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Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application for Melody Grove II (HTC #25204)
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RECOMMENDED ACTION
recommendation
WHEREAS, Melody Grove II (Development) received an award of 9% Housing Tax Credits (HTCs) in 2025 for the reconstruction of 70 multifamily units for the general population in Waco, McLennan County;
WHEREAS, Melody Grove Development 2, LP (Development Owner or Owner) requests approval for a significant modification of the site plan, a reduction of 7.15% in the net rentable area, and a significant modification of the architectural design, including a reduction from 22 residential buildings to eight residential buildings;
WHEREAS, Board approval is required for a significant modification of the site plan, a reduction of 3% or more in the square footage of the units, and a significant modification of the architectural design of the Development as directed in Tex. Gov't Code ?2306.6712(d)(1), (4), and (5), and in 10 TAC ?10.405(a)(4)(A), (D), and (E), and the Owner 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 2025 HTC Application, including but not limited to the accessibility requirements stated in Chapter 1, Subchapter B and the visitability requirements in 10 TAC ?11.101; and
WHEREAS, the requested changes do not negatively affect the Development, impact the viability of the transaction, impact the scoring of the Application, or impact the HTC award;
NOW, therefore, it is hereby
RESOLVED, that the requested material amendment to the Housing Tax Credit Application for Melody Grove II 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 foregoing.
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BACKGROUND
Melody Grove II was approved for a 9% HTC awar...
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