Posting Language
Title
Conduct a public hearing and consider a resolution related to an application by AMTEX Multi-Housing LLC, or an affiliated entity, for housing tax credits for a multi-family development to be financed through the private activity bond program and to be known as Manor Apartments, located at or near 6705 Manor Road, Austin, Texas 78723.
De
Lead Department
Housing Department.
Fiscal Note
This item has no fiscal impact.
Prior Council Action:
April 18, 2024 - Council set a public hearing for May 2, 2024, regarding an application by AMTEX Multi-Housing LLC, or an affiliated entity, for housing tax credits for a multifamily development to be financed through the private activity bond program and to be known as Manor Apartments, located at or near 6705 Manor Road, Austin, Texas 78723.
March 25, 2021 - Council approved a resolution related to an application by AMTEX Multi-Housing LLC, or an affiliated entity, for housing tax credits for a multifamily development to be financed through the private activity bond program and to be known as Manor Apartments, located at 6705 Manor Road, Austin, Texas 78723.
For More Information:
Mandy DeMayo, Interim Director, Housing Department, 512-974-1091; Angela Means, Interim Deputy Director, Housing Department, 512-974-1534.
Additional Backup Information:
This action conducts a public hearing on an application that will be (or has been) submitted to the Texas Department of Housing and Community Affairs. The Applicant, AMTEX Multi-Housing LLC, or an affiliated entity, seeks funding for the development through 4% Low Income Housing Tax Credits (4% LIHTCs) and private activity bonds. After the public hearing, Council will consider a resolution for the proposed development. Council previously approved a related resolution in 2021; however, a change in demographic characteristics for the development’s census tract requires approval of a resolution with updated language.
The property is located in Council District 1.
Proposed Development
AMTEX Multi-Housing LLC, or an affiliated entity, is planning to develop a 181-unit multifamily development to be located at 6705 Manor Road, Austin, Texas 78723. The community will include 18 units affordable to households earning at or below 30 percent of the Austin-Round Rock Metropolitan Statistical Area Median Family Income (MFI), 72 units affordable to households earning at or below 50 percent MFI, and 91 units affordable to households earning at or below 60 percent MFI. The intended target population of the development is the general population.
Financing for the development is proposed to come in part from 4% LIHTCs and private activity bonds issued by the Travis County Housing Finance Corporation (TCHFC).
An affiliate of TCHFC will be the general partner of the development’s partnership, thereby allowing for a full property tax exemption. The applicant submitted an application for $5,000,000 in Rental Housing Development Assistance funding from the Austin Housing Finance Corporation but was not awarded funding in the most recent funding round.
The proposed development’s application to the City, as well as socioeconomic information and amenities in the surrounding area, may be found at
<https://www.austintexas.gov/sites/default/files/files/Housing/DeveloperApplications/Tax%20Credit%20Requests/4%20Percent/Manor%20RONO%20Resolution%20Request%20Form%202024%20Signed.pdf>.