title
Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application for Pebble Hills Place (HTC #25016)
end
RECOMMENDED ACTION
recommendation
WHEREAS, Pebble Hills Place (the Development) received an award of 9% Housing Tax Credits (HTCs) in 2025 to construct 70 units of low-income housing for the elderly in El Paso, El Paso County;
WHEREAS, to maintain feasibility of the Development, GM Pebble Hills Place, Ltd. (the Applicant) requests approval for significant changes to the architectural design by modifying the number of bathrooms in the 28 two-bedroom units from two bathrooms to one bathroom and also include a reduction in the Common Area from 13,958 square feet to 12,198 square feet, representing a reduction of 1,760 square feet or 12.61% from the Common Area proposed at Application;
WHEREAS, Board approval is required for a reduction of 3% or more in the square footage of the Common Area and for a significant modification of the architectural design of the Development as directed in Tex. Gov't Code ?2306.6712(d)(4) and (5) and 10 TAC ?10.405(a)(4)(D) and (E), and the Applicant has complied with the amendment requirements therein;
WHEREAS, Board approval of this amendment does not constitute a waiver of any of the rules or statutes applicable to the 2025 HTC Application, including but not limited to the accessibility requirements stated in Chapter 1, Subchapter B; and
WHEREAS, the requested changes do not negatively affect the Development, impact the viability of the transaction, impact the scoring of the Application, or affect the HTC amount awarded;
NOW, therefore, it is hereby
RESOLVED, that the requested amendment for Pebble Hills Place 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
Pebble Hills Place received an award of 9...
Click here for full text