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Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application for Centro35 (HTC #22446)
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RECOMMENDED ACTION
recommendation
WHEREAS, Centro35 formerly known as 1800 Apartments (the Development) received a 4% Housing Tax Credit (HTC) award in 2022 to construct 330 units of multifamily housing in San Marcos, Hays County;
WHEREAS, 1800 Apartments Ltd. (Development Owner or Owner) requests approval to decrease the size of the Development site from 20.07 acres to 15.752 acres, due to the dedication of approximately 4.32 acres to public right of way, which results in a 27.41% increase in residential density, going from 16.442 units per acre to 20.950 units per acre;
WHEREAS, Board approval is required for a modification of the residential density of at least 5% as directed in Tex. Gov’t Code §2306.6712(d)(6) and 10 TAC §10.405(a)(4)(F), and the Owner has complied with the amendment requirements therein; and
WHEREAS, the requested change does not materially alter the Development in a negative manner, was not reasonably foreseeable or preventable by the Applicant at the time of Application, and would not have adversely affected the selection of the Application;
NOW, therefore, it is hereby
RESOLVED, that the requested material amendment to the Application for Centro35 is approved as presented at this meeting, and the Executive Director and his designees are each authorized, directed, and empowered to take all necessary action to effectuate the Board’s determination.
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BACKGROUND
Centro35 formerly known as 1800 Apartments received a 4% Housing Tax Credit award in 2022 to construct 330 units of multifamily housing in San Marcos, Hays County. Construction of the Development was completed in 2025, and during the review of the request to originate the Land Use Restriction Agreement (LURA), a change in acreage was identified and it was determined that a greater than 5% change in residential density had occurred since the representation at Application. In a letter dated January 22, 2026, George Currall, the representative for the Development Owner, requested approval to modify the total acreage to represent the actual size of the Development site due to the dedication of land for right of way.
At the time of Application, the Development site was identified as 20.07 acres, but the final area of the Development site is 15.752 acres. The difference between the acreage at Application and the final acreage is entirely attributable to a right-of-way dedication identified on the plat recorded in the records of Hays County on January 25, 2023. As a result, the residential density changed from 16.442 to 20.950 units per acre, which represents an increase of 27.41%, requiring approval by the Board under Tex. Gov’t Code §2306.6712(d)(6) and 10 TAC §10.405(a)(4)(F).
The requested amendment does not materially alter the Development in a negative manner and would not have affected the selection of the Development for the HTC award.
Staff recommends approval of the requested material amendment to the Application, and if approved, the LURA will be recorded to reflect the acreage as platted.