title
Presentation, discussion, and possible action regarding a Material Amendment to the Application for Reserves at Holdsworth (HTC #21114/23926, HOME #1003221)
end
RECOMMENDED ACTION
recommendation
WHEREAS, Reserves at Holdsworth (the Development) received an award of 9% Housing Tax Credits (HTCs) and a Multifamily Direct Loan (MFDL) in 2021 and Supplemental Credits in 2023 to construct 36 units, of which 32 are designated as low-income units, of multifamily housing in Kerrville, Kerr County;
WHEREAS, OPG Holdsworth Partners LLC (the Development Owner or Owner) requests approval for a reduction in the Common Area from 1,596 square feet to 1,314 square feet, representing a reduction of 282 square feet or 17.67% from the Common Area represented in the Architect Certification at Application;
WHEREAS, Board approval is required for a reduction of 3% or more in the square footage of the Common Area as directed in Tex. Gov't Code ?2306.6712(d)(4) and 10 TAC ?10.405(a)(4)(D), and the Owner has complied with the amendment requirements therein; and
WHEREAS, the requested change does 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 Reserves at Holdsworth 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.
end
BACKGROUND
Reserves at Holdsworth received an award of 9% Housing Tax Credits and a Multifamily Direct Loan in 2021 and Supplemental Credits in 2023 to construct 36 units of multifamily housing, of which 32 are designated as low-income units, in Kerrville, Kerr County. Construction of the Development has been completed, and the cost certification documentation for the Development is currently under review by the Department. Upo...
Click here for full text