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Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application and a request for an extension of the previously approved deadline to Place in Service for New Faith Senior Village Apartments (HTC #24076).
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RECOMMENDED ACTION
recommendation
WHEREAS, New Faith Senior Village Apartments (the Development) received an award of 9% Housing Tax Credits (HTCs) for the new construction of 128 units, of which 98 are designated as low-income units, for the elderly population in Houston, Harris County;
WHEREAS, New Faith Senior Village, LP (the Applicant) requests approval for a material amendment to the Application for a decrease to the number of units from 128 to 105, which consists of a decrease of seven market units, and for changes to the architectural design, which also include a reduction of 22,071 square feet (21.61%) to the Net Rentable Area (NRA), going from 102,117 square feet to 80,046 square feet, and a 8,103 square foot (25.80%) reduction to Common Area, going from 31,402 square feet to 23,999 square feet;
WHEREAS, the proposed reduction to the number of units decreases the residential density by 17.97%, going from 21.761 units per acre to 17.851 per acre;
WHEREAS, Board approval is required for a significant modification of the site plan, a modification of the number of units or bedroom mix of units, a reduction of 3% or more in the square footage of the units or common areas, a significant modification of the architectural design of the Development, and for a modification of the residential density of at least 5%, as directed in Tex. Gov't Code ?2306.6712(d)(1), (2), (4), (5), and (6) and 10 TAC ?10.405(a)(4)(A), (B), (D), (E), and (F), and the Applicant has complied with the amendment requirements therein;
WHEREAS, Board approval of this amendment does not constitute a waiver of any of the rules or statutes applicable to the 2024 HTC Application, including but not limited to the accessibility...
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