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Presentation, discussion and possible action regarding a waiver of 10 TAC ?11.101(b)(1)(A)(vii) of the Qualified Allocation Plan (QAP) relating to the percentage of efficiency and/or one-bedroom units for Lofts at Creekview.
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RECOMMENDED ACTION
recommendation
WHEREAS, the Department received a request for a waiver relating to Lofts at Creekview, a proposed 4% Housing Tax Credit application that has not yet been submitted to the Department;
WHEREAS, the unit mix for Lofts at Creekview includes more than 35% one-bedroom units, which exceeds the threshold allowed in 10 TAC ?11.101(b)(1)(A)(vii) of the 2025 QAP, thus rendering the development ineligible; and
WHEREAS, staff recommends that a waiver be granted pursuant to 10 TAC ?11.207 based on specific factors related to the proposed development and its associated timeline as further detailed herein;
NOW, therefore, it is hereby
RESOLVED, that a waiver of ?11.101(b)(1)(A)(vii) of the 2025 QAP relating to the allowable percentage of efficiency and/or one-bedroom units for Lofts at Creekview is hereby approved.
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BACKGROUND
General Information: Lofts at Creekview is to be located in San Antonio, Bexar County, and involves the new construction of 301 units that will serve the general population. The Certificate of Reservation from the Bond Review Board was issued under the Priority 3 designation, which does not require any specific restrictions on rent or income and expires on October 20, 2025. According to the applicant, the development will utilize the income averaging set-aside such that 100% of the units will be rent and income restricted at an average at or below 60% of Area Median Income (AMI).
Waiver Request: Pursuant to ?11.101(b)(1)(A)(vii) of the QAP, "any New Construction, Reconstruction, or Adaptive Reuse Development proposing more than 35% efficiency and/or one-Bedroom Units will be considered ineligible. This requirement will not apply to Elderly or Supportive Housing Developments."...
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