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Presentation, discussion, and possible action on an appeal for Green Manor Apartments
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RECOMMENDED ACTION
recommendation
WHEREAS, Green Manor is a 2024 9% Housing Tax Credit Application that proposes the New Construction of 36 affordable Units in Burnet;
WHEREAS, the Qualified Allocation Plan (QAP) stipulates that a New Construction Application shall be ineligible if the proposed Unit Mix is comprised of more than 30% efficiency or one-bedroom Units;
WHEREAS, Green Manor was submitted was 33.33% of the Units as one-bedrooms, and therefore was terminated by staff for ineligibility on June 26, 2024;
WHEREAS, the Applicant timely appealed, which was subsequently denied by the Executive Director; and
WHEREAS, changing the Unit mix to comply with the 30% threshold requirement presents a material change to the Application, which is prohibited by Tex. Gov't Code ?2306.6708;
NOW, therefore, it is hereby
RESOLVED, that the appeal for Green Manor is denied.
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BACKGROUND
Green Manor is a 2024 9% Housing Tax Credit Application that requests $868,951 in Housing Tax Credits to construct 36 units, all of which as affordable units, serving the general population in Burnet, Burnet County.
The Application as originally submitted included a Unit mix that proposes 33.33% of the Units as one-bedrooms. In accordance with 10 TAC ?11.101(b)(1), a Development is ineligible for funding if it includes a mix of Units that is more than 30% one-bedrooms. Following submission, the Department conducted a full review of the Application and the ineligible unit mix was identified and included in a list of Administrative Deficiencies sent to the Applicant on June 13, 2024.
While the Deficiency was timely responded to, responsive revisions were required to the financial exhibits within the Application, as well as numerous exhibits related to the site plan and Architectural Drawings. The revisions required demonstrate that this item exceeds the scope of an Administrative Deficie...
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