Posting Language
Title
Approve a resolution related to an application by Grove Supportive Housing Partnership, LP, or an affiliated entity, for 9% Low Income Housing Tax Credits for a new construction development to be known as The Sasha, located at or near 1401 Grove Boulevard, Austin, Texas 78741, and related to the allocation of housing tax credits within the City and near the proposed development.
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Lead Department
Housing and Planning Department.
Fiscal Note
This item has no fiscal impact.
For More Information:
Rosie Truelove, Director, Housing and Planning Department, 512-974-3064; Mandy DeMayo, Deputy Director, Housing and Planning Department, 512-974-1091.
Additional Backup Information:
Grove Supportive Housing Partnership, LP, or an affiliated entity, will submit an application to the Texas Department of Housing and Community Affairs (TDHCA) for competitive 9% Low Income Housing Tax Credits. The applicant will receive a certain number of points based on Council's action. During the TDHCA scoring process, an application that receives a resolution of support will receive more points than an application that receives a resolution of no objection.
Staff recommends that Council support the proposed development because the proposed development is located in a gentrification area, is located within 0.5 miles of an Imagine Austin Corridor and provides at least 25 percent of the units as dedicated to the Continuum of Care (CoC). The resolution also acknowledges and confirms that the City has more than twice the state average of units per capita supported by Housing Tax Credits or private activity bonds, the proposed development will be located one linear mile or less from another development that serves the same type of household and received an allocation of Housing Tax Credits (or private activity bonds) within the last three years, and the proposed development is located in a census tract with more than 20 percent Housing Tax Credits per total househol...
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