title
Presentation, discussion, and possible action regarding the issuance of a Determination Notice for 4% Housing Tax Credits for Willow Creek Manor in Houston (#24460)
end
RECOMMENDED ACTION
recommendation
WHEREAS, a 4% Housing Tax Credit application for Willow Creek Manor, sponsored by Pedcor Investments and APV Redevelopment Corporation, was submitted to TDHCA on April 22, 2024;
WHEREAS, a Carryforward Designation Certificate was issued for the project on January 11, 2024;
WHEREAS, two letters of opposition from the Klein Independent School District were submitted for the proposed development;
WHEREAS, a letter of opposition from State Representative Sam Harless was submitted for the proposed development;
WHEREAS, a letter of support from Terry Estell, the Assistant Pastor at Greater New Solomon Temple Church of God in Christ, was submitted for the proposed development;
WHEREAS, a letter of support from Northwest Assistance Ministries, a local nonprofit, was submitted for the proposed development; and
WHEREAS, staff recommends approval of a Determination Notice for 4% Housing Tax Credits for Willow Creek Manor;
NOW, therefore, it is hereby
RESOLVED, that the issuance of a Determination Notice of $3,434,480 in 4% Housing Tax Credits, subject to underwriting conditions that may be found in the Real Estate Analysis report posted to the Department's website for Willow Creek Manor, is hereby approved in the form presented at this meeting.
end
BACKGROUND
General Information: Willow Creek Manor proposes the new construction of 264 units to be located at 10621 Cossey Road in Houston, Harris County. The development will serve the general population, and all 264 units will be rent and income restricted at 60% of Area Median Family Income (AMFI).
Willow Creek Manor was issued a Carryforward Designation Certificate on January 11, 2024, and a 4% tax credit application was submitted on April 22, 2024. Throughout the course of the application review pr...
Click here for full text