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Presentation, discussion, and possible action regarding a waiver of 10 TAC ?11.101(b)(1)(A)(viii) for South Union Place Apartments
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RECOMMENDED ACTION
recommendation
WHEREAS, South Union Place is a proposed 2026 9% Housing Tax Credit Application for the acquisition and rehabilitation of 125 Units in Houston, Harris County, with an Elderly Target Population;
WHEREAS, to ensure the best use of the Department's limited resources, 10 TAC ?11.101(b)(1)(A)(viii) establishes that a Competitive Housing Tax Credit Application is not eligible if it involves the rehabilitation of an existing Housing Tax Credit Development that has any building that placed in service on or after January 1, 2006;
WHEREAS, South Union Place placed in service at the end of 2006, and therefore is not eligible to compete without a waiver of the age requirement; and
WHEREAS, the Applicant has requested such a waiver, on the basis that the conditions at the Development represent an overwhelming need, but staff is unable to conclude that such overwhelming need exists;
NOW, therefore, it is hereby
RESOLVED, that the waiver of 10 TAC ?11.101(b)(1)(A)(viii) for South Union Place Apartments is denied.
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BACKGROUND
South Union Place is a proposed 2026 9% Housing Tax Credit Application for the acquisition and rehabilitation of 125 Units in Houston, Harris County, with an Elderly Target Population.
The 2026 Qualified Allocation Plan (QAP) includes a new provision that makes the following Applications ineligible:
(viii) Competitive Housing Tax Credit Applications that involve any existing Housing Tax Credit Development that has any building that placed in service on or after January 1, 2006, for its most recent award of Housing Tax Credits.
This rule was added to prevent Developments that have already been funded with Housing Tax Credits from prematurely applying for additional Rehabilitation funding. 2006 was chosen as a cutoff, as twenty years is a general benchmark for when some major...
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