CITY OF EL PASO, TEXAS
AGENDA ITEM SUMMARY FORM
Details
All Districts
Community & Human Development, Nicole Ferrini, (915) 212-1659
Community & Human Development, Mark Weber, (915) 212-1682
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public hearing date: Click or tap to enter a date.
strategic goal:
Goal 8 - Nurture and Promote a Healthy, Sustainable Community
subgoal: 8.2 Stabilize neighborhoods through community, housing and ADA improvements
SUBJECT:
APPROVE a Resolution / Ordinance / lease to do what? OR AUTHORIZE the City Manager to do what? Be descriptive of what we want Council to approve. Include $ amount if applicable.
Title
That the Mayor of the City of El Paso, Texas be authorized to sign a Resolution providing that the City of El Paso acknowledges that the proposed Sun Pointe Apartment project by the Housing Authority of the City of El Paso is located in a census tract that has a poverty rate above 55% for developments and that the City authorizes the development to move forward consistent with prior action taken by City Council on December 15, 2020.
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Background / DISCUSSION:
Discussion of the what, why, where, when, and how to enable Council to have reasonably complete description of he contemplated action. This should include attachment of bid tabulation, or ordinance or resolution if appropriate. What are the benefits to the City of this action? What are the citizen concerns?
On December 15, 2020, City Council approved a resolution of support for HACEP’s 2021 9% Competitive LIHTC proposal to the Texas Department of Housing and Community Affairs (TDHCA). TDHCA identifies the location of affordable housing in high poverty areas as a Neighborhood Risk Factor when evaluating 9% LIHTC proposals. In order to officially mitigate this concern, the City may provide a resolution acknowledging awareness that the proposed development is in a high poverty area and that the City confirms its support for the development in light of that acknowledgment.
Sun Pointe Apartments are an existing HACEP property and the proposed 9% LIHTC proposal will rehabilitate 101 of those units. As this is rehabilitation of existing affordable housing, the Department of Community + Human Development (DCHD) recommends that Council reaffirm its support for the tax credit development.
Sun Pointe Apartments LIHTC Development Summary
Applicant: Housing Authority of the City of El Paso (HACEP)
Developer: Housing Authority of the City of El Paso (HACEP)
Project Type: Rehabilitation
Location: District 2 - 4647 Maxwell Ave., 79904
# of affordable units: 101 (69 units at 60% AMI, 21 units at 50% AMI, 11 units at 30% AMI)
Total cost of development: $19,250,000
Tax Credits requested from TDHCA: $1,200,000
PRIOR COUNCIL ACTION:
Has the Council previously considered this item or a closely related one?
On December 15, 2020, Council approved a resolution of support and waiver of $500 in permit fees for the 9% LIHTC Sun Pointe Apartments development.
AMOUNT AND SOURCE OF FUNDING:
How will this item be funded? Has the item been budgeted? If so, identify funding source by amount numbers and description of account. Does it require a budget transfer?
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********************REQUIRED AUTHORIZATION********************
If Agenda Item Summary Form is initiated by Purchasing, client department should sign also