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Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application for Lofts at Birdwell (HTC #25271)
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RECOMMENDED ACTION
recommendation
WHEREAS, Lofts at Birdwell (the Development) received an award of 9% Housing Tax Credits (HTCs) and State Housing Tax Credits in 2025 for the construction of 39 multifamily units for the general population in Big Spring, Howard County;
WHEREAS, Lofts at Birdwell LLC (Applicant) requests approval for a significant modification of the architectural design and site plan, including a reduction from two residential buildings and one common areas building to one building containing all units and common area, and increase in the number of units from 39 to 49, or 25.64%, by increasing the number of two-bedroom units by 10, resulting in an increase to the net rentable area of 8,763 square feet, or 28.12%, and a 25.64% increase in residential density, from 11.37 units per acre to 14.29 units per acre, and an increase in the common area of 1,527 square feet, or 22.99%, from 6,643 square feet to 8,170 square feet, and increase in the parking count from 89 open parking spaces to 92 open spaces;
WHEREAS, the Applicant also requests approval for an increase in the number of units at 60% of Area Median Income (AMI) units from 35 to 38 and introduction of seven market units;
WHEREAS, the Applicant is seeking to revise its structure by going from a limited liability company to a limited partnership named Lofts at Birdwell, LP, admitting as general partner of the Applicant CHDC Lofts at Birdwell GP, LLC, which is solely owned by Crossroads Housing Development Corporation, a nonprofit corporation, in order to qualify for a 50% property tax exemption;
WHEREAS, the Applicant is seeking to further revise the ownership structure by the creation of a special limited partner to ultimately be owned by an entity of Kanwarjit Ronnie Gyani (90%) and an entity of Jonathan Estrada (10%), wh...
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