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Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application for Corrigan Square Apartments (HTC #24075)
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RECOMMENDED ACTION
recommendation
WHEREAS, Corrigan Square Apartments (the Development) received a 9% Housing Tax Credit (HTC) award in 2024 for the acquisition and rehabilitation of 96 units of multifamily housing for the general population in Corrigan, Polk County;
WHEREAS, Corrigan Square Housing, Ltd. (Applicant) requests approval to increase the size of the Development site from 13.2023 acres to 14.8109 acres, due to the abandonment of streets for parking, which results in a 10.86% decrease in residential density from 7.271 units per acre to 6.482 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 Applicant 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 of the Application for Corrigan Square Apartments 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
Corrigan Square Apartments received a 9% Housing Tax Credit (HTC) award in 2024 for the acquisition and rehabilitation of 96 units of multifamily housing for the general population, of which all units are designated as low-income units, in Corrigan, Polk County. In a letter dated August 13, 2025, Jonathan Campbell, the representative for the Applicant, requested approval for a material amendment to the Application. The amendment is for a 10.86% decrease in the residential density, from 7.271 units per acre to 6.482 units per acre, which requires approval by the Board under Tex. Gov’t Code §2306.6712(d)(6) and 10 TAC §10.405(a)(4)(F). The change is a result of an increase in the Development site acreage from 13.2023 to 14.8109 acres, an increase of 1.6086 acres (12.18% increase).
The Applicant stated that during the due diligence regarding the acquisition of the property, it was determined that there would need to be a street abandonment for some of the parking spaces. This would be necessary so that the parking spaces could be properly maintained by the Applicant in accordance with accessibility requirements. The Applicant received approval from the City of Corrigan (the City) for the abandonment and dedication of portions of Bluebonnet Circle. The Applicant will provide an accessible route and connectivity to Corrigan Square Apartments. In addition, the Applicant was granted two crosswalk easements from the City. As a result of the street abandonment, the Applicant is proposing to add an additional 1.6086 acres to the original site through four 18-foot-wide strips of land. The proposed modification to the development site results in an increase to the site acreage from 13.2023 acres to 14.8109 acres. This is a 12.18% increase in site acreage and a 10.86% decrease in residential density. Parking requirements continue to meet local code.
The total number of units, proposed unit mix, number of buildings and proposed common amenities all remain unchanged. The Applicant has indicated that need for this request was not discovered until further due diligence was completed for the acquisition, and therefore, this change was unforeseeable at the time of Application. The Applicant has stated that there has been no financial impact due to this request.
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.