Posting Language
Title
Conduct a public hearing and consider a resolution related to an application by Bridge at Treeline, LP or an affiliated entity for housing tax credits for the construction of a multi-family development to be financed through the private activity bond program and to be known as Bridge at Treeline Apartments, located within the City at or near 12201 Heatherly Drive, Austin, Texas 78747. Funding: This item does not require a financial contribution from the City and has no fiscal impact.
De
Lead Department
Housing Department.
Fiscal Note
This item does not require a financial contribution from the City and has no fiscal impact.
For More Information:
Mandy DeMayo, Interim Director, Housing Department, 512-974-1091.
Additional Backup Information:
This action conducts a public hearing on an application that has been, or will be, submitted to the Texas Department of Housing and Community Affairs. The applicant, Bridge at Treeline, LP or an affiliated entity, seeks funding for the development through four percent Low Income Housing Tax Credits (LIHTC) and private activity bonds. After the public hearing, Council will consider a resolution related to the proposed application. The property is located within the City in Council District 5.
Proposed Development
Bridge at Treeline, LP, an affiliate of Journeyman Group, is planning to develop a 330-unit multi-family development to be located at 12201 Heatherly Drive, Austin, Texas 78747. The community will include 165 units affordable to households earning at or below 50 percent of the Area Median Family Income (MFI) and 165 units affordable to households earning at or below 60 percent of the Area MFI. The intended target population of the development is the general population.
Financing for the development is proposed to come in part from four percent LIHTC and private activity bonds issued by Austin Affordable PFC, Inc.