HomeMy WebLinkAboutAgenda_HAB_11.19.2014Notice of Meeting for the
Housing Advisory Board
of the City of Georgetown
November 19, 2014 at 3:30 PM
at 1101 N. College Street, Parks & Recreation Administration
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Regular Session
(This Regular Session may, at any time, be recessed to convene an Executive Session for any purpose
authorized by the Open Meetings Act, Texas Government Code 551.)
A Consideration and possible action to approve minutes from the October 22, 2014 meeting.
B Consideration and possible action on creating a presentation to City Council in response to
additional questions.--Jennifer C. Bills, Housing Coordinator
C Discussion and possible action to forward a recommendation to City Council regarding the
Commitment of Development Funding by Georgetown for projects seeking Housing Tax
Credits.—Jennifer C. Bills, Housing Coordinator
D Discussion and possible action on a recommendation to develop a comprehensive plan, in
collaboration with stakeholders and public-private partnerships, using a plethora of resources to
build sustainable and affordable communities with housing as the medium.--Walt Doering,
Boardmember
E Reminder to board members that are eligible for a second term about the reappointment process.--
Jennifer C. Bills, Housing Coordinator
F Update from staff on recent conferences or articles related to housing trends--Jennifer C. Bills
G Reminder of the next regular meeting date of December 17, 2014.
Adjournment
CERTIFICATE OF POSTING
I, Jessica Brettle, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice
of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public
at all times, on the ______ day of __________________, 2014, at __________, and remained so
posted for at least 72 continuous hours preceding the scheduled time of said meeting.
____________________________________
Jessica Brettle, City Secretary
City of Georgetown, Texas
SUBJECT:
Consideration and possible action to approve minutes from the October 22, 2014 meeting.
ITEM SUMMARY:
FINANCIAL IMPACT:
None.
SUBMITTED BY:
ATTACHMENTS:
Description Type
Draft Housing Advisory Board Minutes_October 22, 2014 Cover Memo
Housing Advisory Board Minutes, October 22, 2014 1
City of Georgetown
Housing Advisory Board
Minutes
October 22, 2014 at 3:30 p.m.
Convention & Visitors Bureau
103 W. 7th Street, Georgetown, Texas 78626
Members present: Clay Woodard, Brenda Baxter, John Gavurnik, Walt Doering, Harry Nelson,
Monica Williamson (Martin) and Larry Gambone
Members absent: Brad Curlee and Joe Ruiz
Staff present: Jennifer C. Bills, Housing Coordinator, Laurie Brewer, Assistant City Manager,
Tammy Glanville, Recording Secretary
This is a regular meeting of the Housing Advisory Board of the City of Georgetown. The Board,
appointed by the Mayor and the City Council, makes recommendations to the City Council on
affordable housing matters.
Regular Session - To begin no earlier than 3:30 p.m.
The meeting was called to order at 3:36 by Chair Woodard.
Agenda
A. Consideration and possible action to approve minutes from the September 17, 2014
meeting.
Board member Doering made correction to the September 17, 2014 minutes.
Motion by Board Member Woodard to approve the minutes from the September 17,
2014, Housing Advisory Board meeting as amended. Second by Board Member
Gavurnik. Approved. (7-0).
B. Update from Walt Doering and Monica Williamson on the meeting with GISD regarding
the Workforce Housing Locations study.
Board member Doering and Williamson (Martin) met with Fred Brent, the new
superintendent for the Georgetown Independent School District on October 9, 2014.
Memo of their meeting was provided to the Board. Superintendent Brent overall gave
his unequivocal support for the workforce housing locations.
Board member Gavurnik questioned if we should send this letter to City Council and
the Mayor now or wait until the next presentation. Assistant City Manager, Laurie
Brewer stated she is going to leave that up to the City Manager to decide.
Housing Advisory Board Minutes, October 22, 2014 2
C. Discussion and possible action on additional housing affordability study data
researched by city staff. --Jennifer C. Bills, Housing Coordinator
Bills provided and discussed several different models using the Capital Area Council of
Governments (CAPCOG) Envision Tomorrow Balanced Housing Model in order to
address some of City Councils concerns.
Chair Woodard suggested board discuss councils concerns and how to address them for
the next presentation.
• Council member Steve Fought’s concerns:
Q: What does affordable housing look like in a 30 mile radius from the center of
Georgetown?
A: Use the following model charts; “All Households per Income Bracket”,
“Georgetown Rental Housing Affordability”, “Owner Housing
Affordability”.
Q: Does 30% of gross income include principal and interest and not taxes and
insurance?
A: Bills will research.
Q: If we give developers incentives how are we going to tract and ensure
housing stays affordable for a period of 15 years?
A: Provide required yearly reports for those developers obtaining subsidy on a
project. Board member Williamson (Martin) stated the Superintendent was
also concerned with tracking and monitoring projects once a developer gets
subsidy. Chair Woodard stated HAB can validate Fought’s concern by
implying the Superintendent had the same concern. Bills will provide city
requirements for builders.
• Council member Rachael Jonrowe’s concerns:
Q: What does new Superintendent have to say about locations?
A: Board will provide memo from October 9, 2014 meeting.
Q: Fee/development waivers or UDC waivers
A: Bills stated Board member Gavurnik and Habitat took advantage of past
Zoning Ordinance standards in the Residential High Density (R-HD) section
of the code allowed for the building of affordable housing, prior to the
adoption of the UDC. Chair Woodard suggested we utilize Gavurnik’s direct
testimony as a developer that utilized the system and made his project
feasible. Board member Gavurnik will write up some statements as to why
he pursued those options and how he was able to benefit from them.
• Council member Tommy Gonzalez concerns:
Q: What is the make-up of the city (Commercial & Residential-80%)? What is
the breakdown (owner/renter, multifamily, etc.) of the residential property?
Housing Advisory Board Minutes, October 22, 2014 3
A: Bills stated we can point to the staff analysis that is conducted on a quarterly
basis that provides a breakdown of zoning and land use categories by
percentage of the total city limits. It also provides a breakdown of housing
units by single-family and multi-family/high-density.
Board member Gavurnik suggested we could also include how much
percentage of property are government, churches and tax exempt.
Q: Concerned with our target area being too wide?
A: Woodard and Doering suggested that instead of focusing on a range by
percentage of area median income, that we use the dollar income range of
households that make between $30,000 to $50,000 a year.
Board discussed implementing these items in order to prepare for City Council
workshop in January 2015.
D. Reminder of the next regular meeting date of November 19, 2014.
Our next Housing Advisory Board meeting will be held at Park & Recreation
Administration Building, Community Room located at 1101 North College Street,
Georgetown, Texas 78626
E. Adjournment.
Motion by Board Member Gavurnik to adjourn. Second by Board Member Gambone.
Approved. (7-0).
Adjourned at 4:39
__________________________________ _______________________________________
Approved, Clay Woodard, Chair Attest, Lawrence Gambone, Secretary
City of Georgetown, Texas
SUBJECT:
Consideration and possible action on creating a presentation to City Council in response to
additional questions.--Jennifer C. Bills, Housing Coordinator
ITEM SUMMARY:
Please see the attached draft presentation.
FINANCIAL IMPACT:
None.
SUBMITTED BY:
Jennifer Bills, Housing Coordinator
ATTACHMENTS:
Description Type
City Council Workshop presentation draft Presentation
Housing Advisory Board
Update
Update and Feedback
February 10, 2015
Presentation Overview
•Previous information and feedback
•Additional Information
•Next Steps
2
Purpose of the Board
“The Board is established for the purpose of
advising the City Council on ensuring the City
has housing affordable for residents at all
income levels.”
-Housing Advisory Board Bylaws
3
Workforce Housing
•Affordable Housing is defined as spending no more
than 30% of gross household income on housing.
•The Department of housing and Urban Development
defines Affordable Housing as paying more than
30% gross household income on gross housing cost
plus utilities.
•For owner-occupied housing, gross housing cost
include mortgage loan principal, interest, taxes and
insurance (PITI).
4
Workforce Housing Range
•The housing research indicated that there is a
deficiency of housing for households that make less
than 80% of Area Median Income.
•The primary focus for Workforce Housing is
households that make between $30,000 and
$50,000 a year.
City of Georgetown 5
Source: Texas Workforce Commission, Austin MSA HUD Fair Market Rent 2013
6
•Approximately 40% of
Georgetown households
make less than $50,000
annually, which is
greater all city
comparables other than
Taylor.
Regional Affordability
7
All Households per Income bracket
Less than $50k
$50,000 and
above % below $50K
Cedar Park
4,854
12,720 28%
Georgetown
7,796
11,508 40%
Hutto
1,643
3,573 31%
Leander
2,702
5,877 31%
Pflugerville
4,377
11,636 27%
Round Rock
12,466
22,381 36%
Taylor
3,076
2,562 55%
Travis
County
187,120
222,231 46%
Williamson
County
51,461
102,913 33%
Rental Housing Affordability
8
Rental Affordability by City/County
Affordable Unaffordable Severely
Unaffordable
Hutto 61% 26% 13%
Williamson
County 58% 24% 18%
Round Rock 58% 25% 17%
Cedar Park 53% 28% 19%
Georgetown 50% 30% 20%
Travis County 47% 25% 28%
Taylor 44% 26% 30%
Leander 43% 34% 23%
Pflugerville 41% 33% 26%
Affordable
50%
Unaffordable
30%
Severely
Unaffordable
20%
Georgetown
Source: American Community Survey, 2012
Owner-Occupied Housing
Affordability
9
Affordable
76%
Unaffordable
12%
Severely
Unaffordable
12%
Georgetown
Owner-Occupied Affordability by City/County
Affordable Unaffordable Severely
Unaffordable
Pflugerville 78% 15% 7%
Round Rock 76% 17% 7%
Georgetown 76% 12% 12%
Williamson County 74% 18% 8%
Cedar Park 72% 21% 7%
Travis County 71% 17% 12%
Taylor 71% 20% 9%
Leander 69% 22% 9%
Hutto 63% 22% 15%
Source: American Community Survey, 2012
Breakdown of Property Types
Source: American Community Survey, 2012
10
Adopted Zoning Districts & 2030
Plan Land Uses
City of Georgetown 11
Agricultural
41%
Single Family
43%
Duplex, Townhouse
<1%
Multifamily
2% Commercial,
Mixed
9%
Industrial, BP
4%
Public Facilities
1%
Adopted Zoning
Rural & Low Residential
47%
Moderate Density Res.
15% High Density Res.
1%
Commercial/Mixed
11%
Employment Center
4%
Institutional
2%
Parks, Rec, Open Sp
15%
Mining
5%
2030 Comprehensive Plan
Impact of Workforce locations--
GISD
•Board representatives met with the new GISD
Superintendent Fred Brent regarding proposed
location and reviewed the selection criteria.
•He expressed a need for more workforce
housing and stated unequivocal support for the
locations.
12
Effect of Current Special
Development Standards
•UDC Chapter 6.07.020—Housing Diversity
Development
–This section was adopted into the UDC in 2009. To
date no developers have taken advantage of the
additional standards due to the requirement of 3 or
more housing types (single-family, townhome,
apartment per project.
13
Effect of Past Special Development
Standards
•Zoning Ordinance Section 2.14 Residential High
Density (R-HD)
–The Zoning Ordinance was replace by the UDC in
2003.
–This section allowed standards that provided for
affordable and diversified housing opportunities at a
higher density per acre.
–Windridge Village (Gavurnik Builders) and Old Mill
Village (Habitat for Humanity) were both built under
these regulations.
14
Maintaining Long-term Affordability
•In order to participate in the Workforce Housing
Incentive program, the developer will sign a
Performance Agreement with the City, detailing
the term and affordability requirements.
•The agreement will outline a yearly reporting
structure that the City will use to ensure
compliance.
15
Next Steps
•Workforce Housing Location Map
–Will be included as an amendment to the
Future Land Use Map. Planning will present
the 2030 Comprehensive Plan Annual
Update at a later Workshop meeting.
•Incentives for Workforce Housing
–Already included on the amendment list and
edits will be forwarded to the UDC Advisory
Committee for implementation in the UDC.
16
Benefits to Georgetown
•Contribute to recruitment of 21st century
businesses.
•Retain sales and property tax base, plus school
district dollars, for Georgetown.
•Increase volunteer workers and services for
churches, schools, hospital, and activities to
support our children and youth .
•Enrich Georgetown’s culture of diversity.
17
Benefits to Georgetown
•Recycle monies, from paid workers, back to
Georgetown’s businesses both small and Big
Box stores.
•Housing and utilities.
•Food – home and restaurants.
•Transportation – gas and oil, parts and service.
•Health care, health insurance, pharmacies, and dental service.
•Clothing, shoes, work-related tools, hair care and personal products.
•Entertainment -TV and phone.
•Education.
•Banks and credit unions.
•Real estate and insurance agencies.
•Construction industry including architecture, engineering and related
services.
18
Benefits to the Workforce
•Provide our workers option to live in quality
affordable housing.
•Give workers choice to enjoy our “quality of life.”
•Reduce transportation costs: gasoline, oil,
repairs and less frequent purchase of vehicles .
•Make more time available to be with families .
•Enable workers to serve as volunteers in
community, especially to children and youth .
19
Benefits to the Workforce
•Allow easier access to quality medical/dental
services.
•Provide more time for parents to attend
children’s school functions.
•Make it more convenient to shop in Georgetown
than buy elsewhere.
20
Feedback from Council
21
City of Georgetown, Texas
SUBJECT:
Discussion and possible action to forward a recommendation to City Council regarding the
Commitment of Development Funding by Georgetown for projects seeking Housing Tax
Credits.—Jennifer C. Bills, Housing Coordinator
ITEM SUMMARY:
See attached staff report.
FINANCIAL IMPACT:
None at this time.
SUBMITTED BY:
Jennifer Bills, Housing Coordinator
ATTACHMENTS:
Description Type
Staff Report Cover Memo
Attachment 1--2015 Qualified Allocation Plan (TDHCA) Backup Material
Attachment 2--Example from Buda Backup Material
Housing Advisory Board Staff Report November 19, 2014
Housing Tax Credit Commitment of Development Funding 1
Discussion and possible action to forward a recommendation to City Council regarding the
Commitment of Development Funding by Georgetown for projects seeking Housing Tax
Credits.—Jennifer C. Bills, Housing Coordinator
For the Housing Tax Credit program administered by the Texas Department of Housing and
Community Affairs (TDHCA), the application process is governed by a Qualified Allocation
Plan (QAP) (Attachment #1) that provides the rules and scoring criteria for applicants. This
QAP is updated yearly. With the 2014 QAP, a greater point total was given to project that
receive funding from the local jurisdiction, in the form of a loan, grant or in‐kind contribution,
such as fee waivers. The 2015 QAP will not be approved and published until December, but the
current draft still shows this scoring item as being heavily weighted. The total number of points
that can be gain is 14. The amount of funding that must be provided is calculated using the
total number of units in the project and the population of the local jurisdiction. For the City of
Georgetown, the tables below show the points for a project with 24 units and a project with 55
units.
Total Units 24
Population 52,303
Points
Population
Factor
Per Unit
Funding VS.
Standard Per
Unit Funding
Funds
Needed For
Points
11 0.150 $7,845 $15,000 $188,291
10 0.100 $5,230 $10,000 $125,527
9 0.050 $2,615 $5,000 $62,764
8 0.025 $1,308 $1,000 $24,000
7 0.010 $523 $500 $12,000
Total Units 55
Population 52,303
Points
Population
Factor
Per Unit
Funding VS.
Standard Per
Unit Funding
Funds
Needed For
Points
11 0.150 $7,845 $15,000 $431,500
10 0.100 $5,230 $10,000 $287,667
9 0.050 $2,615 $5,000 $143,833
8 0.025 $1,308 $1,000 $55,000
7 0.010 $523 $500 $27,500
Housing Advisory Board Staff Report November 19, 2014
Housing Tax Credit Commitment of Development Funding 2
These funding amounts can be provided in the form of a grant, in‐kind fee waivers, or a loan
with a minimum five‐year term with an interest rate no greater than 3%.
The project can receive two points if the funding is secured by resolution before the March 1,
2015 application deadline. One extra point can be gained if the funds are a grant or a loan with
a 15 year term with a maximum 3% interest rate.
Two property owners have already contact the city regarding the possibility of securing a
contribution for the 2015 application cycle. Northwest Apartments, at 1623 Northwest
Boulevard, applied last year but the application was rejected based on a technicality. The
development is an existing 24‐unit complex that was built in 1976 with US Department of
Agriculture funds. The other development is the Georgetown Square Apartments, located at
206 Royal Drive. It is a 55‐unit complex, built in 1973 under the Project‐based Section 8
program. Both are applying for the 9% Competitive Housing Tax Credits in the At‐Risk set‐
aside. Both applicants intend to have their “Two Times” resolution request in to the City for
consideration at the December Housing Advisory Board meeting. The schedule for the HTC
application is very tight, with the QAP being published in December, the developer must
submit the Pre‐Application to TDHCA by January 2, 2015 and the Full Application by February
27, 2015.
As this will be an ongoing request from developers seeking Housing Tax Credits, the City
Council will need to establish policy related to this item. Attached for reference is a similar
request that was processed by the City of Buda for the 2014 HTC cycle (Attachment #2).
If the City Council were willing to entertain such requests, it would be best if minimum criteria
that the city will accept to minimize the financial risk to the City. The owner of Georgetown
Square has suggested a couple of ideas, such as providing cash collateral to ensure repayment,
or possibly getting the funding from a third party that would be funneled through the City.
Staff is seeking feedback and a recommendation on this policy from the Housing Advisory
Board on this item to accompany any requests by HTC applicants to the City Council.
TDHCA Board Approved Draft of the Qualified Allocation Plan
Chapter 11 of the Texas Administrative Code
Disclaimer
Attached is a draft of Chapter 11 – Qualified Allocation Plan that was approved by the
TDHCA Governing Board on September 4, 2014. The rules are scheduled to be published in
the September 19 edition of the Texas Register and will constitute the official version for
purposes of public comment. The version herein should not be relied upon as the basis for public
comment. The public comment period shall be September 19 – October 20.
State of Texas
Qualified Allocation Plan
§11.1.General.
(a) Authority. This chapter applies to the awarding and allocation by the Texas Department of Housing and
Community Affairs (the "Department") of Housing Tax Credits. The federal laws providing for the awarding
and allocation of Housing Tax Credits require states to adopt a qualified allocation plan. Pursuant to Texas
Government Code, Chapter 2306, Subchapter DD, the Department is assigned responsibility for this activity.
As required by Internal Revenue Code (the "Code"), §42(m)(1), the Department has developed this Qualified
Allocation Plan (QAP) and it has been duly approved to establish the procedures and requirements relating to
an award and allocation of Housing Tax Credits. All requirements herein and all those applicable to a Housing
Tax Credit Development or an Application under Chapter 10 of this title (relating to Uniform Multifamily
Rules), or otherwise incorporated by reference herein collectively constitute the QAP required by Texas
Government Code, §2306.67022.
(b) Due Diligence and Applicant Responsibility. Department staff may, from time to time, make available
for use by Applicants information and informal guidance in the form of reports, frequently asked questions,
and responses to specific questions. The Department encourages communication with staff in order to clarify
any issues that may not be fully addressed in the QAP or be unclear when applied to specific facts. However,
while these resources are offered to help Applicants prepare and submit accurate information, Applicants
should also appreciate that this type of guidance is limited by its nature and that staff will apply the rules of
the QAP to each specific situation as it is presented in the submitted Application. Moreover, after the time that
an issue is initially presented and guidance is provided, additional information may be identified and/or the
issue itself may continue to develop based upon additional research and guidance. Thus, until confirmed
through final action of the Board, staff guidance must be considered merely as an aid and an Applicant
continues to assume full responsibility for any actions Applicant takes regarding an Application. In addition,
although the Department may compile data from outside sources in order to assist Applicants in the
Application process, it remains the sole responsibility of the Applicant to perform independently the
necessary due diligence to research, confirm, and verify any data, opinions, interpretations, or other
information upon which an Applicant bases an Application or includes in any submittal in connection with an
Application. These rules may need to be applied to facts and circumstances not contemplated at the time of
their creation and adoption. When and if such situations arise the Board will use a reasonableness standard in
evaluating and addressing Applications for Housing Tax Credits.
(c) Competitive Nature of Program. Applying for competitive housing tax credits is a technical process that
must be followed completely. As a result of the highly competitive nature of applying for tax credits, an
Applicant should proceed on the assumption that deadlines are fixed and firm with respect to both date and
time and cannot be waived except where authorized and for truly extraordinary circumstances, such as the
occurrence of a significant natural disaster that makes timely adherence impossible. If an Applicant chooses
to submit by delivering an item physically to the Department, it is the Applicant's responsibility to be within
the Department's doors by the appointed deadline. Applicants should further ensure that all required
documents are included, legible, properly organized, and tabbed, and that materials in required formats
involving digital media are complete and fully readable. Applicants are strongly encouraged to submit the
required items well in advance of established deadlines. Staff, when accepting Applications, may conduct
limited reviews at the time of intake as a courtesy only. If staff misses an issue in such a limited review, the
fact that the Application was accepted by staff or that the issue was not identified does not operate to waive
the requirement or validate the completeness, readability, or any other aspect of the Application.
(d) Definitions. The capitalized terms or phrases used herein are defined in §10.3 of this title (relating to
Definitions), unless the context clearly indicates otherwise. Any capitalized terms that are defined in Texas
Government Code, Chapter 2306, §42 of the Code, or other Department rules have, when capitalized, the
meanings ascribed to them therein. Defined terms when not capitalized, are to be read in context and
construed according to common usage.
Housing Tax Credit Qualified Allocation Plan 20142015
(e) Census Data. Where this chapter requires the use of census or American Community Survey data, the
Department shall use the most current data available as of October 1, 20142013, unless specifically otherwise
provided in federal or state law or in the rules. The availability of more current data shall generally be
disregarded.
(f) Deadlines. Where a specific date or deadline is identified in this chapter, the information or
documentation subject to the deadline must be submitted on or before 5:00 p.m. Central Time Zone on the
day of the deadline.
