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Presentation, discussion, and possible action regarding a waiver relating to the applicability of a local Public Housing Authority Utility Allowance for Lapiz Flats HOME American Rescue Plan Application 23712
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RECOMMENDED ACTION
recommendation
WHEREAS, Lapiz Flats (9% Housing Tax Credit 22297) applied for 9% Housing Tax Credits (HTCs) in 2022 and was awarded $1,366,000 in HTCs in July 2022;
WHEREAS, Lapiz Flats (HOME-ARP 23712) applied gap financing funds under the 2023-2 HOME American Rescue Plan (HOME-ARP) Rental Development Notice of Funding Availability (NOFA) and received an award of $1,506,500 in July 2023;
WHEREAS, in December, 2024, during the post-award process, the Applicant notified staff that the project was approved for Project-Based Vouchers (PBVs) by the Dallas Housing Authority (DHA), and submitted supporting documentation;
WHEREAS, the Applicant is requesting a nonmaterial amendment to include the vouchers under 10 TAC ?10.405(a) which allows Applicants to request amendments to their Applications after award prior to the Land Use Restriction Agreement recording; and
WHEREAS, as part of the nonmaterial amendment request, the Applicant requests a waiver under ?11.207, which authorizes the Board to waive rules, to waive 10 TAC ?10.614(c)(3)(A) so that the development may calculate Utility Allowances according to the Dallas Housing Authority payment standard for the project located in Grand Prairie because of the vouchers;
NOW, therefore, it is hereby
RESOLVED, the waiver request for Lapiz Flats to use the Utility Allowances for the Dallas Housing Authority in Grand Prairie is approved as presented to this meeting, and the Executive Director and his designees are each authorized, directed, and empowered to take all necessary action to effectuate the foregoing.
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BACKGROUND
Lapiz Flats, LLC, is the owner of Lapiz Flats in Grand Prairie, which is a New Construction project that received a 2022 9% HTC award and a 2023 HOME-...
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