title
Presentation, discussion, and possible action regarding a waiver of 10 TAC ?11.101(b)(1)(A)(viii) for Travis Street Plaza
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RECOMMENDED ACTION
recommendation
WHEREAS, Travis Street Plaza is a proposed 2026 9% Housing Tax Credit Application for the acquisition and rehabilitation of 192 Units in Houston, Harris County;
WHEREAS, to ensure the best use of the Department's limited resources, 10 TAC ?11.101(b)(1)(A)(viii) establishes that a Competitive Housing Tax Credit Application is not eligible if it involves the rehabilitation of an existing Housing Tax Credit Development that has any building that placed in service on or after January 1, 2006;
WHEREAS, Travis Street Plaza placed in service at the end of 2012, and therefore is not eligible to compete without a waiver of the age requirement; and
WHEREAS, the Applicant has requested such a waiver;
NOW, therefore, it is hereby
RESOLVED, that the waiver of 10 TAC ?11.101(b)(1)(A)(viii) for Travis Street Plaza is denied.
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BACKGROUND
Travis Street Plaza is a proposed 2026 9% Housing Tax Credit Application for the acquisition and rehabilitation of 192 Units in Houston, Harris County.
The 2026 Qualified Allocation Plan (QAP) includes a new provision that makes the following Applications ineligible:
(viii) Competitive Housing Tax Credit Applications that involve any existing Housing Tax Credit Development that has any building that placed in service on or after January 1, 2006, for its most recent award of Housing Tax Credits.
This rule was added to prevent Developments that have already been funded with Housing Tax Credits from prematurely applying for additional Rehabilitation funding. 2006 was chosen as a cutoff, as twenty years is a general benchmark for when some major systems and components such as roofing and HVAC should be replaced.
Travis Street Plaza was initially funded with Housing Tax Credits and placed in service in December 2012. Because of this, the project does not meet age requireme...
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