§11.2.Program Calendar for Competitive Housing Tax Credits.
Non‐statutory deadlines specifically listed in the Program Calendar may be extended for good cause by the
Executive Director for a period of not more than five (5) business days provided that the Applicant has, in
writing, requested an extension prior to the date of the original deadline. Extensions relating to
Administrative Deficiency deadlines may only be extended if documentation needed to resolve the item is
needed from a Third Party.
Deadline Documentation Required
1/02/201401/02/2015 Application Acceptance Period Begins.
01/1613/20152014 Pre‐Application Final Delivery Date (including pre‐clearance and waiver
requests).
02/28/201402/27/2015 Full Application Delivery Date (including Quantifiable Community Participation
documentation; Environmental Site Assessments (ESAs), Property Condition
Assessments (PCAs); Appraisals; Primary Market Area MapMarket Analysis
Summary; Site Design and Development Feasibility Report; and all Resolutions
necessary under §11.3 of this chapter related to Housing De‐Concentration
Factors).
Page 2 of 38
Housing Tax Credit Qualified Allocation Plan 20142015
Deadline Documentation Required
04/01/20152014 Final Input from Elected Officials Delivery Date (including Resolution for Local
Government Support pursuant to §11.9(d)(1) of this chapter and State
Representative Input pursuant to §11.9(d)(5) of this chapter (after opportunity
to review materially complete Applications)).
Market Analysis Delivery Date pursuant to §10.205 of this title.
Site Challenges Delivery Date.
05/01/20152014 Challenges to Neighborhood Organization Opposition Delivery Date.
05/0701/20152014 Application Challenges Deadline.
Mid‐May Final Scoring Notices Issued for Majority of Applications Considered
“Competitive.”
06/123/20152014 Deadline for public comment to be included in a summary to the Board at a
posted meeting.
June Release of Eligible Applications for Consideration for Award in July.
July Final Awards.
Mid‐August Commitments are Issued.
11/03/201411/02/2015 Carryover Documentation Delivery Date.
07/01/20162015 10 Percent Test Documentation Delivery Date.
12/31/20172016 Placement in Service.
Five (5) business days
after the date on the
Deficiency Notice
Administrative Deficiency Response Deadline (unless an extension has been
granted).
Page 3 of 38
Housing Tax Credit Qualified Allocation Plan 20142015
Deadline Documentation Required
(without incurring point
loss)
§11.3.Housing De‐Concentration Factors.
(a) Two Mile Same Year Rule (Competitive HTC Only). As required by Texas Government Code,
§2306.6711(f), staff will not recommend for award, and the Board will not make an award to an Application
that proposes a Development Site located in a county with a population that exceeds one million if the
proposed Development Site is also located less than two linear miles from the proposed Development Site of
another Application within said county that is awarded in the same calendar year.
(b) Twice the State Average Per Capita. As provided for in Texas Government Code, §2306.6703(a)(4), if a
proposed Development is located in a municipality, or if located completely outside a municipality, a county,
that has more than twice the state average of units per capita supported by Housing Tax Credits or private
activity bonds at the time the Application Round begins (or for Tax‐Exempt Bond Developments at the time
the Certificate of Reservation is issued by the Texas Bond Review Board), the Applicant must obtain prior
approval of the Development from the Governing Body of the appropriate municipality or county containing
the Development. Such approval must include a resolution adopted by the Governing Body of the municipality
or county, as applicable, setting forth a written statement of support, specifically citing Texas Government
Code, §2306.6703(a)(4) in the text of the actual adopted resolution, and authorizing an allocation of Housing
Tax Credits for the Development. An acceptable, but not required, form of resolution may be obtained in the
Multifamily Programs Procedures Manual. Required documentation must be submitted by the Full
Application Delivery Date as identified in §11.2 of this chapter (relating to Program Calendar for Competitive
Housing Tax Credits) or Resolutions Delivery Date in §10.4 of this title (relating to Program Dates), as
applicable.
(c) One Mile Three Year Rule. (§2306.6703(a)(3))
(1) An Application that proposes the New Construction or Adaptive Reuse of a Development that is located
one linear mile or less (measured between closest boundaries by a straight line on a map) from another
development that meets all of the criteria in subparagraphs (A) ‐ (C) of this paragraph shall be considered
ineligible.
(A) The development serves the same type of household as the proposed Development, regardless of
whether the Development serves families, elderly individuals, or another type of household; and
(B) The development has received an allocation of Housing Tax Credits or private activity bonds for
any New Construction at any time during the three‐year period preceding the date the Application
Round begins (or for Tax‐Exempt Bond Developments the three‐year period preceding the date the
Certificate of Reservation is issued); and
Page 4 of 38
Housing Tax Credit Qualified Allocation Plan 20142015
(C) The development has not been withdrawn or terminated from the Housing Tax Credit Program.
(2) Paragraph (1) of this subsection does not apply to a Development:
(A) that is using federal HOPE VI (or successor program) funds received through HUD;
(B) that is using locally approved funds received from a public improvement district or a tax
increment financing district;
(C) that is using funds provided to the state under the Cranston‐Gonzalez National Affordable Housing
Act (42 U.S.C. §§12701 et seq.);
(D) that is using funds provided to the state and participating jurisdictions under the Housing and
Community Development Act of 1974 (42 U.S.C. §§5301 et seq.);
(E) that is located in a county with a population of less than one million;
(F) that is located outside of a metropolitan statistical area; or
(G) that the Governing Body of the appropriate municipality or county where the Development is to be
located has by vote specifically allowed the construction of a new Development located within one
linear mile or less from a Development described under paragraph (1)(A) of this subsection. An
acceptable, but not required, form of resolution may be obtained in the Multifamily Programs
Procedures Manual. Required documentation must be submitted by the Full Application Delivery Date
as identified in §11.2 of this chapter or Resolutions Delivery Date in §10.4 of this title, as applicable.
(3) Where a specific source of funding is referenced in paragraph (2)(A) ‐ (D) of this subsection, a
commitment or resolution documenting a commitment of the funds must be provided in the Application or
prior to the Full Application Delivery Date as identified in §11.2 of this chapter or Resolutions Delivery
Date in §10.4 of this title, as applicable.
(d) Limitations on Developments in Certain Census Tracts. An Application that proposes the New
Construction or Adaptive Reuse of a Development proposed to be located in a census tract that has more than
20 percent Housing Tax Credit Units per total households as established by the 5‐year American Community
Survey shall be considered ineligible unless:
(1) the Development is in a Place that has a population is less than 100,000; or
(2) the Governing Body of the appropriate municipality or county containing the Development has by vote
specifically allowed the construction of the new Development and submits to the Department a resolution
referencing this rule. In providing a resolution a municipality or county should consult its own staff and
legal counsel as to whether such resolution will be consistent with Fair Housing laws as they may apply,
including, as applicable, consistency with any FHAST form on file, any current Analysis of Impediments to
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Fair Housing Choice, or any current plans such as one year action plans or five year consolidated plans for
HUD block grant funds, such as HOME or CDBG funds. An acceptable, but not required, form of resolution
may be obtained in the Multifamily Programs Procedures Manual. Required documentation must be
submitted by the Full Application Delivery Date as identified in §11.2 of this chapter or Resolutions
Delivery Date in §10.4 of this title, as applicable.
(e) Developments in Certain Sub‐Regions and Counties. In the 20152014 Application Round the
following Counties are ineligible for Qualified Elderly Developments: Collin; Denton; Ellis; Johnson; Hays; and
Guadalupe, unless the Application is made in a Rural Area. In the 20152014 Application Round Regions five
(5); six (6); and eight (8) are ineligible for Qualified Elderly Developments, unless the Application is made in a
Rural Area. These limitations will be reassessed prior to the 20162015 Application Round and are based on
the fact that data evaluated by the Department has shown that in the ineligible areas identified above, the
percentage of qualified elderly households residing in rent restricted tax credit assisted units exceeds the
percentage of the total Qualified Elderly‐eligible low income population for that area.
(fe) Additional Phase. Applications proposing an additional phase of an existing tax credit Development
serving the same Target Population, or Applications proposing Developments that are adjacent to an existing
tax credit Development serving the same Target Population, or Applications that are proposing a
Development serving the same Target Population on a contiguous site to another Application awarded in the
same program year, shall be considered ineligible unless the other Developments or phase(s) of the
Development have been completed and have maintained occupancy of at least 90 percent for a minimum six
(6) month period as reflected in the submitted rent roll. If the Application proposes the Rehabilitation or
replacement of existing federally‐assisted affordable housing units or federally‐assisted affordable housing
units demolished on the same site within two years of the beginning of the Application Acceptance Period,
this provision does not apply.
§11.4.Tax Credit Request and Award Limits.
(a) Credit Amount (Competitive HTC Only). (§2306.6711(b)) The Board may not award or allocate to an
Applicant, Developer, Affiliate or Guarantor (unless the Guarantor is also the General Contractor, and is not a
Principal of the Applicant, Developer or Affiliate of the Development Owner) Housing Tax Credits in an
aggregate amount greater than $3 million in a single Application Round. All entities that are under common
Control are Affiliates. For purposes of determining the $3 million limitation, a Person is not deemed to be an
Applicant, Developer, Affiliate or Guarantor solely because it:
(1) raises or provides equity;
(2) provides "qualified commercial financing;"
(3) is a Qualified Nonprofit Organization or other not‐for‐profit entity that is providing solely loan funds,
grant funds or social services; or
(4) receives fees as a Development Consultant or Developer that do not exceed 10 percent of the
Developer Fee (or 20 percent for Qualified Nonprofit Developments and other Developments in which an
entity that is exempt from federal income taxes owns at least 50% of the General Partner) to be paid or
$150,000, whichever is greater.
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(b) Maximum Request Limit (Competitive HTC Only). For any given Development, an Applicant may not
request more than 150 percent of the credit amount available in the sub‐region based on estimates released
by the Department on December 1, or $1,500,000, whichever is less, or $2,000,000 for Applications under the
At‐Risk Set‐Aside. The Department will consider the amount in the Funding Request of the pre‐application
and Application to be the amount of Housing Tax Credits requested and will automatically reduce the
Applicant's request to the maximum allowable under this subsection if exceeded. Regardless of the credit
amount requested or any subsequent changes to the request made by staff, the Board may not award to any
individual Development more than $2 million in a single Application Round. (§2306.6711(b))
(c) Increase in Eligible Basis (30 percent Boost). Applications will be evaluated for an increase of up to but
not to exceed 30 percent in Eligible Basis provided they meet the criteria identified in paragraph (1) or (2) of
this subsection. Staff will recommend no increase or a partial increase in Eligible Basis if it is determined it
would cause the Development to be over sourced, as evaluated by the Real Estate Analysis division, in which
case a credit amount necessary to fill the gap in financing will be recommended. The criteria in paragraph (2)
of this subsection are not applicable to Tax‐Exempt Bond Developments.
(1) The Development is located in a Qualified Census Tract (QCT) (as determined by the Secretary of HUD)
that has less than 20 percent Housing Tax Credit Units per total households in the tract as established by
the U.S. Census Bureau for the 5‐year American Community Survey. New Construction or Adaptive Reuse
Developments located in a QCT that has in excess of 20 percent Housing Tax Credit Units per total
households in the tract are not eligible to qualify for a 30 percent increase in Eligible Basis, which would
otherwise be available for the Development Site pursuant to §42(d)(5) of the Code. For Tax‐Exempt Bond
Developments, as a general rule, a QCT designation would have to coincide with the program year the
Certificate of Reservation is issued in order for the Department to apply the 30 percent boost in its
underwriting evaluation. For New Construction or Adaptive Reuse Developments located in a QCT with 20
percent or greater Housing Tax Credit Units per total households, the Development is eligible for the boost
if the Application includes a resolution stating that the Governing Body of the appropriate municipality or
county containing the Development has by vote specifically allowed the construction of the new
Development and referencing this rule. An acceptable, but not required, form of resolution may be
obtained in the Multifamily Programs Procedures Manual. Required documentation must be submitted by
the Full Application Delivery Date as identified in §11.2 of this chapter or Resolutions Delivery Date in
§10.4 of this title, as applicable. Applicants must submit a copy of the census map that includes the 11‐digit
census tract number and clearly shows that the proposed Development is located within a QCT.
(2) The Development meets one of the criteria described in subparagraphs (A) ‐ (E) of this paragraph
pursuant to §42(d)(5) of the Code:
(A) the Development is located in a Rural Area;
(B) the Development is proposing entirely Supportive Housing and is expected to be debt free or have
no foreclosable or non‐cash flow debt;
(C) the Development meets the criteria for the Opportunity Index as defined in §11.9(c)(4) of this
chapter (relating to Competitive HTC Selection Criteria);
(D) the Applicant elects to restrict an additional 10 percent of the proposed low income Units for
households at or below 30 percent of AMGI. These Units must be in addition to Units required under
any other provision of this chapter; or
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(E) the Development is a non‐Qualified Elderly Development not located in a QCT that is in an area
covered by a community revitalization plan. A Development will be considered to be in an area
covered by a community revitalization plan if it is eligible for and elects points under §11.9(d)(7) of
this chapter.
§11.5.Competitive HTC Set‐Asides (§2306.111(d)). This section identifies the statutorily‐mandated set‐
asides which the Department is required to administer. An Applicant may elect to compete in each of the set‐
asides for which the proposed Development qualifies. In order to be eligible to compete in the Set‐Aside, the
Application must meet the requirements of the Set‐Aside as of the Full Application Delivery Date. Election to
compete in a Set‐Aside does not constitute eligibility to compete in the Set‐Aside, and Applicants who are
ultimately deemed not to qualify to compete in the Set‐Aside will be considered not to be participating in the
Set‐Aside for purposes of qualifying for points under §11.9(3) of this chapter (related to Pre‐Application
Participation).
(1) Nonprofit Set‐Aside. (§2306.6729 and §2306.6706(b)) At least 10 percent of the State Housing Credit
Ceiling for each calendar year shall be allocated to Qualified Nonprofit Developments which meet the
requirements of §42(h)(5) of the Code and Texas Government Code, §2306.6729 and §2306.6706(b).
Qualified Nonprofit Organizations must have the controlling interest in the Development Owner applying for
this set‐aside (e.g., greater than 50 percent ownership in the General Partner). If the Application is filed on
behalf of a limited partnership, the Qualified Nonprofit Organization must be the Managing General Partner. If
the Application is filed on behalf of a limited liability company, the Qualified Nonprofit Organization must be
the controlling Managing Member. Additionally, for Qualified Nonprofit Development in the Nonprofit Set‐
Aside the nonprofit entity or its nonprofit Affiliate or subsidiary must be the Developer or a co‐Developer as
evidenced in the development agreement. An Applicant that meets the requirements to be in the Qualified
Nonprofit Set‐Aside is deemed to be applying under that set‐aside unless their Application specifically
includes an affirmative election to not be treated under that set‐aside and a certification that they do not
expect to receive a benefit in the allocation of tax credits as a result of being affiliated with a nonprofit. The
Department reserves the right to request a change in this election and/or not recommend credits for those
unwilling to change elections if insufficient Applications in the Nonprofit Set‐Aside are received. Applicants
may not use different organizations to satisfy the state and federal requirements of the set‐aside.
(2) USDA Set‐Aside. (§2306.111(d‐2)) At least 5 percent of the State Housing Credit Ceiling for each calendar
year shall be allocated to Rural Developments which are financed through USDA. If an Application in this set‐
aside involves Rehabilitation it will be attributed to and come from the At‐Risk Development Set‐Aside; if an
Application in this set‐aside involves New Construction it will be attributed to and come from the applicable
Uniform State Service Region and will compete within the applicable sub‐region. Commitments of
Competitive Housing Tax Credits issued by the Board in the current program year will be applied to each set‐
aside, Rural Regional Allocation, Urban Regional Allocation and/or USDA Set‐Aside for the current
Application Round as appropriate. Applications must also meet all requirements of Texas Government Code,
§2306.111(d‐2).
(3) At‐Risk Set‐Aside. (§2306.6714; §2306.6702)
(A) At least 15 percent of the State Housing Credit Ceiling for each calendar year will be allocated under
the At‐Risk Development Set‐Aside and will be deducted from the State Housing Credit Ceiling prior to
the application of the regional allocation formula required under §11.6 of this chapter (relating to
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Competitive HTC Allocation Process). Through this set‐aside, the Department, to the extent possible, shall
allocate credits to Applications involving the preservation of Developments identified as At‐Risk
Developments. (§2306.6714) Up to 5 percent of the State Housing Credit Ceiling associated with this set‐
aside may be given priority to Rehabilitation Developments under the USDA Set‐Aside.
(B) An At‐Risk Development must meet all the requirements of Texas Government Code,
§2306.6702(a)(5). For purposes of this subparagraph, any stipulation to maintain affordability in the
contract granting the subsidy, or any federally insured mortgage will be considered to be nearing
expiration or nearing the end of its term if expiration will occur or the term will end within two (2) years
of July 31 of the year the Application is submitted. Developments with HUD‐insured mortgages qualifying
as At‐Risk under §2306.6702(a)(5) may be eligible if the HUD‐insured mortgage is eligible for
prepayment without penalty. To the extent that an Application is eligible under
§2306.6705(a)(5)(B)(ii)(b) and the units being reconstructed were demolished prior to the beginning of
the Application Acceptance Period, the Application will be categorized as New Construction.
(C) An Application for a Development that includes the demolition of the existing Units which have
received the financial benefit described in Texas Government Code, §2306.6702(a)(5) will not qualify as
an At‐Risk Development unless the redevelopment will include at least a portion of the same site.
Alternatively, an Applicant may propose relocation of the existing units in an otherwise qualifying At‐Risk
Development if:
(i) the affordability restrictions and any At‐Risk eligible subsidies are approved to be transferred to
the Development Site (i.e. the site proposed in the tax credit Application) prior to the tax credit
Commitment deadline;
(ii) the Applicant seeking tax credits must propose the same number of restricted units (e.g. the
Applicant may add market rate units); and
(iii) the new Development Site must qualify for points on the Opportunity Index under §11.9(c)(4) of
this chapter (relating to Competitive HTC Selection Criteria).
(D) Developments must be at risk of losing affordability from the financial benefits available to the
Development and must retain or renew the existing financial benefits and affordability unless regulatory
barriers necessitate elimination of a portion of that benefit for the Development. For Developments
qualifying under §2306.6702(a)(5)(B), only a portion of the subsidy must be retained for the proposed
Development, but no less than 25 percent of the proposed Units must be public housing units supported
by public housing operating subsidy. (§2306.6714(a‐1))
(E) Nearing expiration on a requirement to maintain affordability includes Developments eligible to
request a Qualified Contract under §42 of the Code. Evidence must be provided in the form of a copy of
the recorded LURA, the first years' IRS Forms 8609 for all buildings showing Part II of the form
completed and, if applicable, documentation from the original application regarding the right of first
refusal.
(F) An amendment to any aspect of the existing tax credit property sought to enable the Development to
qualify as an At‐Risk Development, that is submitted to the Department after the Application has been
filed and is under review will not be accepted.
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§11.6.Competitive HTC Allocation Process. This section identifies the general allocation process and the
methodology by which awards are made.
(1) Regional Allocation Formula. The Department shall initially make available in each Rural Area and
Urban Area of each Uniform State Service Region ("sub‐region") Housing Tax Credits in an amount consistent
with the Regional Allocation Formula developed in compliance with Texas Government Code, §2306.1115.
The process of awarding the funds made available within each sub‐region shall follow the process described
in this section. Where a particular situation that is not contemplated and addressed explicitly by the process
described herein, Department staff shall formulate a recommendation for the Board's consideration based on
the objectives of regional allocation together with other policies and purposes set out in Texas Government
Code, Chapter 2306 and the Department shall provide Applicants the opportunity to comment on and
propose alternatives to such a recommendation. In general, such a recommendation shall not involve broad
reductions in the funding request amounts solely to accommodate regional allocation and shall not involve
rearranging the priority of Applications within a particular sub‐region or set‐aside except as described
herein. If the Department determines that an allocation recommendation would cause a violation of the $3
million credit limit per Applicant, the Department will make its recommendation by selecting the
Development(s) that most effectively satisfy the Department's goals in meeting set‐aside and regional
allocation goals. Where sufficient credit becomes available to award an application on the waiting list late in
the calendar year, staff may allow flexibility in meeting the Carryover Allocation submission deadline to
ensure to the fullest extent feasible that available resources are allocated by December 31.
(2) Credits Returned and National Pool Allocated After January 1. For any credits returned after January
1 and eligible for reallocation, the Department shall first return the credits to the sub‐region or set‐aside from
which the original allocation was made. The credits will be treated in a manner consistent with the allocation
process described in this section and may ultimately flow from the sub‐region and be awarded in the collapse
process to an Application in another region, sub‐region or set‐aside. For any credit received from the
"national pool" after the initial approval of awards in late July, the credits will be added to and awarded to the
next Application on the waiting list for the state collapse.
(3) Award Recommendation Methodology. (§2306.6710(a) ‐ (f); §2306.111) The Department will assign,
as described herein, Developments for review by the program and underwriting divisions. In general,
Applications will be prioritized for assignment, with highest priority given to those identified as most
competitive based upon the Applicant self‐score and an initial program review. The procedure identified in
subparagraphs (A) ‐ (F) of this paragraph will also be used in making recommendations to the Board.
