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Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application and a request for return and reallocation of tax credits under 10 TAC ?11.6(5) related to Credit Returns Resulting from Force Majeure Events for Autumn Parc (HTC #23229)
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RECOMMENDED ACTION
recommendation
WHEREAS, Autumn Parc (the Development) received an award of 9% Housing Tax Credits (HTCs) for the new construction of 57 multifamily units, of which 45 are designated as low-income units, for the general population in Arlington, Tarrant County;
WHEREAS, AT Arkansas Housing LP (the Applicant) requests approval for a material amendment to the Application for a decrease to the number of units from 57 to 51, which consists of a decrease of six market units, a decrease to the acreage from 2.57 acres to 2.521 acres, which changes the residential density from 22.179 units per acre to 20.230 units per acre, a 8.79% decrease in density, and changes to the site plan and architectural design, which also include a reduction of the Net Rentable Area (NRA) from 55,110 square feet to 47,716 square feet, which represents a reduction of 7,394 square feet (13.42%), and a 1,967 square foot (15.44%) reduction to Common Area, going from 12,736 square feet to 10,769 square feet;
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 2023...
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