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Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application for Cleveland Square (HTC #23081)
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RECOMMENDED ACTION
recommendation
WHEREAS, Cleveland Square (the Development) received an award of 9% Housing Tax Credits (HTCs) in 2023 for the rehabilitation of 48 units for the general population in Cleveland, Liberty County;
WHEREAS, due to the City of Cleveland granting parking area to the Development, Cleveland Square Housing, Ltd. (the Development Owner or Owner) requests approval to increase the size of the Development site from 1.4876 acres identified at Application to 2.018 acres, that is an increase of 0.5304 acre and results in a 26.28% decrease in residential density, from approximately 32.267 units per acre to 23.786 units per acre;
WHEREAS, Board approval is required for a modification of the residential density of at least 5% as directed in Tex. Gov't Code ?2306.6712(d)(6) and 10 TAC ?10.405(a)(4)(F), and the Owner has complied with the amendment requirements therein; and
WHEREAS, the requested change does not materially alter the Development in a negative manner, and would not have adversely affected the selection of the Application;
NOW, therefore, it is hereby
RESOLVED, that the requested amendment of the Application for Cleveland Square is approved as presented at this meeting, and the Executive Director and his designees are each hereby authorized, directed, and empowered to take all necessary action to effectuate the foregoing.
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BACKGROUND
Cleveland Square received an award of 9% Housing Tax Credits in 2023 for the acquisition and rehabilitation of 48 units for the general population in Cleveland, Liberty County. In a letter dated January 23, 2025, Robbye G. Meyer, the representative for the Owner, requested approval for a material amendment to the Application.
The requested amendment is for a 26.28% decrease in the residential density, from approximately 32.267...
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