(A) USDA Set‐Aside Application Selection (Step 1). The first level of priority review will be those
Applications with the highest scores in the USDA Set‐Aside until the minimum requirements stated in
§11.5(2) of this chapter (relating to Competitive HTC Set‐Asides. (§2306.111(d))) are attained. The
minimum requirement may be exceeded in order to award the full credit request or underwritten
amount of the last Application selected to meet the At‐Risk Set‐Aside requirement;
(B) At‐Risk Set‐Aside Application Selection (Step 2). The second level of priority review will be those
Applications with the highest scores in the At‐Risk Set‐Aside statewide until the minimum requirements
stated in §11.5(3) of this chapter are attained. This may require the minimum requirement to be
exceeded to award the full credit request or underwritten amount of the last Application selected to meet
the At‐Risk Set‐Aside requirement. This step may leave less than originally anticipated in the 26 sub‐
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regions to award under the remaining steps, but these funds would generally come from the statewide
collapse;
(C) Initial Application Selection in Each Sub‐Region (Step 3). The highest scoring Applications within each
of the 26 sub‐regions will then be selected provided there are sufficient funds within the sub‐region to
fully award the Application. Applications electing the At‐Risk or USDA Set‐Asides will not be eligible to
receive an award from funds made generally available within each of the sub‐regions;
(D) Rural Collapse (Step 4). If there are any tax credits set‐aside for Developments in a Rural Area in a
specific Uniform State Service Region ("Rural sub‐region") that remain after award under subparagraph
(C) of this paragraph, those tax credits shall be combined into one "pool" and then be made available in
any other Rural Area in the state to the Application in the most underserved Rural sub‐region as
compared to the sub‐region's allocation. This rural redistribution will continue until all of the tax credits
in the "pool" are allocated to Rural Applications and at least 20 percent of the funds available to the State
are allocated to Applications in Rural Areas. (§2306.111(d)(3)) In the event that more than one sub‐
region is underserved by the same percentage, the priorities described in clauses (i) ‐ (ii) of this
subparagraph will be used to select the next most underserved sub‐region:
(i) the sub‐region with no recommended At‐Risk Applications from the same Application Round; and
(ii) the sub‐region that was the most underserved during the Application Round during the year
immediately preceding the current Application Round.
(E) Statewide Collapse (Step 5). Any credits remaining after the Rural Collapse, including those in any
sub‐region in the State, will be combined into one "pool." The funds will be used to award the highest
scoring Application (not selected in a prior step) in the most underserved sub‐region in the State
compared to the amount originally made available in each sub‐region. This process will continue until the
funds remaining are insufficient to award the next highest scoring Application in the next most
underserved sub‐region. In the event that more than one sub‐region is underserved by the same
percentage, the priorities described in clauses (i) and (ii) of this subparagraph will be used to select the
next most underserved sub‐region:
(i) the sub‐region with no recommended At‐Risk Applications from the same Application Round; and
(ii) the sub‐region that was the most underserved during the Application Round during the year
immediately preceding the current Application Round.
(F) Contingent Qualified Nonprofit Set‐Aside Step (Step 6). If an insufficient number of Applications
participating in the Nonprofit Set‐Aside are selected after implementing the criteria described in
subparagraphs (A) ‐ (E) of this paragraph to meet the requirements of the 10 percent Nonprofit Set‐
Aside, action must be taken to modify the criteria described in subparagraphs (A) ‐ (E) of this paragraph
to ensure the set‐aside requirements are met. Therefore, the criteria described in subparagraphs (C) ‐ (E)
of this paragraph will be repeated after selection of the highest scoring Application(s) under the
Nonprofit Set‐Aside statewide are selected to meet the minimum requirements of the Nonprofit Set‐
Aside. This step may cause some lower scoring Applications in a sub‐region to be selected instead of a
higher scoring Application not participating in the Nonprofit Set‐Aside.
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(4) Waiting List. The Applications that do not receive an award by July 31 and remain active and eligible will
be recommended for placement on the waiting list. The waiting list is not static. The allocation process will be
used in determining the Application to award. For example, if credits are returned, those credits will first be
made available in the set‐aside or sub‐region from which they were originally awarded. This means that the
first Application on the waiting list is in part contingent on the nature of the credits that became available for
award. The Department shall hold all credit available after the late‐July awards until September 30 in order to
collect credit that may become available when tax credit Commitments are submitted. Credit confirmed to be
available, as of September 30, may be awarded to Applications on the waiting list unless insufficient credits
are available to fund the next Application on the waiting list. For credit returned after September 30, awards
from the waiting list will be made when the remaining balance is sufficient to award the next Application on
the waiting list based on the date(s) of returned credit. Notwithstanding the foregoing, if decisions related to
any returns or rescissions of tax credits are under appeal or are otherwise contested, the Department may
delay awards until resolution of such issues. (§2306.6710(a) ‐ (f); §2306.111)
(5) Credit Returns Resulting from Force Majeure Events. In the event that the Department receives a
return of Competitive HTCs during the current program year from an Application that received a Competitive
Housing Tax Credit award during any of the preceding three years, such returned credit will, if all of the
requirements of this paragraph are met, be allocated separately from the current year’s tax credit allocation,
and shall not be subject to the requirements of paragraph (2) of this section. Requests to separately allocate
returned credit where all of the requirements of this paragraph have not been met or requests for waivers of
any part of this paragraph will not be considered. For purposes of this paragraph, credits returned after
September 30 of the preceding program year may be considered to have been returned on January 1 of the
current year in accordance with the treatment described in §(b)(2)(C)(iii) of Treasury Regulation 1.42‐14.
The Department’s Governing Board may approve the execution of a current program year Carryover
Agreement regarding the returned credits with the Development Owner that returned such credits only if:
(A) The credits were returned as a result of “Force Majeure” events that occurred after the start of
construction and before issuance of Forms 8609. Force Majeure events are sudden and unforeseen fire,
tornado, flooding, significant and unusual rainfall or subfreezing temperatures, or loss of access to
necessary water or utilities as a direct result of significant weather events. Force Majeure events must
make construction activity impossible or materially impede its progress for a duration of at least 90 days,
whether consecutive or not;
(B) Acts or events caused by the willful negligence or willful act of the Development Owner, Affiliate or a
Related Party shall under no circumstance be considered to be caused by Force Majeure.;
(C) A Development Owner claiming Force Majeure must provide evidence of the type of event, as
described in subparagraph (A) of this paragraph, when the event occurred, and that the loss was a direct
result of the event;
(D) The Development Owner must prove that reasonable steps were taken to minimize or mitigate any
delay or damages, that the Development Owner substantially fulfilled all obligations not impeded by the
event, that the Development and Development Owner was properly insured and that the Department was
timely notified of the likelihood or actual occurrence of an event described in subparagraph (A) of this
paragraph;
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(EC) The event prevents the Development Owner from meeting the placement in service requirements of
the original allocation;
(F) The requested current year Carryover Agreement allocates the same amount of credit as that which
was returned;
(G) The Department’s Real Estate Analysis Division determines that the Development continues to be
financially viable in accordance with the Department’s underwriting rules after taking into account any
insurance proceeds related to the event; and
(H) The Development Owner submits a signed written request for a new Carryover Agreement
concurrently with the voluntary return of the HTCs.
§11.7. Tie Breaker Factors.
In the event there are Competitive HTC Applications that receive the same number of points in any given set‐
aside category, rural regional allocation or urban regional allocation, or rural or statewide collapse, the
Department will utilize the factors in this section, in the order they are presented, to determine which
Development will receive preference in consideration for an award. The tie breaker factors are not intended
to specifically address a tie between equally underserved sub‐regions in the rural or statewide collapse.
(1) Applications scoring higher on the Opportunity Index under §11.9(c)(4) of this chapter (relating to
Competitive HTC Selection Criteria) as compared to another Application with the same score.
(2) Applications proposed to be located the greatest linear distance from the nearest Housing Tax Credit
assisted Development. Developments awarded Housing Tax Credits but do not yet have a Land Use
Restriction Agreement in place will be considered Housing Tax Credit assisted Developments for
purposes of this subparagraph. The linear measurement will be performed from closest boundary to
closest boundary.
§11.8. Pre‐Application Requirements (Competitive HTC Only).
(a) General Submission Requirements. The pre‐application process allows Applicants interested in
pursuing an Application to assess potential competition across the thirteen (13) state service regions, sub‐
regions and set‐asides. Based on an understanding of the potential competition they can make a more
informed decision whether they wish to proceed to prepare and submit an Application. A complete pre‐
application is a pre‐application that meets all of the Department's criteria, as outlined in subsections (a) and
(b) of this section, with all required information and exhibits provided pursuant to the Multifamily Programs
Procedures Manual.
(1) The pre‐application must be submitted, along with the required pre‐application fee as described in
§10.901 of this title (relating to Fee Schedule), no later than the Pre‐application Final Delivery Date as
identified in §11.2 of this chapter (relating to Program Calendar for Competitive Housing Tax Credits). If
such pre‐application and corresponding fee are not submitted on or before this deadline the Applicant will
be deemed to have not made a pre‐application.
(2) The pre‐application shall consist of one (1) CD‐R containing a PDF copy and Excel copy submitted to
the Department in the form of single files as required in the Multifamily Programs Procedures Manual.
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(3) Only one pre‐application may be submitted by an Applicant for each Development Site.
(4) Department review at this stage is limited, and not all issues of eligibility and threshold are reviewed
or addressed at pre‐application. Acceptance by staff of a pre‐application does not ensure that an Applicant
satisfies all Application eligibility, threshold or documentation requirements. While the pre‐application is
more limited in scope than an Application, pre‐applications are subject to the same limitations,
restrictions, or causes for disqualification or termination as a full Application, and pre‐applications will
thus be subject to the same consequences for violation, including but not limited to loss of points and
termination of the pre‐application.
(b) Pre‐Application Threshold Criteria. Pursuant to Texas Government Code, §2306.6704(c) pre‐
applications will be terminated unless they meet the threshold criteria described in subsection (a) of this
section and paragraphs (1) and (2) of this subsection:
(1) Submission of the competitive HTC pre‐application in the form prescribed by the Department which
identifies at a minimum:
(A) Site Control meeting the requirements of §10.204(109) of this title (relating to Required
Documentation for Application Submission). For purposes of meeting this specific requirement
related to pre‐application threshold criteria, proof of consideration and any documentation required
for identity of interest transactions is not required at the time of pre‐application submission but will
be required at the time of full application submission;
(B) Funding request;
(C) Target Population;
(D) Requested set‐asides (At‐Risk, USDA, Nonprofit, and/or Rural);
(E) Total Number of Units proposed;
(F) Census tract number in which the Development Site is located; and
(G) Expected score for each of the scoring items identified in the pre‐application materials; and
(H) Proposed name of ownership entity.
(2) Evidence in the form of a certification provided in the pre‐application, that all of the notifications
required under this paragraph have been made. (§2306.6704)
(A) The Applicant must list in the pre‐application all Neighborhood Organizations on record with the
county or state whose boundaries include the proposed Development Site as provided by the local
elected officials, or that the Applicant has knowledge of as of the date of pre‐application submission.
It is the responsibility of the Applicant to identify all such Neighborhood Organizations.
(B) Notification Recipients. No later than the date the pre‐application is submitted, notification must
be sent to all of the persons or entities prescribed in clauses (i) – (viii) of this subparagraph.
Developments located in an ETJ of a city are required to notify both city and county officials. The
notifications may be sent by e‐mail, fax or mail with registered return receipt or similar tracking
mechanism in the format required in the Pre‐application Notification Template provided in the pre‐
application. The Applicant is encouraged to retain proof of delivery in the event the Department
requires proof of notification. Acceptable evidence of such delivery is demonstrated by signed receipt
for mail or courier delivery and confirmation of delivery for fax and e‐mail. Officials to be notified
are those officials in office at the time the pre‐application is submitted. Note that between the time of
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pre‐application (if made) and full Application, such officials may change and the boundaries of their
jurisdictions may change. By way of example and not by way of limitation, events such as
redistricting may cause changes which will necessitate additional notifications at full Application.
Meetings and discussions do not constitute notification. Only a timely and compliant written
notification to the correct person constitutes notification.
(i) Neighborhood Organizations on record with the state or county as of the beginning of the
Application Acceptance Period whose boundaries include the proposed Development Site;
(ii) Superintendent of the school district in which the Development Site is located;
(iii) Presiding officer of the board of trustees of the school district in which the Development Site
is located;
(iv) Mayor of the municipality (if the Development Site is within a municipality or its
extraterritorial jurisdiction);
(v) All elected members of the Governing Body of the municipality (if the Development Site is
within a municipality or its extraterritorial jurisdiction);
(vi) Presiding officer of the Governing Body of the county in which the Development Site is
located;
(vii) All elected members of the Governing Body of the county in which the Development Site is
located; and
(viii) State Senator and State Representative of the districts whose boundaries include the
proposed Development Site;
(C) Contents of Notification.
(i) The notification must include, at a minimum, all of the information described in subclauses (I) –
(VI) of this clause.
(I) the Applicant's name, address, an individual contact name and phone number;
(II) the Development name, address, city and county;
(III) a statement informing the entity or individual being notified that the Applicant is submitting
a request for Housing Tax Credits with the Texas Department of Housing and Community Affairs;
(IV) whether the Development proposes New Construction, Reconstruction, Adaptive Reuse, or
Rehabilitation;
(V) the physical type of Development being proposed (e.g. single family homes, duplex,
apartments, townhomes, high‐rise etc.); and
(VI) the approximate total number of Units and approximate total number of low‐income Units.
(ii) The notification may not contain any false or misleading statements. Without limiting the generality
of the foregoing, the notification may not create the impression that the proposed Development will serve
the elderly unless 100 percent of the Units will be for Qualified Elderly and it may not indicate that it will
target or prefer any subpopulation unless such targeting or preference is in full compliance with all
applicable state and federal laws, including state and federal fair housing laws.
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(c) Pre‐application Results. Only pre‐applications which have satisfied all of the pre‐application
requirements, including those in §11.9(e)(3) of this chapter, will be eligible for pre‐application points. The
order and scores of those Developments released on the Pre‐application Submission Log do not represent a
Commitment on the part of the Department or the Board to allocate tax credits to any Development and the
Department bears no liability for decisions made by Applicants based on the results of the Pre‐application
Submission Log. Inclusion of a pre‐application on the Pre‐application Submission Log does not ensure that an
Applicant will receive points for a pre‐application.
§11.9.Competitive HTC Selection Criteria.
(a) General Information. This section identifies the scoring criteria used in evaluating and ranking
Applications. The criteria identified in subsections (b) ‐ (e) of this section include those items required under
Texas Government Code, Chapter 2306, §42 of the Code, and other criteria established in a manner consistent
with Chapter 2306 and §42 of the Code. There is no rounding of numbers in this section for any of the
calculations in order to achieve the desired requirement or limitation, unless rounding is explicitly stated as
allowed for that particular calculation or criteria. Due to the highly competitive nature of the program,
Applicants that elect points where supporting documentation is required but fail to provide any supporting
documentation will not be allowed to cure the issue through an Administrative Deficiency. However,
Department staff may provide the Applicant an opportunity to explain how they believe the Application, as
submitted, meets the requirements for points or otherwise satisfies the requirements.
(b) Criteria promoting development of high quality housing.
(1) Size and Quality of the Units. (§2306.6710(b)(1)(D); §42(m)(1)(C)(iii)) An Application may qualify
for up to fifteen (15) points under subparagraphs (A) and (B) of this paragraph.
(A) Unit Sizes (8 points). The Development must meet the minimum requirements identified in this
subparagraph to qualify for points. Points for this item will be automatically granted for Applications
involving Rehabilitation (excluding Reconstruction), for Developments receiving funding from USDA,
or for Supportive Housing Developments without meeting these square footage minimums only if
requested in the Self Scoring Form.
(i) five‐hundred fifty (550) square feet for an Efficiency Unit;
(ii) six‐hundred fifty (650) square feet for a one Bedroom Unit;
(iii) eight‐hundred fifty (850) square feet for a two Bedroom Unit;
(iv) one‐thousand fifty (1,050) square feet for a three Bedroom Unit; and
(v) one‐thousand two‐hundred fifty (1,250) square feet for a four Bedroom Unit.
(B) Unit and Development Features (7 points). Applicants that elect in an Application to provide
specific amenity and quality features in every Unit at no extra charge to the tenant will be awarded
points based on the point structure provided in §10.101(b)(6)(B) of this title (relating to Site and
Development Requirements and Restrictions) and as certified to in the Application. The amenities
will be required to be identified in the LURA. Rehabilitation Developments will start with a base
score of three (3) points and Supportive Housing Developments will start with a base score of five (5)
points.
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(2) Sponsor Characteristics. (§42(m)(1)(C)(iv)) (1 point). An Application may qualify to receive one (1)
point provided the ownership structure contains a HUB certified by the Texas Comptroller of Public
Accounts by the Full Application Delivery Date, or Qualified Nonprofit Organization provided the
Application is under the Nonprofit Set‐Aside. The HUB or Qualified Nonprofit Organization must have
some combination of ownership interest in the General Partner of the Applicant, cash flow from
operations, and developer fee which taken together equal at least 80 percent and no less than 5 percent
for any category. For example, a HUB or Qualified Nonprofit Organization may have 20 percent
ownership interest, 30 percent of the developer fee, and 30 percent of cash flow from operations. The
HUB or Qualified Nonprofit Organization must also materially participate in the Development and
operation of the Development throughout the Compliance Period and must have experience directly
related to the housing industry, which may include experience with property management, construction,
development, financing, or compliance. A Principal of the HUB or Qualified Nonprofit Organization cannot
be a Related Party to any other Principal of the Applicant or Developer (excluding another Principal of
said HUB or Qualified Nonprofit Organization).
(c) Criteria to serve and support Texans most in need.
(1) Income Levels of Tenants. (§§2306.111(g)(3)(B) and (E); 2306.6710(b)(1)(C) and (e); and
§42(m)(1)(B)(ii)(I)) An Application may qualify for up to sixteen (16) points for rent and income
restricting a Development for the entire Affordability Period at the levels identified in subparagraph (A)
or (B) of this paragraph.
(A) For any Development located within a non‐Rural Area of the Dallas, Fort Worth, Houston, San
Antonio, or Austin MSAs:
(i) At least 40 percent of all low‐income Units at 50 percent or less of AMGI (16 points);
(ii) At least 30 percent of all low income Units at 50 percent or less of AMGI (14 points); or
(iii) At least 20 percent of all low‐income Units at 50 percent or less of AMGI (12 points).
(B) For Developments proposed to be located in areas other than those listed in subparagraph (A) of
this paragraph:
(i) At least 20 percent of all low‐income Units at 50 percent or less of AMGI (16 points);
(ii) At least 15 percent of all low‐income Units at 50 percent or less of AMGI (14 points); or
(iii) At least 10 percent of all low‐income Units at 50 percent or less of AMGI (12 points).
(2) Rent Levels of Tenants. (§2306.6710(b)(1)(G)) An Application may qualify to receive up to thirteen
(13) points for rent and income restricting a Development for the entire Affordability Period. These levels
are in addition to those committed under paragraph (1) of this subsection.
(A) At least 20 percent of all low‐income Units at 30 percent or less of AMGI for Supportive Housing
Developments qualifying under the Nonprofit Set‐Aside or for Developments participating in the City
of Houston's Permanent Supportive Housing ("PSH") program. A Development participating in the
PSH program and electing points under this subparagraph must have applied for PSH funds by the
Full Application Delivery Date, must have a commitment of PSH funds by Commitment, must qualify
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for five (5) or seven (7) points under paragraph (4) of this subsection (relating to the Opportunity
Index), and must not have more than 18 percent of the total Units restricted for Persons with Special
Needs as defined under paragraph (7) of this subsection (relating to Tenant Populations with Special
Housing Needs) (13 points);
(B) At least 10 percent of all low‐income Units at 30 percent or less of AMGI or, for a Development
located in a Rural Area, 7.5 percent of all low‐income Units at 30 percent or less of AMGI (11 points);
or
(C) At least 5 percent of all low‐income Units at 30 percent or less of AMGI (7 points).
(3) Tenant Services. (§2306.6710(b)(1)(I) and §2306.6725(a)(1)) A Supportive Housing Development
qualifying under the Nonprofit Set‐Aside or Developments participating in the City of Houston's
Permanent Supportive Housing ("PSH") program may qualify to receive up to eleven (11) points and all
other Developments may receive up to ten (10) points. A Development participating in the PSH program
and electing eleven (11) points under this paragraph must have applied for PSH funds by the Full
Application Delivery Date, must have a commitment of PSH funds by Commitment, must qualify for five
(5) or seven (7) points under paragraph (4) of this subsection, and must not have more than 18 percent
of the total Units restricted for Persons with Special Needs as defined under paragraph (7) of this
subsection. By electing points, the Applicant certifies that the Development will provide a combination of
supportive services, which are listed in §10.101(b)(7) of this title, appropriate for the proposed tenants
and that there is adequate space for the intended services. The provision and complete list of supportive
services will be included in the LURA. The Owner may change, from time to time, the services offered;
however, the overall points as selected at Application will remain the minimum. No fees may be charged
to the tenants for any of the services. Services must be provided on‐site or transportation to those off‐site
services identified on the list must be provided. The same service may not be used for more than one
scoring item.
(4) Opportunity Index. The Department may refer to locations qualifying for points under this scoring
item as high opportunity areas in some materials.
(A) For Developments located in an Urban Area, if the proposed Development Site is located within a
census tract that has a poverty rate below 15 percent for Individuals (or 35 percent for
Developments in Regions 11 and 13), an Application may qualify to receive up to seven (7) points
upon meeting the additional requirements in clauses (i) ‐ (iv) of this subparagraph. The Department
will base poverty rate on data from the five (5) year American Community Survey.
(i) the Development targets the general population or Supportive Housing, the Development Site
is located in a census tract with income in the top quartile of median household income for the
county or MSA as applicable, and the Development Site is in the attendance zone of an
elementary school that has a Met Standard rating and has achieved a 77 or greater on index 1 of
the performance index, related to student achievement (7 points);
(ii) the Development targets the general population or Supportive Housing, the Development Site
is located in a census tract with income in the second quartile of median household income for
the county or MSA as applicable, and the Development Site is in the attendance zone of an
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elementary school that has a Met Standard rating and has achieved a 77 or greater on index 1 of
the performance index, related to student achievement (5 points);
(iii) any Development, regardless of population served, if the Development Site is located in a
census tract with income in the top quartile of median household income for the county or MSA
as applicable (3 points); or
(iv) any Development, regardless of population served, if the Development Site is located in a
census tract with income in the top two quartiles of median household income for the county or
MSA as applicable (1 point).
