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Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application for Park Boulevard Lofts (HTC #23061)
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RECOMMENDED ACTION
recommendation
WHEREAS, Park Boulevard Lofts (the Development) received a 9% Housing Tax Credit (HTC) award in 2023 for the new construction of 66 units of multifamily housing for the general population in Houston, Harris County;
WHEREAS, to allow for the construction of Silverleaf Senior Living (HTC #25126), which was awarded 9% tax credits in 2025, on part of the land that was approved for the Development, CHS Park Boulevard Lofts, Ltd. (Development Owner or Owner) requests approval to decrease the size of the Development site from 6.55 acres to 4.1855 acres, which results in a 56.49% increase in residential density, going from 10.076 units per acre to 15.769 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, was not reasonably foreseeable or preventable by the Owner at the time of Application, and would not have adversely affected the selection of the Application;
NOW, therefore, it is hereby
RESOLVED, that the requested material amendment of the Application for Park Boulevard Lofts 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
Park Boulevard Lofts received a 9% Housing Tax Credit (HTC) award in 2023 to construct 66 units of multifamily housing for the general population in Houston, Harris County. The Development was approved for a reallocation of tax credits under force majeure in 2024 (HTC #24811), a...
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