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Presentation, discussion, and possible action regarding a waiver of 10 TAC ?11.101(b)(4)(D) for Granada Apartments (HTC #21425)
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RECOMMENDED ACTION
recommendation
WHEREAS, Granada Apartments (the Development) received a 4% Housing Tax Credit (HTC) award in 2021 for the rehabilitation of 265 low-income units for the elderly in San Antonio, Bexar County;
WHEREAS, LIV Granada, LP (the Development Owner or Owner) is requesting a waiver for 10 TAC ?11.101(b)(4)(D), which is the requirement for screens on all operable windows as a Mandatory Development Amenity for all Rehabilitation Developments;
WHEREAS, 10 TAC ?11.101(b)(4) further states that the Board may waive one or more of the requirements of the paragraph for Developments that include Historic Tax Credits, with evidence that the amenity has not been approved by the Texas Historical Commission or the National Park Service, as applicable;
WHEREAS, the Owner provided a letter dated June 8, 2023, from the Texas Historical Commission citing that the project was subject to the Secretary of the Interior's Standards for Rehabilitation, does not recommend window screens for this historic building, and further supports the waiver request; and
WHEREAS, the requested waiver does not negatively affect the Development, impact the viability of the transaction, impact Tex. Gov't Code ??2306.001, 2306.002, 2306.359, and 2306.6701, or affect the amount of the tax credits awarded;
NOW, therefore, it is hereby
RESOLVED, that the waiver request for Granada Apartments is approved as presented to this meeting, and the Executive Director and his designees are each authorized, directed, and empowered to take all necessary action to effectuate the foregoing.
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BACKGROUND
Granada Apartments received a 4% Housing Tax Credit award in 2021 for the rehabilitation of 265 low-income units for the elderly in San Antonio, Bexar County. All units in the Development are located in a single, 14-story building that is listed...
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