(B) For Developments located in a Rural Area, an Application may qualify to receive up to seven (7)
cumulative points based on median income of the area and/or proximity to the essential community
assets as reflected in clauses (i) ‐ (v) of this subparagraph if the Development Site is located within a
census tract that has a poverty rate below 15 percent for Individuals (35 percent for regions 11 and
13) or within a census tract with income in the top or second quartile of median household income
for the county or MSA as applicable or within the attendance zone of an elementary school that has a
Met Standard rating and has achieved a 77 or greater on index 1 of the performance index, related to
student achievement.
(i) The Development Site is located within the attendance zone and within one linear mile of an
elementary, middle, or high school with a Met Standard rating (For purposes of this clause only,
any school, regardless of the number of grades served, can count towards points. However,
schools without ratings, unless paired with another appropriately rated school, or schools with a
Met Alternative Standard rating, will not be considered.) (3 points);
(ii) The Development Site is within one linear mile of a center that is licensed by the Department
of Family and Protective Services specifically to provide a school‐age program (2 points);
(iii) The Development Site is located within one linear mile of a full service grocery store (2
points);
(iv) The Development Site is located within one linear mile of a center that is licensed by the
Department of Family and Protective Services to provide a child care program for infants,
toddlers, and pre‐kindergarten, at a minimum (2 points);
(v) The Development is a Qualified Elderly Development and the Development Site is located
within one linear mile of a senior center (2 points); and/or
(vi) The Development Site is located within one linear mile of a health related facility (1 point).
(C) An elementary school attendance zone for the Development Site does not include schools with
district‐wide possibility of enrollment or no defined attendance zones, sometimes known as magnet
schools. However, in districts with district‐wide enrollment an Applicant may use the lowest rating of
all elementary schools that may possibly be attended by the tenants. The applicable school rating will
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be the 20134 accountability rating assigned by the Texas Education Agency. School ratings will be
determined by the school number, so that in the case where a new school is formed or named or
consolidated with another school but is considered to have the same number that rating will be used.
A school that has never been rated by the Texas Education Agency will use the district rating. If a
school is configured to serve grades that do not align with the Texas Education Agency's conventions
for defining elementary schools (typically grades K‐5 or K‐6), the school will be considered to have
the lower of the ratings of the schools that would be combined to meet those conventions.
(5) Educational Excellence. An Application may qualify to receive up to three (3) points for a
Development Site located within the attendance zones of public schools that have achieved a 77 or
greater on index 1 of the performance index, related to student achievement, by the Texas Education
Agency, provided that the schools also have a Met Standard rating. Points will be awarded as described in
subparagraphs (A) and (B) of this paragraph. An attendance zone does not include schools with district‐
wide possibility of enrollment or no defined attendance zones, sometimes known as magnet schools.
However, in districts with district‐wide enrollment an Applicant may use the lowest rating of all
elementary, middle, or high schools, respectively, which may possibly be attended by the tenants. The
applicable school rating will be the 20134 accountability rating assigned by the Texas Education Agency.
School ratings will be determined by the school number, so that in the case where a new school is formed
or named or consolidated with another school but is considered to have the same number that rating will
be used. A school that has never been rated by the Texas Education Agency will use the district rating. If a
school is configured to serve grades that do not align with the Texas Education Agency's conventions for
defining elementary schools (typically grades K‐5 or K‐6), middle schools (typically grades 6‐8 or 7‐8)
and high schools (typically grades 9‐12), the school will be considered to have the lower of the ratings of
the schools that would be combined to meet those conventions. In determining the ratings for all three
levels of schools, ratings for all grades K‐12 must be included, meaning that two or more schools' ratings
may be combined. For example, in the case of an elementary school which serves grades K‐4 and an
intermediate school that serves grades 5‐6, the elementary school rating will be the lower of those two
schools' ratings. Also, in the case of a 9th grade center and a high school that serves grades 10‐12, the
high school rating will be considered the lower of those two schools' ratings. Sixth grade centers will be
considered as part of the middle school rating.
(A) The Development Site is within the attendance zone of an elementary school, a middle school and
a high school with the appropriate rating (3 points); or
(B) The Development Site is within the attendance zone of an elementary school and either a middle
school or high school with the appropriate rating (1 point).
(6) Underserved Area. (§§2306.6725(b)(2); 2306.127, 42(m)(1)(C)(ii)) An Application may qualify to
receive two (2) points for general population or Supportive Housing Developments if the Development
Site is located in one of the areas described in subparagraphs (A) ‐ (D) of this paragraph.
(A) A Colonia;
(B) An Economically Distressed Area;
(C) A Place, or if outside of the boundaries of any Place, a county that has never received a
competitive tax credit allocation or a 4 percent non‐competitive tax credit allocation for a
Development that remains an active tax credit development; or
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(D) For Rural Areas only, a census tract that has never received a competitive tax credit allocation or
a 4 percent non‐competitive tax credit allocation for a Development that remains an active tax credit
development serving the same Target Population.
(7) Tenant Populations with Special Housing Needs. (§42(m)(1)(C)(v)) An Application may qualify to
receive two (2) points by serving Tenants with Special Housing Needs. Points will be awarded as
described in subparagraphs (A) and (B) of this paragraph.
(A) Applications meeting all of the requirements in clauses (i) – (iv) of this subparagraph are eligible
to receive two (2) points by committing to participate in the Department’s Section 811 Project Rental
Assistance Demonstration Program (“Section 811 Program”). In order to be eligible for points,
Applicants must commit the specified number of units in the proposed Development or be approved
by the Department to commit the same number of units in an existing Development in the Applicant’s
or an Affiliate’s portfolio that will qualify as Section 811 Program participating units as outlined in
the Department’s Section 811 Program guidelines and program requirements. An Application may
request a waiver from the Board for a specific requirement of the Section 811 Program on their
application. However, a request for a waiver does not guarantee eligibility for points. Participation in
the Section 811 Program will require execution of a Section 811 property agreement and other
required documents on or before HTC Commitment. Applicants who have applied to participate
under the 2014 Section 811 Program NOFA prior to their Application submission and receive an
award prior to July 1, 2015 may use units identified in that Section 811 Program application to
qualify for points under this paragraph, with the same number of units as would be required for the
new Application. The same units cannot be used to qualify for points in more than one HTC
Application. Once elected in the Application, Applicants may not withdraw their commitment to
participate in the Section 811 Program unless authorized by the Board. Should an Applicant receive
an award of HTCs, the Department may allow Applicants to substitute alternate units in an existing
Development in the Applicant’s or Affiliates’ portfolio, consistent with the Department’s Section 811
Program criteria, to participate in the Section 811 Program and to qualify for these points; such
properties require approval by the Department to commit the same number of units in an existing
Development in the Applicant’s or an Affiliate’s portfolio that will qualify as Section 811 Program
participating units as outlined in the Department’s Section 811 Program guidelines and program
requirements. Applicants must commit at least 10 Units for participation in the Section 811 Program
unless the Integrated Housing Rule (10 TAC §1.15) or Section 811 Program guidelines and program
requirements limits the Application to fewer than 10 Units. The total number of Units set‐aside for
persons with disabilities, including Section 811 units, cannot exceed 18% of the total Units (for
Development of 50 Units or more) or exceed 25% of the total Units (for Developments with less than
50 Units). In order to be eligible for these points, an Application is required to participate in the
Section 811 Program, unless any one of the following provisions under clauses (i) – (iv) of this
subparagraph are not met.
(i) The Development must not be a Qualified Elderly Development;
(ii) The Development must not be originally constructed before 1978;
(iii) The units committed to the Section 811 Program in the Development must not have any
other sources of project‐based rental or operating assistance; and
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(iv) The Development Site must be located in one of the following areas: Austin‐Round Rock
MSA, Brownsville‐Harlingen MSA, Dallas‐Fort Worth MSA; El Paso MSA; Houston‐The
Woodlands‐Sugar Land MSA; McAllen‐Edinburg‐Mission MSA; or San Antonio‐New
Braunfels MSA.
(B) Applications proposing Developments that do not meet the requirements of subparagraph (A) of this
paragraph may qualify for two (2) points for meeting the requirements of this subparagraph. In order to
qualify for points, Applicants must agree to set‐aside for Developments for which at least 5 percent of the
total Units are set aside for Persons with Special Needs. For purposes of this scoring item subparagraph,
Persons with Special Needs is defined as households where one individual has alcohol and/or drug
addictions, Colonia resident, Persons with Disabilities, Violence Against Women Act Protections
(domestic violence, dating violence, sexual assault, and stalking), persons with HIV/AIDS, homeless
populations, veterans, wounded warriors (as defined by the Caring for Wounded Warriors Act of 2008),
and migrant farm workers. Throughout the Compliance Period, unless otherwise permitted by the
Department, the Development Owner agrees to affirmatively market Units to Persons with Special Needs.
In addition, the Department will require an initial minimum twelve‐month period during which Units
must either be occupied by Persons with Special Needs or held vacant. After the initial twelve‐month
period, the Development Owner will no longer be required to hold Units vacant for Persons with Special
Needs, but will be required to continue to affirmatively market Units to Persons with Special Needs.
(d) Criteria promoting community support and engagement.
(1) Local Government Support. An Application may qualify for up to seventeen (17) points for a
resolution or resolutions voted on and adopted by the bodies reflected in subparagraphs (A) ‐(C) of this
paragraph, as applicable. The resolution(s) must be dated prior to April 1, 20152014Final Input from
Elected Officials Delivery Date and must be submitted to the Department no later than the Final Input
from Elected Officials Delivery Date as identified in §11.2 of this chapter. Such resolution(s) must
specifically identify the Development whether by legal description, address, Development name,
Application number or other verifiable method. In providing a resolution a municipality or county should
consult its own staff and legal counsel as to whether such resolution will be consistent with Fair Housing
laws as they may apply, including, as applicable, consistency with any FHAST form on file, any current
Analysis of Impediments to Fair Housing Choice, or any current plans such as one year action plans or
five year consolidated plans for HUD block grant funds, such as HOME or CDBG funds. For an Application
with a proposed Development Site that, at the time of the initial filing of the Application, is:
(A) Within a municipality, the Application will receive:
(i) seventeen (17) points for a resolution from the Governing Body of that municipality expressly
setting forth that the municipality supports the Application or Development; or
(ii) fourteen (14) points for a resolution from the Governing Body of that municipality expressly
setting forth that the municipality has no objection to the Application or Development.
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(B) Within the extraterritorial jurisdiction of a municipality, the Application may receive points
under clause (i) or (ii) of this subparagraph and under clause (iii) or (iv) of this subparagraph:
(i) eight and one‐half (8.5) points for a resolution from the Governing Body of that municipality
expressly setting forth that the municipality supports the Application or Development; or
(ii) seven (7) points for a resolution from the Governing Body of that municipality expressly
setting forth that the municipality has no objection to the Application or Development; and
(iii) eight and one‐half (8.5) points for a resolution from the Governing Body of that county
expressly setting forth that the county supports the Application or Development; or
(iv) seven (7) points for a resolution from the Governing Body of that county expressly setting
forth that the county has no objection to the Application or Development.
(C) Within a county and not within a municipality or the extraterritorial jurisdiction of a
municipality:
(i) seventeen (17) points for a resolution from the Governing Body of that county expressly
setting forth that the county supports the Application or Development; or
(ii) fourteen (14) points for a resolution from the Governing Body of that county expressly
setting forth that the county has no objection to the Application or Development.
(2) Commitment of Development Funding by Local Political Subdivision. (§2306.6710(b)(1)(E)) An
Application may receive up to fourteen (14) points for a commitment of Development funding from the
city (if located in a city) or county in which the Development Site is located. Development funding from
instrumentalities of a city or county will not qualify for points under this scoring item unless such
instrumentalities first award the funds to the city or county for their administration, at least 60 percent of
the governing board of the instrumentality consists of city council members from the city in which the
Development Site is located (if located in a city) or county commissioners from the county in which the
Development Site is located, or 100 percent of the governing board of the instrumentality is appointed by
the elected officials of the city in which the Development Site is located (if located within a city) or county
in which the Development Site is located. The government instrumentality providing Development
funding under this scoring item may not be a Related Party to the Applicant. Development funding must
be provided in the form of a construction and/or permanent loan with an interest rate no higher than 3
percent per annum and term of at least 5 years, a grant, an in‐kind contribution, a contribution which will
support the Development, such as vouchers, or combination thereof. Funds cannot have been provided to
the Local Political Subdivision by the Applicant or a Related Party. Should the Local Political Subdivision
borrow funds in order to commit funding to the Development, the Applicant or a Related Party to the
Applicant can provide collateral or guarantees for the loan only to the Local Political Subdivision. HOME
Investment Partnership Program or Community Development Block Grant funds administered by the
State of Texas cannot be utilized for points under this scoring item except where the city, county, or
instrumentality is an actual applicant for and subrecipient of such funds for use in providing financial
support to the proposed Development. The Applicant must provide evidence in the Application that an
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application or request for the development funds has been submitted in the form of an acknowledgement
from the applicable city or county. The acknowledgement must also state that a final decision with regard
to the awards of such funding is expected to occur no later than September 1. A firm commitment of
funds is required by Commitment or points will be lost (except for Applicants electing the point under
subparagraph (C) of this paragraph). While the specific source can change, the funding secured must have
been eligible at the time the Application was submitted.
(A) Option for Development Sites located in the ETJ of a municipality. For an Application with a
Development Site located in the ETJ of a municipality, whether located in an unincorporated Place or
not, the Applicant may seek Development funding from the municipality or a qualifying
instrumentality of the municipality, provided the Applicant uses the population of said municipality
as the basis for determining the Application's eligible points under subparagraph (B) of this
paragraph. Applicants are encouraged to contact Department staff where an Applicant is uncertain of
how to determine the correct Development funding amounts or qualifying Local Political
Subdivisions.
(B) Applications will qualify for points based on the amount of funds at the levels described in
clauses (i) ‐ (v) of this subparagraph. For the purpose of this calculation, the Department will use the
population of the Place from which the Development Site's Rural or Urban Area designation is
derived.
(i) eleven (11) points for a commitment by a Local Political Subdivision of the lesser of the
population of the Place multiplied by a factor of 0.15 in funding per Low Income Unit or $15,000
in funding per Low Income Unit;
(ii) ten (10) points for a commitment by a Local Political Subdivision of the lesser of the
population of the Place multiplied by a factor of 0.10 in funding per Low Income Unit or $10,000
in funding per Low Income Unit;
(iii) nine (9) points for a commitment by a Local Political Subdivision of the lesser of population
of the Place multiplied by a factor of 0.05 in funding per Low Income Unit or $5,000 in funding
per Low Income Unit;
(iv) eight (8) points for a commitment by a Local Political Subdivision of the lesser of the
population of the Place multiplied by a factor of 0.025 in funding per Low Income Unit or $1,000
in funding per Low Income Unit; or
(v) seven (7) points for a commitment by a Local Political Subdivision of the lesser of the
population of the Place multiplied by a factor of 0.01 in funding per Low Income Unit or $500 in
funding per Low Income Unit.
(C) Two (2) points may be added to the points in subparagraph (B)(i) ‐ (v) of this paragraph and
subparagraph (D) of this paragraph if the Applicant provides a firm commitment for funds in the
form of a resolution from the Local Political Subdivision and provides a commitment for the same
source(s) at Commitment. The resolution must reflect terms that are consistent with the
requirements of this paragraph.
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(D) One (1) point may be added to the points in subparagraph (B)(i) ‐ (v) of this paragraph and
subparagraph (C) of this paragraph if the financing to be provided is in the form of a grant or in‐kind
contribution meeting the requirements of this paragraph or a permanent loan with a minimum term
of fifteen (15) years, minimum amortization period of thirty (30) years, and interest rate no higher
than 3 percent per annum. An Applicant must certify that they intend to maintain the Development
funding for the full term of the funding, barring unanticipated events. For Applicants electing this
additional point that have not yet received an award or commitment, the structure of the funds will
be reviewed at Commitment for compliance with this provision.
(3) Declared Disaster Area. (§2306.6710(b)(1)) An Application may receive ten (10) points if at the time
of Application submission or at any time within the two‐year period preceding the date of submission,
the Development Site is located in an area declared to be a disaster area under the Texas Government
Code, §418.014.
(4) Quantifiable Community Participation. (§2306.6710(b)(1)(B); §2306.6725(a)(2)) An Application may
qualify for up to nine (9) points for written statements from a Neighborhood Organization. In order for the
statement to qualify for review, the Neighborhood Organization must have been in existence prior to the Pre‐
Application Final Delivery Date, and its boundaries must contain the Development Site. In addition, the
Neighborhood Organization must be on record with the state (includes the Department) or county in which
the Development Site is located. Neighborhood Organizations may request to be on record with the
Department for the current Application Round with the Department by submitting documentation (such as
evidence of board meetings, bylaws, etc.) prior to the beginning of the Application Acceptance PeriodFull
Application Delivery Date. The written statement must meet the requirements in subparagraph (A) of this
paragraph.
(A) Statement Requirements. If an organization cannot make the following affirmative certifications
or statements then the organization will not be considered a Neighborhood Organization for
purposes of this paragraph.
(i) the Neighborhood Organization's name, a written description and map of the organization's
boundaries, signatures and contact information (phone, email and mailing address) of at least
two individual members with authority to sign on behalf of the organization;
(ii) certification that the boundaries of the Neighborhood Organization contain the Development
Site and that the Neighborhood Organization meets the definition pursuant to Texas Government
Code, §2306.004(23‐a) and includes at least two separate residential households;
(iii) certification that no person required to be listed in accordance with Texas Government Code
§2306.6707 with respect to the Development to which the Application requiring their listing
relates participated in any way in the deliberations of the Neighborhood Organization, including
any votes taken;
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(iv) certification that at least 80 percent of the current membership of the Neighborhood
Organization consists of persons residing or owning real property within the boundaries of the
Neighborhood Organization; and
(v) an explicit expression of support, opposition, or neutrality. Any expression of opposition
must be accompanied with at least one reason forming the basis of that opposition. A
Neighborhood Organization is encouraged to be prepared to provide additional information with
regard to opposition.
(B) Technical Assistance. For purposes of this section, if and only if there is no Neighborhood
Organization already in existence or on record, the Applicant, Development Owner, or Developer is
allowed to provide technical assistance in the creation of and/or placing on record of a
Neighborhood Organization. Technical assistance is limited to:
(i) the use of a facsimile, copy machine/copying, email and accommodations at public meetings;
(ii) assistance in completing the QCP Neighborhood Information Packet, providing boundary
maps and assisting in the Administrative Deficiency process; and
(iii) presentation of information and response to questions at duly held meetings where such
matter is considered.
(C) Point Values for Quantifiable Community Participation. An Application may receive points based
on the values in clauses (i) ‐ (vi) of this subparagraph. Points will not be cumulative. Where more
than one written statement is received for an Application, the average of all statements received in
accordance with this subparagraph will be assessed and awarded.
(i) nine (9) points for explicit support from a Neighborhood Organization that, during at least
one of the three prior Application Rounds, provided a written statement that qualified as
Quantifiable Community Participation opposing any Competitive Housing Tax Credit Application
and whose boundaries remain unchanged;
(ii) eight (8) points for explicitly stated support from a Neighborhood Organization;
(iii) six (6) points for explicit neutrality from a Neighborhood Organization that, during at least
one of the three prior Application Rounds provided a written statement, that qualified as
Quantifiable Community Participation opposing any Competitive Housing Tax Credit Application
and whose boundaries remain unchanged;
(iv) four (4) points for statements of neutrality from a Neighborhood Organization or statements
not explicitly stating support or opposition, or an existing Neighborhood Organization provides
no statement of either support, opposition or neutrality, which will be viewed as the equivalent
of neutrality or lack of objection;
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(v) four (4) points for areas where no Neighborhood Organization is in existence, equating to
neutrality or lack of objection, or where the Neighborhood Organization did not meet the explicit
requirements of this section; or
(vi) zero (0) points for statements of opposition meeting the requirements of this subsection.
(D) Challenges to opposition. Any written statement from a Neighborhood Organization expressing
opposition to an Application may be challenged if it is contrary to findings or determinations,
including zoning determinations, of a municipality, county, school district, or other local
Governmental Entity having jurisdiction or oversight over the finding or determination. If any such
statement is challenged, the challenger must declare the basis for the challenge and submit such
challenge by the Challenges to Neighborhood Organization Opposition Delivery Date as identified in
§11.2 of this chapter. The Neighborhood Organization expressing opposition will be given seven (7)
calendar days to provide any information related to the issue of whether their assertions are
contrary to the findings or determinations of a local Governmental Entity. All such materials and the
analysis of the Department's staff will be provided to a fact finder, chosen by the Department, for
review and a determination of the issue presented by this subsection. The fact finder will not make
determinations as to the accuracy of the statements presented, but only with regard to whether the
statements are contrary to findings or determinations of a local Governmental Entity. The fact
finder's determination will be final and may not be waived or appealed.
(5) Community Support from State Representative. (§2306.6710(b)(1)(F); §2306.6725(a)(2))
Applications may receive up to eight (8) points or have deducted up to eight (8) points for this scoring
item. To qualify under this paragraph letters must be on the State Representative's letterhead, be signed
by the State Representative, identify the specific Development and clearly state support for or opposition
to the specific Development. This documentation will be accepted with the Application or through
delivery to the Department from the Applicant or the State Representative and must be submitted no
later than the Final Input from Elected Officials Delivery Date as identified in §11.2 of this chapter. Once a
letter is submitted to the Department it may not be changed or withdrawn. Therefore, it is encouraged
that letters not be submitted well in advance of the specified deadline in order to facilitate consideration
of all constituent comment and other relevant input on the proposed Development. State Representatives
to be considered are those in office at the time the letter is submitted and whose district boundaries
include the Development Site. Neutral letters or letters that do not specifically refer to the Development
or specifically express support or opposition will receive zero (0) points. A letter that does not directly
express support but expresses it indirectly by inference (e.g. "the local jurisdiction supports the
Development and I support the local jurisdiction") will be treated as a neutral letter.
