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Presentation, discussion, and possible action on a request for an extension of the previously approved deadline to Place in Service for 3606 Cockrell Hill
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RECOMMENDED ACTION
recommendation
WHEREAS, 3606 S Cockrell Hill Road Senior Living was awarded 9% housing tax credits during the 2024 Competitive Housing Tax Credit cycle;
WHEREAS, the Development Owner executed a Carryover Allocation Agreement that included certifications stating each building receiving an allocation would be placed in service by December 31, 2026;
WHEREAS, the Board previously approved a request for force majeure treatment in 2025, that extended the deadline to be placed in service by six months to June 30, 2027, which is earlier than the allowable federal deadline of December 31, 2027; and
WHEREAS, the Applicant has requested that the Board approve extending the placed in service deadline the additional six months to the allowable federal deadline;
NOW, therefore, it is hereby
RESOLVED, that the request to treat the matter under the force majeure provisions of 10 TAC ?11.6(5) is approved, and that the 2024 Qualified Allocation Plan, Uniform Multifamily Rules, and the 2025 Program Calendar shall be applicable to the Development.
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BACKGROUND
Development
3606 S Cockrell Hill Road Senior Living
Target Population
Elderly
HTC Award
$2,000,000
City
Dallas
Total Units
120
HTC Units
88
Initial Year of Award
2024
Extension Requested
Six months
3606 S Cockrell Hill Road Senior Living is a 120-unit mixed-income development located in Dallas, Dallas County. The development received an award of 9% Housing Tax Credits in 2024 and was approved for force majeure treatment in June of this year, but with an earlier deadline to place in service than is federally allowable. As a result, the current deadline to place in service in June 30, 2027.
The request states that all parties were on track to close in October, but the federal government shutdown beginning October 1, 2025, has delayed clo...
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