title
Presentation, discussion, and possible action regarding a Material Amendment to the Application for Riverview Manor (HTC #22159/23808, HOME #24505)
end
RECOMMENDED ACTION
recommendation
WHEREAS, Riverview Manor (the Development) received a 9% Housing Tax Credit (HTC) award in 2022 with a Force Majeure reallocation in 2023 and Multifamily Direct Loan (MFDL) HOME funds in 2025 to construct 36 units of multifamily housing for the elderly in Kerrville, Kerr County;
WHEREAS, to remove the portion of the property that contains the floodway, Riverview Manor, L.P. (Development Owner or Owner) requests approval to decrease the size of the Development site from 2.17 acres to 1.486 acres, which results in a 46.03% increase in residential density from 16.590 units per acre to 24.226 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 Owner 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 Riverview Manor 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.
end
BACKGROUND
Riverview Manor received a 9% Housing Tax Credit (HTC) award in 2022 with a Force Majeure reallocation of credits in 2023 followed by an award of MFDL HOME funds in 2025 to construct 36 units of multifamily housing for the elderly, of which all units are designated as low-income units, in Kerrville, Kerr County. In a letter dated May 15, 2025, Brian Kimes, the representative for the Owner, requested approval for a material amendment to the Application. The amendment is for a 46.03% increase in the residential density, from 16.590 units per acre to 24.226 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 a decrease in the Development site acreage from 2.17 to 1.486 acres, a reduction of 0.684 acre (31.52%).
The original site plan at application included a floodway, which is disallowed by HUD, that was to remain undeveloped. The Board approved an award of HOME funds in March 2025. However, the Owner has indicated that HUD funds are not allowed to be used for developments that contain floodway on the property. To remedy this, the parcel is being split to remove the portion that contains the floodway area. Nothing else about the Development has changed.
The proposed site change was approved by the City of Kerrville, and a Minor Re-Plat was filed on May 12, 2025. The Owner is committed to maintaining the parcel that is in the floodway and it will serve as additional green space. The enclosed table compares the site plan of the Development at Application and the revised site after the amendment.
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.