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Presentation, discussion, and possible action on authority for processing of amendments to extend elderly restrictions past the Compliance Period as non-material amendments
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RECOMMENDED ACTION
recommendation
WHEREAS, 10 TAC ?10.405(b)(2)(C) states that changes to the Target Population are material amendments to the Land Use Restriction Agreement (LURA);
WHEREAS, 10 TAC ?11.1(d)(47) defines an Elderly Development as a development that either meets the requirements of the Housing for Older Persons Act (HOPA) under the Fair Housing Act, or a development that receives federal funding that has a requirement for a preference or limitation for elderly persons or households, but must accept qualified households with children;
WHEREAS, under 10 TAC ?11.1(d)(126) Target Population is the designation of types of housing populations which include Elderly Developments and those that are Supportive Housing, and all others will be considered to serve general populations without regard to any subpopulations, although the application may request that any other populations required for targeting, preference, or limitation by a federal or state fund source are identified;
WHEREAS, the LURA must have an Elderly Restriction in it to be Elderly because otherwise tenants cannot enforce the restrictions as required by ?2306.269 of the Tex. Gov't Code, which states that the Department shall set standards for tenant and management selection by a housing sponsor;
WHEREAS, LURAs for Housing Tax Credit (HTC) developments from several award years require that the Elderly Restriction be in place throughout the Compliance Period, which is usually 15 years, but may be longer, and the Elderly Restriction does not run until the end of the term of the LURA;
WHEREAS, the Department has received requests, after the end of the Compliance Period, to amend the LURAs for several developments to extend the Elderly Requirement throughout the term of the LURA; and
WHEREAS, staff requests t...
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