Items 11 - 21 / LIHTC Applications

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Alison Alter
Posts: 212
Joined: Fri Jan 13, 2017 3:52 pm

Items 11 - 21 / LIHTC Applications

Post by Alison Alter »

Colleagues,

Items 11-21 on our agenda relate to resolutions of support for eleven proposed deeply affordable housing development applications in the City of Austin. If approved, the Council resolutions would be submitted with each development’s 9% Low-Income Housing Tax Credit (LIHTC) application to the Texas Department of Housing and Community Affairs (TDHCA). As a practice, we have historically supported each application that meets the established criteria, knowing that at each stage of the competitive scoring process, different projects may score higher than others, with the hopes that as many projects as possible will eventually receive awards and be developed.

Of particular interest to me is the Ovetta Rosedale project, item 17, which is the first 9% Low-Income Housing Tax Credit application in District 10 that we have ever had the opportunity to consider during my time on Council. I believe this project, along with the others, has great merit; Ovetta Rosedale would facilitate over 70 new, deeply affordable housing units, with onsite pre-k, in a high-opportunity area with access to transit, healthcare facilities, grocery stores, and other amenities.

Our professional staff recommends we support each of the applications posted on our agenda as they make their way through the competitive scoring process. Earlier in the week I submitted questions in the Q:A process, and the response from our staff details the risks we face were we to reject any particular application in favor of another, at this stage. I look forward to supporting each of the 9% Low-Income Housing Tax Credit resolutions, as recommended by our professional staff, and hope that we can unanimously support each of the applications moving forward in the process, as posted.

Regards,
Alison Alter
Council Member, District 10