(6) Input from Community Organizations. Where the Development Site does not fall within the
boundaries of any qualifying Neighborhood Organization, then, in order to ascertain if there is
community support, an Application may receive up to four (4) points for letters that qualify for points
under subparagraphs (A), (B), and/or (C) of this paragraph. No more than four (4) points will be awarded
under this point item under any circumstances. All letters must be submitted within the Application.
Should an Applicant elect this option and the Application receives letters in opposition, then one (1) point
will be subtracted from the score under this paragraph for each letter in opposition, provided that the
letter is from an organization that would otherwise qualify under this paragraph. However, at no time
will the Application receive a score lower than zero (0) for this item.
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(A) An Application may receive two (2) points for each letter of support submitted from a community
or civic organization that serves the community in which the Development Site is located. Letters of
support must identify the specific Development and must state support of the specific Development
at the proposed location. To qualify, the organization must be qualified as tax exempt and have as a
primary (not ancillary or secondary) purpose of the overall betterment, development, or
improvement of the community as a whole or of a major aspect of the community such as
improvement of schools, fire protection, law enforcement, city‐wide transit, flood mitigation, or the
like. The community or civic organization must provide some documentation of its tax exempt status
and its existence and participation in the community in which the Development Site is located
including, but not limited to, a listing of services and/or members, brochures, annual reports, etc.
Letters of support from organizations that cannot provide reasonable evidence that they are active in
the area that includes the location of the Development Site will not be awarded points. For purposes
of this subparagraph, community and civic organizations do not include neighborhood organizations,
governmental entities (excluding Special Management Districts), or taxing entities.
(B) An Application may receive two (2) points for a letter of support from a property owners
association created for a master planned community whose boundaries include the Development Site
and that does not meet the requirements of a Neighborhood Organization for the purpose of
awarding points under paragraph (4) of this subsection.
(C) An Application may receive two (2) points for a letter of support from a Special Management
District whose boundaries, as of the Full Application Delivery Date as identified in §11.2 of this
chapter (relating to Program Calendar for Competitive Housing Tax Credits), include the
Development Site.
(D) Input that evidences unlawful discrimination against classes of persons protected by Fair
Housing law or the scoring of which the Department determines to be contrary to the Department's
efforts to affirmatively further fair housing will not be considered. If the Department receives input
that could reasonably be suspected to implicate issues of non‐compliance under the Fair Housing Act,
staff will refer the matter to the Texas Workforce Commission for investigation, but such referral will
not, standing alone, cause staff or the Department to terminate the Application. Staff will report all
such referrals to the Board and summarize the status of any such referrals in any recommendations.
(7) Community Revitalization Plan. An Application may qualify for points under this paragraph only if no
points are elected under subsection (c)(4) of this section, related to Opportunity Index.
(A) For Developments located in an Urban Area of Region 3.
(i) An Application may qualify to receive up to six (6) points if the Development Site is located in
an area targeted for revitalization in a community revitalization plan that meets the criteria
described in subclauses (I) ‐ (VI) of this clause:
(I) The community revitalization plan must have been adopted by the municipality or county
in which the Development Site is located.
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(II) The adopting municipality or county must have performed, in a process providing for
public input, an assessment of the factors in need of being addressed as a part of such
community revitalization plan. Factors assessed must include at least five (5) of the following
eight (8) factors:
(‐a‐) adverse environmental conditions, natural or manmade, that are material in nature
and are inconsistent with the general quality of life in typical average income
neighborhoods. By way of example, such conditions might include significant and
recurring flooding, presence of hazardous waste sites or ongoing localized emissions not
under appropriate remediation, nearby heavy industrial uses, or uses presenting
significant safety or noise concerns such as major thoroughfares, nearby active railways
(other than commuter trains), or landing strips; significant and widespread (e.g. not
localized to a small number of businesses or other buildings) rodent or vermin infestation
acknowledged to present health risks requiring a concerted effort; or fire hazards;
(‐b‐) presence of blight, which may include excessive vacancy, obsolete land use,
significant decline in property value, or other similar conditions that impede growth;
(‐c‐) presence of inadequate transportation or infrastructure;
(‐d‐) lack of accessibility to and/or presence of inadequate health care facilities, law
enforcement and fire fighting facilities, social and recreational facilities, and other public
facilities comparable to those typically found in neighborhoods containing comparable
but unassisted housing;
(‐e‐) the presence of significant crime;
(‐f‐) the lack of or poor condition and/or performance of public education;
(‐g‐) the lack of local business providing employment opportunities; or
(‐h‐) efforts to promote diversity, including multigenerational diversity, economic
diversity, etcetera, where it has been identified in the planning process as lacking.
(III) The target area must be larger than the assisted housing footprint and should be limited
in size along the lines of specific neighborhoods rather than encompassing large areas of a
city or county. Staff will review the target areas for presence of the factors identified in
subclause (II) of this clause.
(IV) The adopted plan, taken as a whole, must be a plan that can reasonably be expected to
revitalize the neighborhood and address in a substantive and meaningful way the material
factors identified in subclause (II) of this clause. Generally, because revitalization must
identify specific matters needing to be addressed by revitalization and provide a plan and
budget specifically directed to those identified issues, revitalization will be considered
distinct and separate from broader economic development efforts.
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(V) The adopted plan must describe the planned budget and uses of funds to accomplish its
purposes within the applicable target area. To the extent that expenditures, incurred within
four (4) years prior to the beginning of the Application Acceptance Period, have already
occurred in the applicable target area, a statement from a city or county official concerning
the amount of the expenditure and purpose of the expenditure may be submitted.
(VI) To be eligible for points under this item, the community revitalization plan must already
be in place as of the Full Application Final Delivery Date pursuant to §11.2 of this chapter
evidenced by a letter from the appropriate local official stating that:
(‐a‐) the plan was duly adopted with the required public input processes followed;
(‐b‐) the funding and activity under the plan has already commenced; and
(‐c‐) the adopting municipality or county has no reason to believe that the overall funding
for the full and timely implementation of the plan will be unavailable.
(ii) Points will be awarded based on:
(I) Applications will receive four (4) points if the applicable target area of the community
revitalization plan has a total budget or projected economic value of $6,000,000 or greater; or
(II) Applications will receive two (2) points if the applicable target area of the community
revitalization plan has a total budget or projected economic value of at least $4,000,000; and
(III) Applications may receive (2) points in addition to those under subclause (I) or (II) of this
clause if the Development is explicitly identified by the city or county as contributing most
significantly to the concerted revitalization efforts of the city or county (as applicable). A city
or county may only identify one single Development during each Application Round for the
additional points under this subclause. A resolution from the Governing Body of the city or
county that approved the plan is required to be submitted in the Application (this resolution
is not required at pre‐application). If multiple Applications submit resolutions under this
subclause from the same Governing Body, none of the Applications shall be eligible for the
additional points. A city or county may, but is not required, to identify a particular Application
as contributing most significantly to concerted revitalization efforts.
(B) For Developments located in Urban Areas outside of Region 3.
(i) An Application may qualify for up to six (6) points for meeting the criteria under
subparagraph (A) of this paragraph (with the exception of being located in Region 3); or
(ii) An Application will qualify for four (4) points if the city or county has an existing plan for
Community Development Block Grant ‐ Disaster Relief Program (CDBG‐DR) funds that meets the
requirements of subclauses (I) ‐(V) of this clause. To qualify for points, the Development Site
must be located in the target area defined by the plan, and the Application must have a
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commitment of CDBG‐DR funds. The plan (in its entirety) and a letter from a local government
official with specific knowledge and oversight of implementing the plan are included in the
Application and must:
(I) define specific target areas for redevelopment of housing that do not encompass the
entire jurisdiction;
(II) be subject to administration in a manner consistent with an approved Fair Housing
Activity Statement‐Texas (FHAST);
(III) be subject to administration in a manner consistent with the findings of an Analysis of
Impediments approved or accepted by HUD within the last three (3) calendar years or an
approved Fair Housing Activity Statement‐Texas (FHAST), approved by the Texas General
Land Office;
(IV) certify that the plan and the Application are consistent with the adopting municipality
or county's plan to affirmatively further fair housing under the Fair Housing Act; and
(V) be in place prior to the Full Application Final Delivery Date.
(C) For Developments located in a Rural Area.
(i) An Application may qualify for up to four (4) points for meeting the criteria under
subparagraph (B) of this paragraph if located outside of Region 3 (with the exception of being
located in an Urban Area); or
(ii) The requirements for community revitalization in a Rural Area are distinct and separate from
the requirements related to community revitalization in an Urban Area in that the requirements
in a Rural Area relate primarily to growth and expansion indicators. An Application may qualify
for up to four (4) points if the city, county, state, or federal government has approved expansion
of basic infrastructure or projects, as described in this paragraph. Approval cannot be
conditioned upon the award of tax credits or on any other event (zoning, permitting,
construction start of another development, etc.) not directly associated with the particular
infrastructure expansion. The Applicant, Related Party, or seller of the Development Site cannot
contribute funds for or finance the project or infrastructure, except through the normal and
customary payment of property taxes, franchise taxes, sales taxes, impact fees and/or any other
taxes or fees traditionally used to pay for or finance such infrastructure by cities, counties, state
or federal governments or their related subsidiaries. The project or expansion must have been
completed no more than twelve (12) months prior to the beginning of the Application
Acceptance Period or have been approved and is projected to be completed within twelve (12)
months from the beginning of the Application Acceptance Period. An Application is eligible for
two (2) points for one of the items described in subclauses (I) ‐ (V) of this clause or four (4)
points for at least two (2) of the items described in subclauses (I) ‐ (V) of this clause:
(I) New paved roadway (may include paving an existing non‐paved road but excludes
overlays or other limited improvements) or expansion of existing paved roadways by at least
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one lane (excluding very limited improvements such as new turn lanes or restriping), in
which a portion of the new road or expansion is within one half (1/2) mile of the
Development Site;
(II) New water service line (or new extension) of at least 500 feet, in which a portion of the
new line is within one half (1/2) mile of the Development Site;
(III) New wastewater service line (or new extension) of at least 500 feet, in which a portion
of the new line is within one half (1/2) mile of the Development Site;
(IV) Construction of a new law enforcement or emergency services station within one (1)
mile of the Development Site that has a service area that includes the Development Site; and
(V) Construction of a new hospital or expansion of an existing hospital's capacity by at least
25 percent within a five (5) mile radius of the Development Site and ambulance service to
and from the hospital is available at the Development Site. Capacity is defined as total
number of beds, total number of rooms or total square footage of the hospital.
(iii) To qualify under clause (ii) of this subparagraph, the Applicant must provide a letter from a
government official with specific knowledge of the project (or from an official with a private
utility company, if applicable) which must include:
(I) the nature and scope of the project;
(II) the date completed or projected completion;
(III) source of funding for the project;
(IV) proximity to the Development Site; and
(V) the date of any applicable city, county, state, or federal approvals, if not already
completed.
(e) Criteria promoting the efficient use of limited resources and applicant accountability.
(1) Financial Feasibility. (§2306.6710(b)(1)(A)) An Application may qualify to receive a maximum of
eighteen (18) points for this item. To qualify for points, a 15‐year pro forma itemizing all projected
income including Unit rental rate assumptions, operating expenses and debt service, and specifying the
underlying growth assumptions and reflecting a minimum must‐pay debt coverage ratio of 1.15 for each
year must be submitted. The pro forma must include the signature and contact information evidencing
that it has been reviewed and found to be acceptable by an authorized representative of a proposed Third
Party construction or permanent lender. An acceptable form of lender approval letter is found in the
application. If the letter evidences review of the Development alone it will receive sixteen (16) points. If
the letter evidences review of the Development and the Principals, it will receive eighteen (18) points.
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(2) Cost of Development per Square Foot. (§2306.6710(b)(1)(H); §42(m)(1)(C)(iii)) An Application may
qualify to receive up to twelve (12) points based on either the Building Cost or the Hard Costs per square
foot of the proposed Development, as originally submitted in the Application. For purposes of this
paragraph, Building Costs will exclude structured parking or commercial space that is not included in
Eligible Basis, and Hard Costs will include general contractor overhead, profit, and general requirements.
Structured parking or commercial space costs must be supported by a cost estimate from a Third Party
General Contractor or subcontractor with experience in structured parking or commercial construction,
as applicable. The square footage used will be the Net Rentable Area (NRA). The calculations will be
based on the cost listed in the Development Cost Schedule and NRA shown in the Rent Schedule.
(A) A high cost development is a Development that meets one of the following conditions:
(i) the Development is elevator served, meaning it is either a Qualified Elderly Development with
an elevator or a Development with one or more buildings any of which have elevators serving
four or more floors;
(ii) the Development is more than 75 percent single family design;
(iii) the Development is Supportive Housing; or
(iv) the Development Site qualifies for five (5) or seven (7) points under subsection (c)(4) of this
section, related to Opportunity Index, and is located in an Urban Area.
(B) Applications proposing New Construction or Reconstruction will be eligible for twelve (12)
points if one of the following conditions is met:
(i) The Building Cost per square foot is less than $70 per square foot;
(ii) The Building Cost per square foot is less than $75 per square foot, and the Development
meets the definition of a high cost development;
(iii) The Hard Cost per square foot is less than $90 per square foot; or
(iv) The Hard Cost per square foot is less than $100 per square foot, and the Development meets
the definition of high cost development.
(C) Applications proposing New Construction or Reconstruction will be eligible for eleven (11) points
if one of the following conditions is met:
(i) The Building Cost per square foot is less than $75 per square foot;
(ii) The Building Cost per square foot is less than $80 per square foot, and the Development
meets the definition of a high cost development;
(iii) The Hard Cost per square foot is less than $95 per square foot; or
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(iv) The Hard Cost per square foot is less than $105 per square foot, and the Development meets
the definition of high cost development.
(D) Applications proposing New Construction or Reconstruction will be eligible for ten (10) points if
one of the following conditions is met:
(i) The Building Cost is less than $90 per square foot; or
(ii) The Hard Cost is less than $110 per square foot.
(E) Applications proposing Adaptive Reuse or Rehabilitation (excluding Reconstruction) will be
eligible for points if one of the following conditions is met:
(i) Twelve (12) points for Applications which include Hard Costs plus acquisition costs included
in Eligible Basis that are less than $100 per square foot;
(ii) Twelve (12) points for Applications which include Hard Costs plus acquisition costs included
in Eligible Basis that are less than $130 per square foot, located in an Urban Area, and that
qualify for 5 or 7 points under subsection (c)(4) of this section, related to Opportunity Index; or
(iii) Eleven (11) points for Applications which include Hard Costs plus acquisition costs included
in Eligible Basis that are less than $130 per square foot.
(3) Pre‐application Participation. (§2306.6704) An Application may qualify to receive up to six (6) points
provided a pre‐application was submitted during the Pre‐Application Acceptance Period. Applications
that meet the requirements described in subparagraphs (A) ‐ (G) of this paragraph will qualify for sixfour
(64) points:
(A) The total number of Units does not increase by more than ten (10) percent from pre‐application
to Application;
(B) The designation of the proposed Development as Rural or Urban remains the same;
(C) The proposed Development serves the same Target Population;
(D) The pre‐application and Application are participating in the same set‐asides (At‐Risk, USDA, Non‐
Profit, and/or Rural);
(E) The Application final score (inclusive of only scoring items reflected on the self score form) does
not vary by more than six (6) points from what was reflected in the pre‐application self score;
(F) The Development Site at Application is at least in part the Development Site at pre‐application,
and the census tract number listed at pre‐application is the same at Application; and
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(G) The pre‐application met all applicable requirements.
(4) Leveraging of Private, State, and Federal Resources. (§2306.6725(a)(3))
(A) An Application may qualify to receive up to three (3) points if at least five (5) percent of the total
Units are restricted to serve households at or below 30 percent of AMGI (restrictions elected under
other point items may count) and the Housing Tax Credit funding request for the proposed
Development meet one of the levels described in clauses (i) ‐ (iv) of this subparagraph:
(i) the Development leverages CDBG Disaster Recovery, HOPE VI, RAD, or Choice Neighborhoods
funding and the Housing Tax Credit Funding Request is less than 9 percent of the Total Housing
Development Cost (3 points). The Application must include a commitment of such funding; or
(ii) If the Housing Tax Credit funding request is less than 8 percent of the Total Housing
Development Cost (3 points); or
(iii) If the Housing Tax Credit funding request is less than 9 percent of the Total Housing
Development Cost (2 points); or
(iv) If the Housing Tax Credit funding request is less than 10 percent of the Total Housing
Development Cost (1 point).
(B) The calculation of the percentages stated in subparagraph (A) of this paragraph will be based
strictly on the figures listed in the Funding Request and Development Cost Schedule. Should staff
issue an Administrative Deficiency that requires a change in either form, then the calculation will be
performed again and the score adjusted, as necessary. However, points may not increase based on
changes to the Application. In order to be eligible for points, no more than 50 percent of the
developer fee can be deferred. Where costs or financing change after completion of underwriting or
award (whichever occurs later), the points attributed to an Application under this scoring item will
not be reassessed unless there is clear evidence that the information in the Application was
intentionally misleading or incorrect.
(5) Extended Affordability or Historic Preservation. (§§2306.6725(a)(5); 2306.111(g)(3)(C);
2306.185(a)(1) and (c); 2306.6710(e)(2); and 42(m)(1)(B)(ii)(II)) An Application may qualify to receive
up to four (4) points for this scoring item.
(A) In accordance with the Code, each Development is required to maintain its affordability for a 15‐
year compliance period and, subject to certain exceptions, an additional 15‐year extended use period.
Development Owners that agree to extend the affordability period for a Development to thirty‐five
(35) years total may receive two (2) points; or
(B) An Application includes a tax credit request amounting to less than or equal to $7,000 per HTC
unit, that has received a letter from the Texas Historical Commission determining preliminary
eligibility for historic (rehabilitation) tax credits and is proposing the use of historic (rehabilitation)
tax credits (whether federal or state credits). At least one existing building that will be part of the
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Development must reasonably be expected to qualify to receive and document receipt of historic tax
credits by issuance of Forms 8609. An Application may qualify to receive four (4) points under this
provision.
(6) Right of First Refusal. (§2306.6725(b)(1); §42(m)(1)(C)(viii)) An Application may qualify to receive
(1 point) for Development Owners that will agree to provide a right of first refusal to purchase the
Development upon or following the end of the Compliance Period in accordance with Texas Government
Code, §2306.6726 and the Department's rules including §10.407 of this title (relating to Right of First
Refusal) and §10.408 of this title (relating to Qualified Contract Requirements).
(7) Funding Request Amount. An Application may qualify to receive one (1) point if the Application
reflects a Funding Request of Housing Tax Credits, as identified in the original Application submission, of
no more than 100% of the amount available within the sub‐region or set‐aside as estimated by the
Department as of December 1, 20142013.
(f) Point Adjustments.
Staff will recommend to the Board and the Board may make a deduction of up to five (5) points for any of the
items listed in paragraph (1) of this subsection, unless the person approving the extension (the Board or
Executive Director, as applicable) makes an affirmative finding setting forth that the facts which gave rise to
the need for the extension were beyond the reasonable control of the Applicant and could not have been
reasonably anticipated. Any such matter to be presented for final determination of deduction by the Board
must include notice from the Department to the affected party not less than fourteen (14) days prior to the
scheduled Board meeting. The Executive Director may, but is not required, to issue a formal notice after
disclosure if it is determined that the matter does not warrant point deductions. (§2306.6710(b)(2))
(1) If the Applicant or Affiliate failed to meet the original Carryover submission or 10 percent Test
deadline(s) or has requested an extension of the Carryover submission deadline, the 10 percent Test
deadline (relating to either submission or expenditure).
(2) If the Developer or Principal of the Applicant violates the Adherence to Obligations.
(3) Any deductions assessed by the Board for paragraph (1) or (2) of this subsection based on a Housing
Tax Credit Commitment from the preceding Application Round will be attributable to the Applicant or
Affiliate of an Application submitted in the current Application Round.
§11.10.Challenges of Competitive HTC Applications.
The Department will address challenges received from unrelated entities to a specific active Application. The
Department will utilize a preponderance of the evidence standard, and determinations made by the
Department concerning challenges cannot be appealed by a party unrelated to the Applicant that is the
subject of the challenge. The challenge process is reflected in paragraphs (1) ‐ (13) of this section. A matter,
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even if raised as a challenge, that staff determines should be treated as an Administrative Deficiency will be
treated and handled as an Administrative Deficiency, not as a challenge.
(1) The cChallenges to Applications (excluding Site Challenges) must be received by the Department no
later than the Application Challenges Deadline as identified in §11.2 of this chapter (relating to Program
Calendar for Competitive Housing Tax Credits) and must be accompanied by the corresponding non‐
refundable challenge processing fee as described in §10.901 of this title (relating to Fee Schedule).
Challenges related to Undesirable Site Features and Undesirable Neighborhood Characteristics are due no
later than the Site Challenges Delivery Date as identified in §11.2 of this chapter (relating to pProgram
Calendar for Competitive Housing Tax Credits). Unless the required fee is received with the challenge, no
challenge will be deemed to have been submitted, and the challenge fee must be paid for each Application
challenged by a challenger.
(2) A challenge must be clearly identified as such, using that word in all capital letters at the top of the
page, and it must state the specific identity of and contact information for the person making the challenge
and, if they are acting on behalf of anyone else, on whose behalf they are acting.
(3) Challengers must provide, at the time of filing the challenge, ally briefings, documentation, and other
information that the challenger offers in support of the challenge. Challengers must provide sufficient
credible evidence that, if confirmed, would substantiate the challenge. Assertions not accompanied by
supporting documentation susceptible to confirmation will not be considered.
(4) Challenges to the financial feasibility of the proposed Development are premature unless final
underwriting reports on the challenged Application have been posted to the Department's website.
(5) Challenges relating to undesirable area site features and undesirable neighborhood characteristics as
described in §§10.101(a)(3) and (4) of this title (relating to Site and Development Requirements and
Restrictions) are due by the Site Challenges Delivery Date and may will not be accepted unless they relate
to a failure to disclose characteristics described in §10.101(a)(4)(A) of this title or the presence of other
characteristics that may deem the Site ineligible.substantive issues not already disclosed or a material
misrepresentation about a disclosed item.
