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Presentation, discussion, and possible action on an appeal for HWY 77 Seniors
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RECOMMENDED ACTION
recommendation
WHEREAS, HWY 77 Seniors is a 2024 9% Housing Tax Credit Application that was submitted in the Rural 7 subregion;
WHEREAS, staff terminated the Application on June 27, 2024, because the required Market Analysis was not submitted by the Market Analysis Delivery Date of April 4, 2024;
WHEREAS, the Applicant timely filed an appeal of the termination on July 3, 2024; and
WHEREAS, the Executive Director denied the appeal on July 8, 2024, stating that the matter cannot be cured in accordance with the definition of Administrative Deficiency.
NOW, therefore, it is hereby
RESOLVED, that the appeal for HWY 77 Seniors is hereby denied.
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BACKGROUND
The Department received documentation associated with the Application named above on March 1, 2024, which was submitted to compete within the Rural 7 subregion and proposes the New Construction of 24 affordable units in Giddings.
10 TAC 11.205 establishes requirements for Third Party Reports submitted with applications for Housing Tax Credits including submission deadlines:
For Competitive HTC Applications, the Environmental Site Assessment, Scope and Cost Review, Appraisal (if applicable), and the Primary Market Area map (with definition based on census tracts, and site coordinates in decimal degrees, area of PMA in square miles, and list of census tracts included) must be submitted no later than the Full Application Delivery Date as identified in ?11.2(a) of this title (relating to Competitive HTC Deadlines Program Calendar) and the Market Analysis must be submitted no later than the Market Analysis Delivery Date as identified in ?11.2(a) of this chapter. For Competitive HTC Applications, if the reports, in their entirety, are not received by the deadline, the Application may be terminated.
The Market Analysis Delivery Date identified in 10 TAC ?11.2(a) for the 2024 cycle is April 4, 2024, and the Ma...
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