title
Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application and waiver of 10 TAC ?11.9(e)(6)(A)(i) for Waverly North (HTC #25158)
end
RECOMMENDED ACTION
recommendation
WHEREAS, Waverly North (Development) received an award of 9% Housing Tax Credits (HTCs) in 2025 and was conditionally approved for a Multifamily Direct Loan in 2026 for the adaptive re-use and new construction of 76 multifamily units in Austin, Travis County;
WHEREAS, to address concerns raised by neighborhood and the State Historic Preservation Office and the National Park Service, Waverly North, LLC (the Applicant) requests approval for a significant modification of the architectural design, which will result in changes to the unit mix among other changes;
WHEREAS, Board approval is required for a significant modification of the site plan, a modification of the bedroom mix of units, and a significant modification of the architectural design of the Development, as directed in Tex. Gov't Code ?2306.6712(d)(1), (2), and (5), and in 10 TAC ?10.405(a)(4)(A), (B), and (E), and the Applicant has complied with the amendment requirements therein;
WHEREAS, the Application for the Development was awarded five points for Historic Preservation, but because the proposed redesign will result in 47.4% (36) of the total units in the historic buildings, which is lower than the 55% (42 units) required for points under 10 TAC ?11.9(e)(6)(A)(i), the Applicant requests a waiver of this requirement; 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 funding award;
NOW, therefore, it is hereby
RESOLVED, that the requested material amendment to the Application and waiver of 10 TAC ?11.9(e)(6)(A)(i) for Waverly North are approved as presented at this meeting, and the Executive Director and his designees are each authorized, direc...
Click here for full text