(6) Challengers are encouraged to be prudent in identifying issues to challenge, realizing that most issues
will be identified and addressed through the routine review and Administrative Deficiency process;
(7) Once a challenge onto an Application has been submitted, subsequent challenges on the same
Application from the same challenger will not be accepted;
(8) The Department shall promptly post all items received and purporting to be challenges and any
pertinent information to its website;
(9) The Department shall notify the Applicant that a challenge was received within seven (7) days of
receipt of the challenge deadline;
Page 37 of 38
Housing Tax Credit Qualified Allocation Plan 20142015
(10) Where, upon review by staff, an issue is not clearly resolved, staff may send an Applicant an
Administrative Deficiency notice to provide the Applicant with a specific issue in need of clarification and
time to address the matter in need of clarification as allowed by the rules related to Administrative
Deficiencies;
(11) The Applicant must may provide a response regarding the challenge and any such response must be
provided within fourteen (14) days of their receipt of the challenge;
(12) The Department shall promptly post its determinations of all matters submitted as challenges.
Because of statutory requirements regarding the posting of materials to be considered by the Board, staff
may be required to provide information on late received items relating to challenges as handouts at a
Board meeting; and
(13) Staff determinations regarding all challenges will be reported to the Board.
Page 38 of 38
City Council Agenda Item Report
Contact – Chance Sparks, AICP, CNUa, Director of Planning
512-312-0084
csparks@ci.buda.tx.us
SUBJECT: DELIBERATION AND POSSIBLE ACTION REGARDING RESOLUTIONS OF FINANCIAL
COMMITMENT TO ACCOMPANY APPLICATIONS TO THE LOW INCOME HOUSING TAX
CREDIT PROGRAM FOR PROPOSED DEVELOPMENTS LOCATED AT THE SOUTHEAST
CORNER OF ROBERT S. LIGHT AND SOUTH FM 967 (PICERNE LONGHORN’S
LANDING), AND/OR NEAR THE NORTHEAST CORNER OF ROBERT S. LIGHT AND
SOUTH FM 967 (AMTEX BUDA).
1. BACKGROUND/HISTORY
This is the action item associated with the requests for support and financial
participation related to the Low Income Housing Tax Credit Program. Each applicant
will make a presentation to City Council under a separate agenda item.
On January 21, 2014, staff provided a presentation on the background of the Low
Income Housing Tax Credit (LIHTC) Program, including its history & purpose, how it
works, what constitutes “low-income” in the context of the program, income & rental
rate information and descriptions/locations of similar projects located in or near
Buda. The goal of the presentation was to seek feedback from City Council in order
to determine what information staff should request from each applicant. City Council
provided feedback, which was incorporated into a request for information from each
applicant.
On February 18, 2014, City Council considered resolutions of support and
resolutions of financial commitment following presentations from each applicant. The
City Council approved resolutions of support for the following projects:
• AMTEX Buda for Villas at Buda
• Picerne for Longhorn’s Landing
However, City Council did not approve any resolutions of financial commitment. City
Council has called this special meeting to consider such resolutions of financial
commitment.
2. FINDINGS/CURRENT ACTIVITY
Staff received more specific information from AMTEX Buda and Picerne regarding
their respective projects and their requests for financial commitment.
There were several questions raised by City Council on February 18, 2014 regarding
the structure of financial commitments. A city funding commitment by use of a loan
(what both are asking for) must meet certain rules under TDHCA’s regulations.
These include a restriction that the loan term be at least 15 years, minimum
amortization period of 30 years, and an interest rate no higher than 3%. The interest
rate restriction is designed as a mechanism to keep cities from profiting substantially
while also attempting to prevent loss through inflation. Also, such a loan can include
a processing fee to cover the costs of administering the loan. Likewise, the loan can
include penalty provisions for late or missed payments, including a penalty interest
rate. Finally, the City can require a loan origination fee (typically 2% of the principal
amount). It is worth noting that the method of commitment does not have to be
finalized until September 1, 2014. If the financial terms or project overall is
failing to meet City Council expectations before then, the City Council can
withdraw support.
Both projects are located in I1 zoning, which allows multifamily by special use
permit. This provides the City opportunity to address any number of design related
issues specific to each project, such as traffic flow, buffering, landscaping, site
design, etc. Special use permits are processed in a similar manner to zoning
changes, with public hearings and action before both the Planning & Zoning
Commission and City Council.
3. FINANCIAL IMPACT
Each applicant has provided a description of their anticipated financial proposal
based upon feedback received from City Council and City Staff.
AMTEX
• Loan for project-related fees on 15+ year term, amortized over 30 years with
an interest rate of 3% and no pre-payment penalty.
• Principal amount: $181,000
o Estimate $93,717 in interest paid over a 30 year amortization
o Estimate total amount repaid to the City of $274,717 assuming equal
payments made monthly over a 30 year period
• Willing to accept a processing fee
• Willing to accept a loan origination fee
• Willing to accept penalty terms for missed/late payments, including interest
rate penalty
Picerne
• Loan for project-related fees on 15 year term, amortized over 30 years with
an interest rate of 3% and no pre-payment penalty.
o Anticipates a $72,500 balloon payment in Month 24
o Anticipates 15-year loan term, meaning that with 30 year
amortization, a balloon payment would be due in Month 180
• Principal amount: $120,750
o Estimate $12,210 in interest paid over a 15 year term based on 30
year amortization and Month 24 payment to principal
o Estimate total amount repaid to the City of $132,960
• Proposed an origination fee equal to 2% of the loan amount (typical of
commercial loans)
• Picerne proposes to reimburse the City for any 3rd party costs related to the
loan, up to $10,000, which can be used to offset staff time directly related to
making the loan, City Attorney time, etc.
• Proposed late payment fee of $100 per incident.
• Proposed default interest rate (to be determined) if any payment is more
than 30 days late, which would apply until all payments are brought current.
• City will receive a second mortgage on the land and improvements
• Picerne and/or its affiliates will include a loan guarantee. If the project is not
complete within 24 months of loan execution, Picerne will repay the loan
immediately and in-full. City may grant an extension at its discretion.
4. ACTION OPTIONS & POTENTIAL IMPACT MATRIX
The City Council may choose to provide financial commitment to any number of the
applicants, or none at all.
No motion is necessary to deny a resolution.
Should City Council determine an applicant be worthy of financial commitment, staff
recommends the City Council make a motion and call a vote on each individually.
I make a motion to approve the resolution of financial commitment for
AMTEX Buda.
I make a motion to approve the resolution of financial commitment for
Picerne Longhorn Landing.
Naturally, the City Council may modify these motions to include any necessary
changes to the resolutions.
5. RECOMMENDATION
This decision pertains to a competitive state program and is entirely discretionary for
City Council. As such, the staff does not provide a recommendation regarding any
particular applicant or the program as a whole. Staff encourages City Council to
evaluate each applicant on its own merits.
6. ENCLOSURES
A. AMTEX Package
1. Cut Sheet
2. Resolution of Financial Commitment
3. Applicant Request
4. Preliminary Site Plan and Architectural Renderings
B. Picerne Package
1. Cut Sheet
2. Resolution of Financial Commitment
3. Applicant Request
4. Preliminary Site Plan and Architectural Renderings
AMTEX Buda
Project Location
Near northeast corner of Robert S. Light and South FM 967,
approximately 1,000 feet east of intersection
Project Profile, Unit Mix and Income Mix
•Garden-style apartment buildings similar to Silverado
Crossing (behind Walmart/Cabelas)
•2-story buildings; 160 units
Unit Mix Income Mix
1 bedroom 40 30% AMI 13
2 bedroom 80 50% AMI 52
3 bedroom 40 60% AMI 63
Market 32
Financial Impact and Support Request
•Approximate HaysCAD Value of Project: $8,500,000 (anticipated net operating income divided by a CAP rate of 10%)
•Estimated Annual property tax generated based on 0.2979/$100: $25,300
•Estimated Parkland Dedication & Development Fees-in-lieu: $208,000
•Estimated Fees (including permitting & impact fees): $83,000 (not on water system, so no water impact or tap fees)
•Applicant is requesting $181,000 below-market rate loan (3% annual interest rate) and be for at least 15 years. Loan would
be used to pay for a portion of the various development fees. Such an approach does have some minor staff impact in the
Finance Department to administer, applicant will need to prepare debt schedule.
Water Infrastructure
•Project is located in the Monarch Utilities water service area
Wastewater Infrastructure
•Extension of wastewater lines will be required with this project. The UDC requires such extensions be done at the
developer’s expense. Staff and the project engineer have not analyzed line depths in detail, but the two points of access to
an existing gravity line are South FM 967 near Davey Plumbing and Robert S. Light Blvd. near the existing apartments. Staff
notes that the Robert S. Light connection will involve coordination and agreements with the South Buda WCID.
•Staff notes that the extension of a wastewater line to this property could potentially serve vacant properties and reduce the
cost of development for future businesses in the area.
Transportation
•In addition to ROW dedication, the project is significantly impacted by the Transportation Master Plan. The site plan
demonstrates compliance with the Plan, providing extension of Commercial Drive to a new collector, which then connects
to Robert S. Light. This provides secondary access points for improved emergency access to this project and Park 35 South.
Environmental Impact
•No significant environmental encumbrances are known for this site
Comprehensive Plan
The project is located in the “Industrial Employment Character District” and “Business Mixed Use Node” per the Buda 2030
Comprehensive Plan. This means that the appropriateness of multifamily use depends on surrounding uses and particular site,
location & design characteristics. Key phrases from the Plan’s description of this character district include:
•Primary purpose is to provide a home for industrial employment uses that are often incompatible with residential (primarily
when the uses exhibit performance characteristics that will cause incompatibility)
•Compatibility standards will need to be established between these uses to mitigate conflicts in land use
•Housing is not an appropriate use for this district at this time since it is significantly incompatible with heavy industrial uses
(referring to single family). The only type of housing that should be considered in this area is housing for workers. Any
market analysis conducted to evaluate the demand for housing in this area should acknowledge this situation.
Annexation, Zoning & Adjacencies
•The project is currently zoned I1 – Light Industrial & Warehousing; multifamily is permitted by Special Use Permit
•Property is near, but not directly adjacent to, Texas Lehigh Cement Company
•Other adjacent uses include a business/employer to the east; area zoning calls for similar uses
•Buda EDC has stated that the presence of existing multifamily already limits industrial development along Robert S. Light
Blvd. to lighter employment uses rather than heavy industrial; additional multifamily in this area is not a significant
hindrance.
Police Services
Staff is applying 0.75 annual calls for service per unit as an assumption based upon research of existing multifamily. Based on this,
the project is anticipated to generate 120 calls for service annually.
RESOLUTION NO. _________
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
BUDA, TEXAS APPROVING FUNDING ASSISTANCE FOR THE
APPLICATION OF AMTEX BUDA, LP TO THE TEXAS
DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS
FOR 2014 COMPETITIVE NINE-PERCENT HOUSING TAX
CREDITS AND FOR THE DEVELOPMENT OF VILLAS AT
BUDA TO BE LOCATED ON APPROXIMATELY 11+/- ACRES
OF LAND AT SOUTH LOOP 4 (FM 967) AND ROBERT S. LIGHT
BOULEVARD, IN THE CITY OF BUDA, HAYS COUNTY,
TEXAS 78610.
WHEREAS, AMTEX Buda, LP, through an affiliated entity (“Applicant”) has brought to the
City of Buda a proposal to develop an affordable rental housing community named Villas at Buda
(“Project”) to be located on 11+/- acres of land at South Loop 4 (FM 967) and Robert S. Light Boulevard
in the City of Buda, Hays County, Texas 78610; and
WHEREAS, the Applicant intends to file an application to the Texas Department of Housing and
Community Affairs (TDHCA) for an allocation of 2014 Competitive 9% Housing Tax Credits (HTC) for
the construction and development of the Project; and
WHEREAS, the Applicant has requested from the City of Buda support for its application to
TDHCA and for the development of the Project; and
WHEREAS, the City Council of the City of Buda is desirous of providing adequate affordable
housing for persons of low and moderate income within the City; and
WHEREAS, one of the most effective ways of providing such affordable housing is through the
development of multifamily housing with HTCs allocated by TDHCA; and
WHEREAS, in accordance to Section 11.9(d)(2) of the 2014 Qualified Allocation Plan, an
application may qualify for points for a resolution voted on and adopted from the governing body
expressly setting forth a commitment to provide a certain level of development funding assistance by the
political subdivision; and
WHEREAS, the City finds that this Resolution was adopted at a meeting of the Buda City
Council on February 18, 2014 that was held in strict compliance with the Texas Open Meetings Act at
which a quorum of the City Council Members were present and voting;
NOW, THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City of Buda,
Texas that:
Section 1. The City of Buda hereby approves a commitment to the Project of funds in an amount
of $181,000, which in the City’s discretion may be in the form of a grant or in-kind contribution, or a
permanent loan with an interest rate not to exceed three percent per annum and a term of at least fifteen
years and a minimum amortization period of thirty (30) years, or a combination thereof. The funds for this
proposed grant, contribution, or loan have not been provided to the City by the Applicant or a related
party to the Applicant.
Page 1 of 2
Section 2. Notwithstanding anything herein to the contrary, the funding commitment by the City
of Buda as set forth in this Resolution shall be contingent on (i) the Applicant securing HTCs from
TDHCA in an amount sufficient to develop the Project, (ii) site and design plan approval of the proposed
development by the City of Buda, and (iii) approval by the City of Buda of all matters discovered through
the due diligence conducted by or on behalf of the City of Buda in connection with the development of
the Project.
Section 3. That for and on behalf of the Governing Body, Kenneth Williams, City Manager, is
hereby authorized, empowered and directed to certify these resolutions to the Texas Department of
Housing and Community Affairs.
Section 4. Should any portion or part of this Resolution be held for any reason invalid or
unenforceable by a court of competent jurisdiction, the same shall not be construed to affect any other
valid portion hereof, but all valid portions hereof shall remain in full force and effect.
DULY PASSED and APPROVED, on the ___ day of February, 2014.
CITY OF BUDA, TEXAS
____________________________________
Todd Ruge, Mayor
ATTEST:
______________________________
Joy Hart, City Secretary
Page 2 of 2
30141 Agoura Rd. ♦ Ste. #100 ♦ Agoura Hills, Calif. ♦ 91301‐4332
Phone: (818) 706‐0694 ♦ Fax: (818) 706‐3752
February 21, 2014
Mr. Kenneth Williams
City Manager
City of Buda
121 Main Street
Buda, TX 78610-1218
RE: Request for Call of Special Meeting of City Council
Dear Mr. Williams:
I am writing to request that a Special Meeting of the Buda City Council be called no later than
February 27, 2014 to reconsider a Resolution of Funding Support for the Villas at Buda in
connection with our application to the Texas Department of Housing and Community Affairs
(“TDHCA”) for 9% Low Income Housing Tax Credits (“9% Credits”). As you are aware, the
process to secure 9% Credits is highly competitive, and without a Resolution of Local Funding
Support it will be virtually impossible for AMTEX to secure an award for the Villas at Buda.
Subsequent to the February 18th City Council Meeting, I have confirmed that all of our closest
competitors in Region 7 have been successful in securing funding resolutions, thus confirming
that the Resolution of Funding Support from the City of Buda would be required for AMTEX to
submit a winning application.
AMTEX understands that the City of Buda has not previously provided a direct loan to any
multifamily housing development and that doing so requires movement into new territory for the
City Council. The City of Buda is very sophisticated and understands that financial
investments, like the creation of the Cabelas TIRZ, are required to spur commercial investment.
In the creation of the TIRZ, the City was willing to forego ALL newly generated property tax
revenue to ensure that Cabelas would invest locally. Similarly, although on a much smaller
scale, AMTEX is requesting that the City make a financial investment in the Villas at Buda to:
a) upgrade the wastewater and “purple pipe” infrastructure near Park 35 South,
b) make significant advancements in the City’s Master Transportation Plan, and
c) ensure that the City has the high quality workforce housing needed to attract new
employers and spur business expansion.
Villas at Buda is anticipated to generate over $150,000 in new annual property taxes and the
City will receive its full share of those revenues. AMTEX is not asking the City to forego any
fees or give up any new revenue sources, but only to defer receipt of a portion of assessed
impact fees while earning interest on its investment.
AMTEX requests that the City of Buda make a Resolution of Funding Support to provide a
permanent loan to the Villas of Buda in the amount of $181,000. It is anticipated that this loan
will be used to pay for a portion of the impact fees assessed to the development at the time of
building permit issuance. The loan must have a term of no less than fifteen (15) years, a
minimum amortization period of thirty (30) years, and an interest rate no higher than 3% per
annum. These specific loan terms are required under the applicable TDHCA regulations
Housing Tax Credit Qualified Allocation Plan 2014
CDBG funds. For an Application with a proposed Development Site that, at the time of the initial filing ofthe Application, is: (A) Within a municipality, the Application will receive: (i) seventeen (17) points for a resolution from the Governing Body of that municipality expressly setting forth that the municipality supports the Application or Development; or (ii) fourteen (14) points for a resolution from the Governing Body of that municipality expressly setting forth that the municipality has no objection to the Application or Development. (B) Within the extraterritorial jurisdiction of a municipality, the Application may receive pointsunder clause (i) or (ii) of this subparagraph and under clause (iii) or (iv) of this subparagraph: (i) eight and one-half (8.5) points for a resolution from the Governing Body of that municipalityexpressly setting forth that the municipality supports the Application or Development; or (ii) seven (7) points for a resolution from the Governing Body of that municipality expressly setting forth that the municipality has no objection to the Application or Development; and (iii) eight and one-half (8.5) points for a resolution from the Governing Body of that county expressly setting forth that the county supports the Application or Development; or (iv) seven (7) points for a resolution from the Governing Body of that county expressly setting forth that the county has no objection to the Application or Development. (C) Within a county and not within a municipality or the extraterritorial jurisdiction of a municipality: (i) seventeen (17) points for a resolution from the Governing Body of that county expresslysetting forth that the county supports the Application or Development; or (ii) fourteen (14) points for a resolution from the Governing Body of that county expressly setting forth that the county has no objection to the Application or Development. (2) Commitment of Development Funding by Local Political Subdivision. (§2306.6710(b)(1)(E)) AnApplication may receive up to fourteen (14) points for a commitment of Development funding from thecity (if located in a city) or county in which the Development Site is located. Development funding frominstrumentalities of a city or county will not qualify for points under this scoring item unless suchinstrumentalities first award the funds to the city or county for their administration, at least 60 percent ofthe governing board of the instrumentality consists of city council members from the city in which theDevelopment Site is located (if located in a city) or county commissioners from the county in which theDevelopment Site is located, or 100 percent of the governing board of the instrumentality is appointed by
Page 20 of 35
Housing Tax Credit Qualified Allocation Plan 2014
the elected officials of the city in which the Development Site is located (if located within a city) or countyin which the Development Site is located. The government instrumentality providing Development funding under this scoring item may not be a Related Party to the Applicant. Development funding mustbe provided in the form of a construction and/or permanent loan with an interest rate no higher than 3 percent per annum and term of at least 5 years, a grant, an in-kind contribution, a contribution which will support the Development, such as vouchers, or combination thereof. Funds cannot have been provided tothe Local Political Subdivision by the Applicant or a Related Party. Should the Local Political Subdivisionborrow funds in order to commit funding to the Development, the Applicant or a Related Party to theApplicant can provide collateral or guarantees for the loan only to the Local Political Subdivision. HOMEInvestment Partnership Program or Community Development Block Grant funds administered by theState of Texas cannot be utilized for points under this scoring item except where the city, county, orinstrumentality is an actual applicant for and subrecipient of such funds for use in providing financialsupport to the proposed Development. The Applicant must provide evidence in the Application that anapplication or request for the development funds has been submitted in the form of an acknowledgementfrom the applicable city or county. The acknowledgement must also state that a final decision with regardto the awards of such funding is expected to occur no later than September 1. A firm commitment offunds is required by Commitment or points will be lost (except for Applicants electing the point undersubparagraph (C) of this paragraph). While the specific source can change, the funding secured must havebeen eligible at the time the Application was submitted. (A) Option for Development Sites located in the ETJ of a municipality. For an Application with aDevelopment Site located in the ETJ of a municipality, whether located in an unincorporated Place or not, the Applicant may seek Development funding from the municipality or a qualifyinginstrumentality of the municipality, provided the Applicant uses the population of said municipalityas the basis for determining the Application's eligible points under subparagraph (B) of thisparagraph. Applicants are encouraged to contact Department staff where an Applicant is uncertain ofhow to determine the correct Development funding amounts or qualifying Local Political Subdivisions. (B) Applications will qualify for points based on the amount of funds at the levels described inclauses (i) -(v) of this subparagraph. For the purpose of this calculation, the Department will use thepopulation of the Place from which the Development Site's Rural or Urban Area designation is derived. (i) eleven (11) points for a commitment by a Local Political Subdivision of the lesser of thepopulation of the Place multiplied by a factor of 0.15 in funding per Low Income Unit or $15,000in funding per Low Income Unit; (ii) ten (10) points for a commitment by a Local Political Subdivision of the lesser of thepopulation of the Place multiplied by a factor of 0.10 in funding per Low Income Unit or $10,000in funding per Low Income Unit; (iii) nine (9) points for a commitment by a Local Political Subdivision of the lesser of populationof the Place multiplied by a factor of 0.05 in funding per Low Income Unit or $5,000 in fundingper Low Income Unit;
Page 21 of 35
Housing Tax Credit Qualified Allocation Plan 2014
(iv) eight (8) points for a commitment by a Local Political Subdivision of the lesser of thepopulation of the Place multiplied by a factor of 0.025 in funding per Low Income Unit or $1,000in funding per Low Income Unit; or (v) seven (7) points for a commitment by a Local Political Subdivision of the lesser of thepopulation of the Place multiplied by a factor of 0.01 in funding per Low Income Unit or $500 infunding per Low Income Unit. (C) Two (2) points may be added to the points in subparagraph (B)(i) -(v) of this paragraph andsubparagraph (D) of this paragraph if the Applicant provides a firm commitment for funds in theform of a resolution from the Local Political Subdivision and provides a commitment for the samesource(s) at Commitment. The resolution must reflect terms that are consistent with the requirements of this paragraph. (D) One (1) point may be added to the points in subparagraph (B)(i) -(v) of this paragraph andsubparagraph (C) of this paragraph if the financing to be provided is in the form of a grant or in-kindcontribution meeting the requirements of this paragraph or a permanent loan with a minimum termof fifteen (15) years, minimum amortization period of thirty (30) years, and interest rate no higherthan 3 percent per annum. An Applicant must certify that they intend to maintain the Developmentfunding for the full term of the funding, barring unanticipated events. For Applicants electing thisadditional point that have not yet received an award or commitment, the structure of the funds willbe reviewed at Commitment for compliance with this provision. (3) Declared Disaster Area. (§2306.6710(b)(1)) An Application may receive ten (10) points if at the time of Application submission or at any time within the two-year period preceding the date of submission,the Development Site is located in an area declared to be a disaster area under the Texas GovernmentCode, §418.014. (4) Quantifiable Community Participation. (§2306.6710(b)(1)(B); §2306.6725(a)(2)) An Application mayqualify for up to nine (9) points for written statements from a Neighborhood Organization. In order for the statement to qualify for review, the Neighborhood Organization must have been in existence prior tothe Pre-Application Final Delivery Date, and its boundaries must contain the Development Site. Inaddition, the Neighborhood Organization must be on record with the state (includes the Department) orcounty in which the Development Site is located. Neighborhood Organizations may request to be onrecord with the Department for the current Application Round with the Department by submittingdocumentation (such as evidence of board meetings, bylaws, etc.) by the Full Application Delivery Date. The written statement must meet the requirements in subparagraph (A) of this paragraph. (A) Statement Requirements. If an organization cannot make the following affirmative certificationsor statements then the organization will not be considered a Neighborhood Organization forpurposes of this paragraph. (i) the Neighborhood Organization's name, a written description and map of the organization's boundaries, signatures and contact information (phone, email and mailing address) of at leasttwo individual members with authority to sign on behalf of the organization;
Page 22 of 35
Loan Amortization Schedule
Loan amount 181,000.00$ Scheduled payment 763.10$
Annual interest rate 3.00 %Scheduled number of payments 360
Loan period in years 30 Actual number of payments 360
Number of payments per year 12 Total early payments -$
Start date of loan 11/15/2014 Total interest 93,717.19$
Optional extra payments
Lender name:
Pmt.
