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Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application for Heritage Senior Residences (HTC #20204/22970)
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RECOMMENDED ACTION
recommendation
WHEREAS, Heritage Senior Residences (Development) received an award of 9% Housing Tax Credits (HTCs) in 2020 and Supplemental Credits in 2022 for the new construction of 135 units, of which 94 units are designated as low-income units, in Houston, Harris County;
WHEREAS, Heritage Senior Residences, LP (Development Owner or Owner) requests approval to decrease the size of the Development site from 1.23 acres identified at Application to 1.1295 acres, due to the dedication for right-of-way, which results in an 8.90% increase in residential density from 109.76 units per acre to 119.52 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, 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 Heritage Senior Residences 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
Heritage Senior Residences (HTC#20204/22970) received a 9% Housing Tax Credit (HTC) award in 2020 and Supplemental Credits in 2022 for the new construction of 135 units, of which 94 units are designated as low-income units, for the elderly in Houston, Harris County. Construction of the Development has been completed, and the cost certification documentation is currently under review by the Department.
Based ...
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