:
Ron Menguita, AICP
Long Range Planning Administrator
ron.men , ta(ccTc tyofdenton.com
940-349-8328
January 7, 2017
Chris Watts
City of Denton
215 E. McKinney St.
Denton TX 76201
Dear Mayor Watts:
Harper Station LLC is making an application for the Housing Tax Credit Program and possibly the
Multifamily Direct Loan Program with the Texas Department of Housing and Community Affairs
(TDHCA) for Harper Station to be located at the S side of E. McKinney Rd, E of S Mayhill Rd, Denton,
TX 76208, Denton County. This proposed new construction development is an apartment community
comprised of approximately 125 units of which 110 units will be reserved for residents at 60% of Area
Median Income or below.
In the spring, TDHCA will hold public hearings in various locations around the state to gather input on
Housing Tax Credit Program applications; comments can be made on any and all applications at each
hearing. The hearing schedule along with contact information for written public comment will be posted
on TDHCA's Public Comment Center website (http://www.tdhea.state.tx.us/public-comment.htm) later
this year. Additionally, as required by TDHCA, an applicant for funding must disclose that in accordance
with TDHCA's rules, aspects of the proposed development may not yet have been determined or selected
or may be subject to change, such as changes in the amenities ultimately selected and provided.
Sincerely,
Lisa Stephens
Consultant, Saigebrook Development LLC
Representative for Harper Station LLC
421 W 3rd St, #1504
Austin, TX 78701
Phone: (352) 213-8700
lisa@saigebrook.com