No.Payment Date Beginning Balance
Scheduled
Payment Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
1 12/15/2014 181,000.00$ 763.10$ -$ 763.10$ 310.60$ 452.50$ 180,689.40$ 452.50$
2 1/15/2015 180,689.40$ 763.10$ -$ 763.10$ 311.38$ 451.72$ 180,378.02$ 904.22$
3 2/15/2015 180,378.02$ 763.10$ -$ 763.10$ 312.16$ 450.95$ 180,065.86$ 1,355.17$
4 3/15/2015 180,065.86$ 763.10$ -$ 763.10$ 312.94$ 450.16$ 179,752.92$ 1,805.33$
5 4/15/2015 179,752.92$ 763.10$ -$ 763.10$ 313.72$ 449.38$ 179,439.20$ 2,254.72$
6 5/15/2015 179,439.20$ 763.10$ -$ 763.10$ 314.51$ 448.60$ 179,124.69$ 2,703.31$
7 6/15/2015 179,124.69$ 763.10$ -$ 763.10$ 315.29$ 447.81$ 178,809.40$ 3,151.13$
8 7/15/2015 178,809.40$ 763.10$ -$ 763.10$ 316.08$ 447.02$ 178,493.32$ 3,598.15$
9 8/15/2015 178,493.32$ 763.10$ -$ 763.10$ 316.87$ 446.23$ 178,176.45$ 4,044.38$
10 9/15/2015 178,176.45$ 763.10$ -$ 763.10$ 317.66$ 445.44$ 177,858.79$ 4,489.82$
11 10/15/2015 177,858.79$ 763.10$ -$ 763.10$ 318.46$ 444.65$ 177,540.33$ 4,934.47$
12 11/15/2015 177,540.33$ 763.10$ -$ 763.10$ 319.25$ 443.85$ 177,221.08$ 5,378.32$
13 12/15/2015 177,221.08$ 763.10$ -$ 763.10$ 320.05$ 443.05$ 176,901.03$ 5,821.37$
14 1/15/2016 176,901.03$ 763.10$ -$ 763.10$ 320.85$ 442.25$ 176,580.18$ 6,263.63$
15 2/15/2016 176,580.18$ 763.10$ -$ 763.10$ 321.65$ 441.45$ 176,258.53$ 6,705.08$
16 3/15/2016 176,258.53$ 763.10$ -$ 763.10$ 322.46$ 440.65$ 175,936.07$ 7,145.72$
17 4/15/2016 175,936.07$ 763.10$ -$ 763.10$ 323.26$ 439.84$ 175,612.81$ 7,585.56$
18 5/15/2016 175,612.81$ 763.10$ -$ 763.10$ 324.07$ 439.03$ 175,288.74$ 8,024.60$
19 6/15/2016 175,288.74$ 763.10$ -$ 763.10$ 324.88$ 438.22$ 174,963.85$ 8,462.82$
20 7/15/2016 174,963.85$ 763.10$ -$ 763.10$ 325.69$ 437.41$ 174,638.16$ 8,900.23$
21 8/15/2016 174,638.16$ 763.10$ -$ 763.10$ 326.51$ 436.60$ 174,311.65$ 9,336.82$
22 9/15/2016 174,311.65$ 763.10$ -$ 763.10$ 327.32$ 435.78$ 173,984.33$ 9,772.60$
23 10/15/2016 173,984.33$ 763.10$ -$ 763.10$ 328.14$ 434.96$ 173,656.19$ 10,207.56$
24 11/15/2016 173,656.19$ 763.10$ -$ 763.10$ 328.96$ 434.14$ 173,327.22$ 10,641.70$
25 12/15/2016 173,327.22$ 763.10$ -$ 763.10$ 329.79$ 433.32$ 172,997.44$ 11,075.02$
26 1/15/2017 172,997.44$ 763.10$ -$ 763.10$ 330.61$ 432.49$ 172,666.83$ 11,507.51$
27 2/15/2017 172,666.83$ 763.10$ -$ 763.10$ 331.44$ 431.67$ 172,335.39$ 11,939.18$
28 3/15/2017 172,335.39$ 763.10$ -$ 763.10$ 332.26$ 430.84$ 172,003.13$ 12,370.02$
29 4/15/2017 172,003.13$ 763.10$ -$ 763.10$ 333.10$ 430.01$ 171,670.03$ 12,800.03$
30 5/15/2017 171,670.03$ 763.10$ -$ 763.10$ 333.93$ 429.18$ 171,336.10$ 13,229.20$
31 6/15/2017 171,336.10$ 763.10$ -$ 763.10$ 334.76$ 428.34$ 171,001.34$ 13,657.54$
32 7/15/2017 171,001.34$ 763.10$ -$ 763.10$ 335.60$ 427.50$ 170,665.74$ 14,085.05$
City of Buda
Enter values Loan summary
Pmt.
No.Payment Date Beginning Balance
Scheduled
Payment Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
33 8/15/2017 170,665.74$ 763.10$ -$ 763.10$ 336.44$ 426.66$ 170,329.30$ 14,511.71$
34 9/15/2017 170,329.30$ 763.10$ -$ 763.10$ 337.28$ 425.82$ 169,992.02$ 14,937.53$
35 10/15/2017 169,992.02$ 763.10$ -$ 763.10$ 338.12$ 424.98$ 169,653.90$ 15,362.51$
36 11/15/2017 169,653.90$ 763.10$ -$ 763.10$ 338.97$ 424.13$ 169,314.93$ 15,786.65$
37 12/15/2017 169,314.93$ 763.10$ -$ 763.10$ 339.82$ 423.29$ 168,975.11$ 16,209.94$
38 1/15/2018 168,975.11$ 763.10$ -$ 763.10$ 340.67$ 422.44$ 168,634.45$ 16,632.37$
39 2/15/2018 168,634.45$ 763.10$ -$ 763.10$ 341.52$ 421.59$ 168,292.93$ 17,053.96$
40 3/15/2018 168,292.93$ 763.10$ -$ 763.10$ 342.37$ 420.73$ 167,950.56$ 17,474.69$
41 4/15/2018 167,950.56$ 763.10$ -$ 763.10$ 343.23$ 419.88$ 167,607.33$ 17,894.57$
42 5/15/2018 167,607.33$ 763.10$ -$ 763.10$ 344.08$ 419.02$ 167,263.25$ 18,313.59$
43 6/15/2018 167,263.25$ 763.10$ -$ 763.10$ 344.95$ 418.16$ 166,918.30$ 18,731.75$
44 7/15/2018 166,918.30$ 763.10$ -$ 763.10$ 345.81$ 417.30$ 166,572.50$ 19,149.04$
45 8/15/2018 166,572.50$ 763.10$ -$ 763.10$ 346.67$ 416.43$ 166,225.82$ 19,565.47$
46 9/15/2018 166,225.82$ 763.10$ -$ 763.10$ 347.54$ 415.56$ 165,878.28$ 19,981.04$
47 10/15/2018 165,878.28$ 763.10$ -$ 763.10$ 348.41$ 414.70$ 165,529.88$ 20,395.73$
48 11/15/2018 165,529.88$ 763.10$ -$ 763.10$ 349.28$ 413.82$ 165,180.60$ 20,809.56$
49 12/15/2018 165,180.60$ 763.10$ -$ 763.10$ 350.15$ 412.95$ 164,830.45$ 21,222.51$
50 1/15/2019 164,830.45$ 763.10$ -$ 763.10$ 351.03$ 412.08$ 164,479.42$ 21,634.58$
51 2/15/2019 164,479.42$ 763.10$ -$ 763.10$ 351.90$ 411.20$ 164,127.51$ 22,045.78$
52 3/15/2019 164,127.51$ 763.10$ -$ 763.10$ 352.78$ 410.32$ 163,774.73$ 22,456.10$
53 4/15/2019 163,774.73$ 763.10$ -$ 763.10$ 353.67$ 409.44$ 163,421.06$ 22,865.54$
54 5/15/2019 163,421.06$ 763.10$ -$ 763.10$ 354.55$ 408.55$ 163,066.51$ 23,274.09$
55 6/15/2019 163,066.51$ 763.10$ -$ 763.10$ 355.44$ 407.67$ 162,711.08$ 23,681.76$
56 7/15/2019 162,711.08$ 763.10$ -$ 763.10$ 356.33$ 406.78$ 162,354.75$ 24,088.54$
57 8/15/2019 162,354.75$ 763.10$ -$ 763.10$ 357.22$ 405.89$ 161,997.53$ 24,494.42$
58 9/15/2019 161,997.53$ 763.10$ -$ 763.10$ 358.11$ 404.99$ 161,639.42$ 24,899.42$
59 10/15/2019 161,639.42$ 763.10$ -$ 763.10$ 359.00$ 404.10$ 161,280.42$ 25,303.51$
60 11/15/2019 161,280.42$ 763.10$ -$ 763.10$ 359.90$ 403.20$ 160,920.52$ 25,706.72$
61 12/15/2019 160,920.52$ 763.10$ -$ 763.10$ 360.80$ 402.30$ 160,559.72$ 26,109.02$
62 1/15/2020 160,559.72$ 763.10$ -$ 763.10$ 361.70$ 401.40$ 160,198.01$ 26,510.42$
63 2/15/2020 160,198.01$ 763.10$ -$ 763.10$ 362.61$ 400.50$ 159,835.40$ 26,910.91$
64 3/15/2020 159,835.40$ 763.10$ -$ 763.10$ 363.51$ 399.59$ 159,471.89$ 27,310.50$
65 4/15/2020 159,471.89$ 763.10$ -$ 763.10$ 364.42$ 398.68$ 159,107.46$ 27,709.18$
66 5/15/2020 159,107.46$ 763.10$ -$ 763.10$ 365.33$ 397.77$ 158,742.13$ 28,106.95$
67 6/15/2020 158,742.13$ 763.10$ -$ 763.10$ 366.25$ 396.86$ 158,375.88$ 28,503.80$
68 7/15/2020 158,375.88$ 763.10$ -$ 763.10$ 367.16$ 395.94$ 158,008.72$ 28,899.74$
69 8/15/2020 158,008.72$ 763.10$ -$ 763.10$ 368.08$ 395.02$ 157,640.64$ 29,294.77$
70 9/15/2020 157,640.64$ 763.10$ -$ 763.10$ 369.00$ 394.10$ 157,271.64$ 29,688.87$
71 10/15/2020 157,271.64$ 763.10$ -$ 763.10$ 369.92$ 393.18$ 156,901.71$ 30,082.05$
72 11/15/2020 156,901.71$ 763.10$ -$ 763.10$ 370.85$ 392.25$ 156,530.86$ 30,474.30$
73 12/15/2020 156,530.86$ 763.10$ -$ 763.10$ 371.78$ 391.33$ 156,159.09$ 30,865.63$
74 1/15/2021 156,159.09$ 763.10$ -$ 763.10$ 372.71$ 390.40$ 155,786.38$ 31,256.02$
75 2/15/2021 155,786.38$ 763.10$ -$ 763.10$ 373.64$ 389.47$ 155,412.74$ 31,645.49$
76 3/15/2021 155,412.74$ 763.10$ -$ 763.10$ 374.57$ 388.53$ 155,038.17$ 32,034.02$
77 4/15/2021 155,038.17$ 763.10$ -$ 763.10$ 375.51$ 387.60$ 154,662.66$ 32,421.62$
78 5/15/2021 154,662.66$ 763.10$ -$ 763.10$ 376.45$ 386.66$ 154,286.22$ 32,808.27$
79 6/15/2021 154,286.22$ 763.10$ -$ 763.10$ 377.39$ 385.72$ 153,908.83$ 33,193.99$
Pmt.
No.Payment Date Beginning Balance
Scheduled
Payment Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
80 7/15/2021 153,908.83$ 763.10$ -$ 763.10$ 378.33$ 384.77$ 153,530.50$ 33,578.76$
81 8/15/2021 153,530.50$ 763.10$ -$ 763.10$ 379.28$ 383.83$ 153,151.22$ 33,962.59$
82 9/15/2021 153,151.22$ 763.10$ -$ 763.10$ 380.23$ 382.88$ 152,771.00$ 34,345.47$
83 10/15/2021 152,771.00$ 763.10$ -$ 763.10$ 381.18$ 381.93$ 152,389.82$ 34,727.39$
84 11/15/2021 152,389.82$ 763.10$ -$ 763.10$ 382.13$ 380.97$ 152,007.69$ 35,108.37$
85 12/15/2021 152,007.69$ 763.10$ -$ 763.10$ 383.08$ 380.02$ 151,624.61$ 35,488.39$
86 1/15/2022 151,624.61$ 763.10$ -$ 763.10$ 384.04$ 379.06$ 151,240.57$ 35,867.45$
87 2/15/2022 151,240.57$ 763.10$ -$ 763.10$ 385.00$ 378.10$ 150,855.56$ 36,245.55$
88 3/15/2022 150,855.56$ 763.10$ -$ 763.10$ 385.96$ 377.14$ 150,469.60$ 36,622.69$
89 4/15/2022 150,469.60$ 763.10$ -$ 763.10$ 386.93$ 376.17$ 150,082.67$ 36,998.86$
90 5/15/2022 150,082.67$ 763.10$ -$ 763.10$ 387.90$ 375.21$ 149,694.77$ 37,374.07$
91 6/15/2022 149,694.77$ 763.10$ -$ 763.10$ 388.87$ 374.24$ 149,305.91$ 37,748.31$
92 7/15/2022 149,305.91$ 763.10$ -$ 763.10$ 389.84$ 373.26$ 148,916.07$ 38,121.57$
93 8/15/2022 148,916.07$ 763.10$ -$ 763.10$ 390.81$ 372.29$ 148,525.26$ 38,493.86$
94 9/15/2022 148,525.26$ 763.10$ -$ 763.10$ 391.79$ 371.31$ 148,133.47$ 38,865.18$
95 10/15/2022 148,133.47$ 763.10$ -$ 763.10$ 392.77$ 370.33$ 147,740.70$ 39,235.51$
96 11/15/2022 147,740.70$ 763.10$ -$ 763.10$ 393.75$ 369.35$ 147,346.94$ 39,604.86$
97 12/15/2022 147,346.94$ 763.10$ -$ 763.10$ 394.74$ 368.37$ 146,952.21$ 39,973.23$
98 1/15/2023 146,952.21$ 763.10$ -$ 763.10$ 395.72$ 367.38$ 146,556.49$ 40,340.61$
99 2/15/2023 146,556.49$ 763.10$ -$ 763.10$ 396.71$ 366.39$ 146,159.77$ 40,707.00$
100 3/15/2023 146,159.77$ 763.10$ -$ 763.10$ 397.70$ 365.40$ 145,762.07$ 41,072.40$
101 4/15/2023 145,762.07$ 763.10$ -$ 763.10$ 398.70$ 364.41$ 145,363.37$ 41,436.80$
102 5/15/2023 145,363.37$ 763.10$ -$ 763.10$ 399.69$ 363.41$ 144,963.68$ 41,800.21$
103 6/15/2023 144,963.68$ 763.10$ -$ 763.10$ 400.69$ 362.41$ 144,562.98$ 42,162.62$
104 7/15/2023 144,562.98$ 763.10$ -$ 763.10$ 401.70$ 361.41$ 144,161.29$ 42,524.03$
105 8/15/2023 144,161.29$ 763.10$ -$ 763.10$ 402.70$ 360.40$ 143,758.59$ 42,884.43$
106 9/15/2023 143,758.59$ 763.10$ -$ 763.10$ 403.71$ 359.40$ 143,354.88$ 43,243.83$
107 10/15/2023 143,354.88$ 763.10$ -$ 763.10$ 404.72$ 358.39$ 142,950.16$ 43,602.22$
108 11/15/2023 142,950.16$ 763.10$ -$ 763.10$ 405.73$ 357.38$ 142,544.44$ 43,959.59$
109 12/15/2023 142,544.44$ 763.10$ -$ 763.10$ 406.74$ 356.36$ 142,137.69$ 44,315.95$
110 1/15/2024 142,137.69$ 763.10$ -$ 763.10$ 407.76$ 355.34$ 141,729.93$ 44,671.30$
111 2/15/2024 141,729.93$ 763.10$ -$ 763.10$ 408.78$ 354.32$ 141,321.16$ 45,025.62$
112 3/15/2024 141,321.16$ 763.10$ -$ 763.10$ 409.80$ 353.30$ 140,911.36$ 45,378.93$
113 4/15/2024 140,911.36$ 763.10$ -$ 763.10$ 410.82$ 352.28$ 140,500.53$ 45,731.20$
114 5/15/2024 140,500.53$ 763.10$ -$ 763.10$ 411.85$ 351.25$ 140,088.68$ 46,082.45$
115 6/15/2024 140,088.68$ 763.10$ -$ 763.10$ 412.88$ 350.22$ 139,675.80$ 46,432.68$
116 7/15/2024 139,675.80$ 763.10$ -$ 763.10$ 413.91$ 349.19$ 139,261.88$ 46,781.87$
117 8/15/2024 139,261.88$ 763.10$ -$ 763.10$ 414.95$ 348.15$ 138,846.93$ 47,130.02$
118 9/15/2024 138,846.93$ 763.10$ -$ 763.10$ 415.99$ 347.12$ 138,430.95$ 47,477.14$
119 10/15/2024 138,430.95$ 763.10$ -$ 763.10$ 417.03$ 346.08$ 138,013.92$ 47,823.22$
120 11/15/2024 138,013.92$ 763.10$ -$ 763.10$ 418.07$ 345.03$ 137,595.85$ 48,168.25$
121 12/15/2024 137,595.85$ 763.10$ -$ 763.10$ 419.11$ 343.99$ 137,176.74$ 48,512.24$
122 1/15/2025 137,176.74$ 763.10$ -$ 763.10$ 420.16$ 342.94$ 136,756.58$ 48,855.18$
123 2/15/2025 136,756.58$ 763.10$ -$ 763.10$ 421.21$ 341.89$ 136,335.37$ 49,197.07$
124 3/15/2025 136,335.37$ 763.10$ -$ 763.10$ 422.26$ 340.84$ 135,913.10$ 49,537.91$
125 4/15/2025 135,913.10$ 763.10$ -$ 763.10$ 423.32$ 339.78$ 135,489.78$ 49,877.69$
126 5/15/2025 135,489.78$ 763.10$ -$ 763.10$ 424.38$ 338.72$ 135,065.40$ 50,216.42$
Pmt.
