Agenda

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City Council Regular Meeting

Meeting Date:

02/22/2022

BACKGROUND

Schertz Hidden Oak, LP has communicated to the city that it intends to submit an application to the Texas Department of Housing and Community Affairs (TDHCA) for 2022 Housing Tax Credit funds for a multifamily project on Schertz Parkway. Applications to the TCHCA are scored and ranked as part of the funding application process. Points are awarded for projects that receive support from the local government. As such Schertz Hidden Oak, LP has requested a resolution of support from the Schertz City Council.

Schertz Hidden Oak, LP is working with the Schertz Housing Authority to redevelop the existing Housing Authority complex at 204 Schertz. Parkway.

GOAL

Provide a range of quality housing opportunities for all residents of the City of Schertz.

COMMUNITY BENEFIT

The Housing Tax Credit program plays a significant role in providing quality affordable housing. Lack of affordable quality housing options are key to maintaining the sustainability of Schertz.

SUMMARY OF RECOMMENDED ACTION

Approval of Resolution 22-R-19 in support of the Housing Tax Credit application for Schertz Hidden Oak, LP's multifamily project on Schertz Parkway.

FISCAL IMPACT

There is no fiscal impact associated with this resolution.

RECOMMENDATION

Approval of Resolution 22-R-19.

Attachments
Res 22 R 19