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Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application for Red Oaks (HTC #22135)
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RECOMMENDED ACTION
recommendation
WHEREAS, Red Oaks (the Development) received an award of 9% Housing Tax Credits (HTCs) in 2022 and was approved for reallocation of tax credits under force majeure in 2023 and 2025 for the construction of 70 units of multifamily housing in Austin, Travis County;
WHEREAS, HTG Anderson, LLC (the Development Owner or Owner) requests approval for changes to the architectural design, which include a redesign of the building, changes in the unit mix, replacing one efficiency unit and one one-bedroom unit with an additional two-bedroom unit and an additional three-bedroom unit, and changes to the Common Area resulting in a reduction of 6,512 square feet (29.37%), going from 22,173 square feet to 15,661 square feet;
WHEREAS, Board approval is required for a significant modification of the site plan, a modification of the bedroom mix of units, a reduction of 3% or more in the square footage of the common areas, and a significant modification of the architectural design of the Development as directed in Tex. Gov't Code ?2306.6712(d)(1), (2), (4), and (5) and 10 TAC ?10.405(a)(4)(A), (B), (D), and (E), and the Owner 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 2022 HTC Application, including but not limited to the accessibility requirements stated in Chapter 1, Subchapter B; and
WHEREAS, the requested changes do not negatively affect the Development, impact the viability of the transaction, impact the scoring of the Application, or affect the amount of funding awarded;
NOW, therefore, it is hereby
RESOLVED, that the requested amendment for Red Oaks is approved as presented at this meeting, and the Executive Director and his designees are each hereby a...
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