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Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application for Georgian Oaks (HTC #24145)
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RECOMMENDED ACTION
recommendation
WHEREAS, Georgian Oaks (the Development) received an award of 9% Housing Tax Credits (HTCs) for the construction of 95 multifamily units for the elderly in Fort Worth, Tarrant County;
WHEREAS, Georgian Oaks, LLC (the Applicant) requests approval for a material amendment to the Application for an increase to the number of units from 95 to 100, a decrease to the acreage from 0.67 acre to 0.46 acre, which changes the residential density from 141.79 units per acre to 217.39 units per acre, a 53.32% increase in density, and changes to the site plan and architectural design, which also include a reduction of 21,007 square feet (53.17%) to Common Area;
WHEREAS, Board approval is required for a significant modification of the site plan, a modification of the number of units or bedroom mix of units, a reduction of three percent or more in the square footage of the units or common areas, a significant modification of the architectural design of the Development, and for a modification of the residential density of at least 5%, as directed in Tex. Gov't Code ?2306.6712(d)(1), (2), (4), (5), and (6) and 10 TAC ?10.405(a)(4)(A), (B), (D), (E), and (F), and the Applicant has complied with the amendment requirements therein;
WHEREAS, Board approval of this amendment does not constitute a waiver of any of the rules or statutes applicable to the 2024 HTC Application, including but not limited to the accessibility requirements stated in Chapter 1, Subchapter B; and
WHEREAS, the requested changes do not negatively affect the Development, impact the viability of the transaction, impact the scoring of the Application, or change the amount of the tax credits awarded;
NOW, therefore, it is hereby
RESOLVED, that the requested amendment for Georgian Oaks is approved as presented at this meet...
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