No.Payment Date Beginning Balance
Scheduled
Payment Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
127 6/15/2025 135,065.40$ 763.10$ -$ 763.10$ 425.44$ 337.66$ 134,639.96$ 50,554.08$
128 7/15/2025 134,639.96$ 763.10$ -$ 763.10$ 426.50$ 336.60$ 134,213.46$ 50,890.68$
129 8/15/2025 134,213.46$ 763.10$ -$ 763.10$ 427.57$ 335.53$ 133,785.89$ 51,226.22$
130 9/15/2025 133,785.89$ 763.10$ -$ 763.10$ 428.64$ 334.46$ 133,357.25$ 51,560.68$
131 10/15/2025 133,357.25$ 763.10$ -$ 763.10$ 429.71$ 333.39$ 132,927.54$ 51,894.07$
132 11/15/2025 132,927.54$ 763.10$ -$ 763.10$ 430.78$ 332.32$ 132,496.76$ 52,226.39$
133 12/15/2025 132,496.76$ 763.10$ -$ 763.10$ 431.86$ 331.24$ 132,064.90$ 52,557.63$
134 1/15/2026 132,064.90$ 763.10$ -$ 763.10$ 432.94$ 330.16$ 131,631.95$ 52,887.80$
135 2/15/2026 131,631.95$ 763.10$ -$ 763.10$ 434.02$ 329.08$ 131,197.93$ 53,216.88$
136 3/15/2026 131,197.93$ 763.10$ -$ 763.10$ 435.11$ 327.99$ 130,762.82$ 53,544.87$
137 4/15/2026 130,762.82$ 763.10$ -$ 763.10$ 436.20$ 326.91$ 130,326.63$ 53,871.78$
138 5/15/2026 130,326.63$ 763.10$ -$ 763.10$ 437.29$ 325.82$ 129,889.34$ 54,197.59$
139 6/15/2026 129,889.34$ 763.10$ -$ 763.10$ 438.38$ 324.72$ 129,450.96$ 54,522.32$
140 7/15/2026 129,450.96$ 763.10$ -$ 763.10$ 439.48$ 323.63$ 129,011.48$ 54,845.95$
141 8/15/2026 129,011.48$ 763.10$ -$ 763.10$ 440.57$ 322.53$ 128,570.91$ 55,168.47$
142 9/15/2026 128,570.91$ 763.10$ -$ 763.10$ 441.68$ 321.43$ 128,129.23$ 55,489.90$
143 10/15/2026 128,129.23$ 763.10$ -$ 763.10$ 442.78$ 320.32$ 127,686.45$ 55,810.22$
144 11/15/2026 127,686.45$ 763.10$ -$ 763.10$ 443.89$ 319.22$ 127,242.57$ 56,129.44$
145 12/15/2026 127,242.57$ 763.10$ -$ 763.10$ 445.00$ 318.11$ 126,797.57$ 56,447.55$
146 1/15/2027 126,797.57$ 763.10$ -$ 763.10$ 446.11$ 316.99$ 126,351.46$ 56,764.54$
147 2/15/2027 126,351.46$ 763.10$ -$ 763.10$ 447.22$ 315.88$ 125,904.23$ 57,080.42$
148 3/15/2027 125,904.23$ 763.10$ -$ 763.10$ 448.34$ 314.76$ 125,455.89$ 57,395.18$
149 4/15/2027 125,455.89$ 763.10$ -$ 763.10$ 449.46$ 313.64$ 125,006.43$ 57,708.82$
150 5/15/2027 125,006.43$ 763.10$ -$ 763.10$ 450.59$ 312.52$ 124,555.84$ 58,021.34$
151 6/15/2027 124,555.84$ 763.10$ -$ 763.10$ 451.71$ 311.39$ 124,104.13$ 58,332.73$
152 7/15/2027 124,104.13$ 763.10$ -$ 763.10$ 452.84$ 310.26$ 123,651.28$ 58,642.99$
153 8/15/2027 123,651.28$ 763.10$ -$ 763.10$ 453.98$ 309.13$ 123,197.31$ 58,952.11$
154 9/15/2027 123,197.31$ 763.10$ -$ 763.10$ 455.11$ 307.99$ 122,742.20$ 59,260.11$
155 10/15/2027 122,742.20$ 763.10$ -$ 763.10$ 456.25$ 306.86$ 122,285.95$ 59,566.96$
156 11/15/2027 122,285.95$ 763.10$ -$ 763.10$ 457.39$ 305.71$ 121,828.56$ 59,872.68$
157 12/15/2027 121,828.56$ 763.10$ -$ 763.10$ 458.53$ 304.57$ 121,370.03$ 60,177.25$
158 1/15/2028 121,370.03$ 763.10$ -$ 763.10$ 459.68$ 303.43$ 120,910.35$ 60,480.67$
159 2/15/2028 120,910.35$ 763.10$ -$ 763.10$ 460.83$ 302.28$ 120,449.53$ 60,782.95$
160 3/15/2028 120,449.53$ 763.10$ -$ 763.10$ 461.98$ 301.12$ 119,987.55$ 61,084.07$
161 4/15/2028 119,987.55$ 763.10$ -$ 763.10$ 463.13$ 299.97$ 119,524.41$ 61,384.04$
162 5/15/2028 119,524.41$ 763.10$ -$ 763.10$ 464.29$ 298.81$ 119,060.12$ 61,682.85$
163 6/15/2028 119,060.12$ 763.10$ -$ 763.10$ 465.45$ 297.65$ 118,594.67$ 61,980.50$
164 7/15/2028 118,594.67$ 763.10$ -$ 763.10$ 466.62$ 296.49$ 118,128.05$ 62,276.99$
165 8/15/2028 118,128.05$ 763.10$ -$ 763.10$ 467.78$ 295.32$ 117,660.27$ 62,572.31$
166 9/15/2028 117,660.27$ 763.10$ -$ 763.10$ 468.95$ 294.15$ 117,191.31$ 62,866.46$
167 10/15/2028 117,191.31$ 763.10$ -$ 763.10$ 470.13$ 292.98$ 116,721.19$ 63,159.44$
168 11/15/2028 116,721.19$ 763.10$ -$ 763.10$ 471.30$ 291.80$ 116,249.89$ 63,451.24$
169 12/15/2028 116,249.89$ 763.10$ -$ 763.10$ 472.48$ 290.62$ 115,777.41$ 63,741.87$
170 1/15/2029 115,777.41$ 763.10$ -$ 763.10$ 473.66$ 289.44$ 115,303.75$ 64,031.31$
171 2/15/2029 115,303.75$ 763.10$ -$ 763.10$ 474.84$ 288.26$ 114,828.91$ 64,319.57$
172 3/15/2029 114,828.91$ 763.10$ -$ 763.10$ 476.03$ 287.07$ 114,352.88$ 64,606.64$
173 4/15/2029 114,352.88$ 763.10$ -$ 763.10$ 477.22$ 285.88$ 113,875.65$ 64,892.53$
Pmt.
No.Payment Date Beginning Balance
Scheduled
Payment Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
174 5/15/2029 113,875.65$ 763.10$ -$ 763.10$ 478.41$ 284.69$ 113,397.24$ 65,177.21$
175 6/15/2029 113,397.24$ 763.10$ -$ 763.10$ 479.61$ 283.49$ 112,917.63$ 65,460.71$
176 7/15/2029 112,917.63$ 763.10$ -$ 763.10$ 480.81$ 282.29$ 112,436.82$ 65,743.00$
177 8/15/2029 112,436.82$ 763.10$ -$ 763.10$ 482.01$ 281.09$ 111,954.81$ 66,024.09$
178 9/15/2029 111,954.81$ 763.10$ -$ 763.10$ 483.22$ 279.89$ 111,471.59$ 66,303.98$
179 10/15/2029 111,471.59$ 763.10$ -$ 763.10$ 484.42$ 278.68$ 110,987.17$ 66,582.66$
180 11/15/2029 110,987.17$ 763.10$ -$ 763.10$ 485.64$ 277.47$ 110,501.53$ 66,860.13$
181 12/15/2029 110,501.53$ 763.10$ -$ 763.10$ 486.85$ 276.25$ 110,014.68$ 67,136.38$
182 1/15/2030 110,014.68$ 763.10$ -$ 763.10$ 488.07$ 275.04$ 109,526.62$ 67,411.42$
183 2/15/2030 109,526.62$ 763.10$ -$ 763.10$ 489.29$ 273.82$ 109,037.33$ 67,685.23$
184 3/15/2030 109,037.33$ 763.10$ -$ 763.10$ 490.51$ 272.59$ 108,546.82$ 67,957.83$
185 4/15/2030 108,546.82$ 763.10$ -$ 763.10$ 491.74$ 271.37$ 108,055.08$ 68,229.19$
186 5/15/2030 108,055.08$ 763.10$ -$ 763.10$ 492.97$ 270.14$ 107,562.12$ 68,499.33$
187 6/15/2030 107,562.12$ 763.10$ -$ 763.10$ 494.20$ 268.91$ 107,067.92$ 68,768.24$
188 7/15/2030 107,067.92$ 763.10$ -$ 763.10$ 495.43$ 267.67$ 106,572.49$ 69,035.91$
189 8/15/2030 106,572.49$ 763.10$ -$ 763.10$ 496.67$ 266.43$ 106,075.82$ 69,302.34$
190 9/15/2030 106,075.82$ 763.10$ -$ 763.10$ 497.91$ 265.19$ 105,577.90$ 69,567.53$
191 10/15/2030 105,577.90$ 763.10$ -$ 763.10$ 499.16$ 263.94$ 105,078.74$ 69,831.47$
192 11/15/2030 105,078.74$ 763.10$ -$ 763.10$ 500.41$ 262.70$ 104,578.34$ 70,094.17$
193 12/15/2030 104,578.34$ 763.10$ -$ 763.10$ 501.66$ 261.45$ 104,076.68$ 70,355.62$
194 1/15/2031 104,076.68$ 763.10$ -$ 763.10$ 502.91$ 260.19$ 103,573.77$ 70,615.81$
195 2/15/2031 103,573.77$ 763.10$ -$ 763.10$ 504.17$ 258.93$ 103,069.60$ 70,874.74$
196 3/15/2031 103,069.60$ 763.10$ -$ 763.10$ 505.43$ 257.67$ 102,564.17$ 71,132.42$
197 4/15/2031 102,564.17$ 763.10$ -$ 763.10$ 506.69$ 256.41$ 102,057.48$ 71,388.83$
198 5/15/2031 102,057.48$ 763.10$ -$ 763.10$ 507.96$ 255.14$ 101,549.52$ 71,643.97$
199 6/15/2031 101,549.52$ 763.10$ -$ 763.10$ 509.23$ 253.87$ 101,040.29$ 71,897.84$
200 7/15/2031 101,040.29$ 763.10$ -$ 763.10$ 510.50$ 252.60$ 100,529.78$ 72,150.44$
201 8/15/2031 100,529.78$ 763.10$ -$ 763.10$ 511.78$ 251.32$ 100,018.01$ 72,401.77$
202 9/15/2031 100,018.01$ 763.10$ -$ 763.10$ 513.06$ 250.05$ 99,504.95$ 72,651.81$
203 10/15/2031 99,504.95$ 763.10$ -$ 763.10$ 514.34$ 248.76$ 98,990.61$ 72,900.58$
204 11/15/2031 98,990.61$ 763.10$ -$ 763.10$ 515.63$ 247.48$ 98,474.98$ 73,148.05$
205 12/15/2031 98,474.98$ 763.10$ -$ 763.10$ 516.92$ 246.19$ 97,958.06$ 73,394.24$
206 1/15/2032 97,958.06$ 763.10$ -$ 763.10$ 518.21$ 244.90$ 97,439.86$ 73,639.14$
207 2/15/2032 97,439.86$ 763.10$ -$ 763.10$ 519.50$ 243.60$ 96,920.35$ 73,882.74$
208 3/15/2032 96,920.35$ 763.10$ -$ 763.10$ 520.80$ 242.30$ 96,399.55$ 74,125.04$
209 4/15/2032 96,399.55$ 763.10$ -$ 763.10$ 522.10$ 241.00$ 95,877.45$ 74,366.04$
210 5/15/2032 95,877.45$ 763.10$ -$ 763.10$ 523.41$ 239.69$ 95,354.04$ 74,605.73$
211 6/15/2032 95,354.04$ 763.10$ -$ 763.10$ 524.72$ 238.39$ 94,829.32$ 74,844.11$
212 7/15/2032 94,829.32$ 763.10$ -$ 763.10$ 526.03$ 237.07$ 94,303.29$ 75,081.19$
213 8/15/2032 94,303.29$ 763.10$ -$ 763.10$ 527.35$ 235.76$ 93,775.94$ 75,316.95$
214 9/15/2032 93,775.94$ 763.10$ -$ 763.10$ 528.66$ 234.44$ 93,247.28$ 75,551.39$
215 10/15/2032 93,247.28$ 763.10$ -$ 763.10$ 529.99$ 233.12$ 92,717.29$ 75,784.50$
216 11/15/2032 92,717.29$ 763.10$ -$ 763.10$ 531.31$ 231.79$ 92,185.98$ 76,016.30$
217 12/15/2032 92,185.98$ 763.10$ -$ 763.10$ 532.64$ 230.46$ 91,653.35$ 76,246.76$
218 1/15/2033 91,653.35$ 763.10$ -$ 763.10$ 533.97$ 229.13$ 91,119.38$ 76,475.89$
219 2/15/2033 91,119.38$ 763.10$ -$ 763.10$ 535.30$ 227.80$ 90,584.07$ 76,703.69$
220 3/15/2033 90,584.07$ 763.10$ -$ 763.10$ 536.64$ 226.46$ 90,047.43$ 76,930.15$
Pmt.
No.Payment Date Beginning Balance
Scheduled
Payment Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
221 4/15/2033 90,047.43$ 763.10$ -$ 763.10$ 537.98$ 225.12$ 89,509.44$ 77,155.27$
222 5/15/2033 89,509.44$ 763.10$ -$ 763.10$ 539.33$ 223.77$ 88,970.11$ 77,379.05$
223 6/15/2033 88,970.11$ 763.10$ -$ 763.10$ 540.68$ 222.43$ 88,429.43$ 77,601.47$
224 7/15/2033 88,429.43$ 763.10$ -$ 763.10$ 542.03$ 221.07$ 87,887.41$ 77,822.54$
225 8/15/2033 87,887.41$ 763.10$ -$ 763.10$ 543.38$ 219.72$ 87,344.02$ 78,042.26$
226 9/15/2033 87,344.02$ 763.10$ -$ 763.10$ 544.74$ 218.36$ 86,799.28$ 78,260.62$
227 10/15/2033 86,799.28$ 763.10$ -$ 763.10$ 546.11$ 217.00$ 86,253.17$ 78,477.62$
228 11/15/2033 86,253.17$ 763.10$ -$ 763.10$ 547.47$ 215.63$ 85,705.70$ 78,693.25$
229 12/15/2033 85,705.70$ 763.10$ -$ 763.10$ 548.84$ 214.26$ 85,156.86$ 78,907.52$
230 1/15/2034 85,156.86$ 763.10$ -$ 763.10$ 550.21$ 212.89$ 84,606.65$ 79,120.41$
231 2/15/2034 84,606.65$ 763.10$ -$ 763.10$ 551.59$ 211.52$ 84,055.06$ 79,331.93$
232 3/15/2034 84,055.06$ 763.10$ -$ 763.10$ 552.97$ 210.14$ 83,502.10$ 79,542.06$
233 4/15/2034 83,502.10$ 763.10$ -$ 763.10$ 554.35$ 208.76$ 82,947.75$ 79,750.82$
234 5/15/2034 82,947.75$ 763.10$ -$ 763.10$ 555.73$ 207.37$ 82,392.02$ 79,958.19$
235 6/15/2034 82,392.02$ 763.10$ -$ 763.10$ 557.12$ 205.98$ 81,834.89$ 80,164.17$
236 7/15/2034 81,834.89$ 763.10$ -$ 763.10$ 558.52$ 204.59$ 81,276.38$ 80,368.76$
237 8/15/2034 81,276.38$ 763.10$ -$ 763.10$ 559.91$ 203.19$ 80,716.47$ 80,571.95$
238 9/15/2034 80,716.47$ 763.10$ -$ 763.10$ 561.31$ 201.79$ 80,155.15$ 80,773.74$
239 10/15/2034 80,155.15$ 763.10$ -$ 763.10$ 562.72$ 200.39$ 79,592.44$ 80,974.13$
240 11/15/2034 79,592.44$ 763.10$ -$ 763.10$ 564.12$ 198.98$ 79,028.32$ 81,173.11$
241 12/15/2034 79,028.32$ 763.10$ -$ 763.10$ 565.53$ 197.57$ 78,462.78$ 81,370.68$
242 1/15/2035 78,462.78$ 763.10$ -$ 763.10$ 566.95$ 196.16$ 77,895.84$ 81,566.84$
243 2/15/2035 77,895.84$ 763.10$ -$ 763.10$ 568.36$ 194.74$ 77,327.47$ 81,761.58$
244 3/15/2035 77,327.47$ 763.10$ -$ 763.10$ 569.78$ 193.32$ 76,757.69$ 81,954.89$
245 4/15/2035 76,757.69$ 763.10$ -$ 763.10$ 571.21$ 191.89$ 76,186.48$ 82,146.79$
246 5/15/2035 76,186.48$ 763.10$ -$ 763.10$ 572.64$ 190.47$ 75,613.84$ 82,337.25$
247 6/15/2035 75,613.84$ 763.10$ -$ 763.10$ 574.07$ 189.03$ 75,039.77$ 82,526.29$
248 7/15/2035 75,039.77$ 763.10$ -$ 763.10$ 575.50$ 187.60$ 74,464.27$ 82,713.89$
249 8/15/2035 74,464.27$ 763.10$ -$ 763.10$ 576.94$ 186.16$ 73,887.33$ 82,900.05$
250 9/15/2035 73,887.33$ 763.10$ -$ 763.10$ 578.38$ 184.72$ 73,308.94$ 83,084.77$
251 10/15/2035 73,308.94$ 763.10$ -$ 763.10$ 579.83$ 183.27$ 72,729.11$ 83,268.04$
252 11/15/2035 72,729.11$ 763.10$ -$ 763.10$ 581.28$ 181.82$ 72,147.83$ 83,449.86$
253 12/15/2035 72,147.83$ 763.10$ -$ 763.10$ 582.73$ 180.37$ 71,565.10$ 83,630.23$
254 1/15/2036 71,565.10$ 763.10$ -$ 763.10$ 584.19$ 178.91$ 70,980.91$ 83,809.14$
255 2/15/2036 70,980.91$ 763.10$ -$ 763.10$ 585.65$ 177.45$ 70,395.26$ 83,986.60$
256 3/15/2036 70,395.26$ 763.10$ -$ 763.10$ 587.12$ 175.99$ 69,808.14$ 84,162.59$
257 4/15/2036 69,808.14$ 763.10$ -$ 763.10$ 588.58$ 174.52$ 69,219.56$ 84,337.11$
258 5/15/2036 69,219.56$ 763.10$ -$ 763.10$ 590.05$ 173.05$ 68,629.50$ 84,510.15$
259 6/15/2036 68,629.50$ 763.10$ -$ 763.10$ 591.53$ 171.57$ 68,037.97$ 84,681.73$
260 7/15/2036 68,037.97$ 763.10$ -$ 763.10$ 593.01$ 170.09$ 67,444.96$ 84,851.82$
261 8/15/2036 67,444.96$ 763.10$ -$ 763.10$ 594.49$ 168.61$ 66,850.47$ 85,020.44$
262 9/15/2036 66,850.47$ 763.10$ -$ 763.10$ 595.98$ 167.13$ 66,254.50$ 85,187.56$
263 10/15/2036 66,254.50$ 763.10$ -$ 763.10$ 597.47$ 165.64$ 65,657.03$ 85,353.20$
264 11/15/2036 65,657.03$ 763.10$ -$ 763.10$ 598.96$ 164.14$ 65,058.07$ 85,517.34$
265 12/15/2036 65,058.07$ 763.10$ -$ 763.10$ 600.46$ 162.65$ 64,457.61$ 85,679.99$
266 1/15/2037 64,457.61$ 763.10$ -$ 763.10$ 601.96$ 161.14$ 63,855.65$ 85,841.13$
267 2/15/2037 63,855.65$ 763.10$ -$ 763.10$ 603.46$ 159.64$ 63,252.19$ 86,000.77$
Pmt.
No.Payment Date Beginning Balance
Scheduled
Payment Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
268 3/15/2037 63,252.19$ 763.10$ -$ 763.10$ 604.97$ 158.13$ 62,647.21$ 86,158.90$
269 4/15/2037 62,647.21$ 763.10$ -$ 763.10$ 606.49$ 156.62$ 62,040.73$ 86,315.52$
270 5/15/2037 62,040.73$ 763.10$ -$ 763.10$ 608.00$ 155.10$ 61,432.73$ 86,470.62$
271 6/15/2037 61,432.73$ 763.10$ -$ 763.10$ 609.52$ 153.58$ 60,823.21$ 86,624.20$
272 7/15/2037 60,823.21$ 763.10$ -$ 763.10$ 611.05$ 152.06$ 60,212.16$ 86,776.26$
273 8/15/2037 60,212.16$ 763.10$ -$ 763.10$ 612.57$ 150.53$ 59,599.59$ 86,926.79$
274 9/15/2037 59,599.59$ 763.10$ -$ 763.10$ 614.10$ 149.00$ 58,985.48$ 87,075.79$
275 10/15/2037 58,985.48$ 763.10$ -$ 763.10$ 615.64$ 147.46$ 58,369.84$ 87,223.25$
276 11/15/2037 58,369.84$ 763.10$ -$ 763.10$ 617.18$ 145.92$ 57,752.67$ 87,369.18$
277 12/15/2037 57,752.67$ 763.10$ -$ 763.10$ 618.72$ 144.38$ 57,133.94$ 87,513.56$
278 1/15/2038 57,133.94$ 763.10$ -$ 763.10$ 620.27$ 142.83$ 56,513.68$ 87,656.39$
279 2/15/2038 56,513.68$ 763.10$ -$ 763.10$ 621.82$ 141.28$ 55,891.86$ 87,797.68$
280 3/15/2038 55,891.86$ 763.10$ -$ 763.10$ 623.37$ 139.73$ 55,268.48$ 87,937.41$
281 4/15/2038 55,268.48$ 763.10$ -$ 763.10$ 624.93$ 138.17$ 54,643.55$ 88,075.58$
282 5/15/2038 54,643.55$ 763.10$ -$ 763.10$ 626.49$ 136.61$ 54,017.06$ 88,212.19$
283 6/15/2038 54,017.06$ 763.10$ -$ 763.10$ 628.06$ 135.04$ 53,389.00$ 88,347.23$
284 7/15/2038 53,389.00$ 763.10$ -$ 763.10$ 629.63$ 133.47$ 52,759.36$ 88,480.70$
285 8/15/2038 52,759.36$ 763.10$ -$ 763.10$ 631.20$ 131.90$ 52,128.16$ 88,612.60$
286 9/15/2038 52,128.16$ 763.10$ -$ 763.10$ 632.78$ 130.32$ 51,495.38$ 88,742.92$
287 10/15/2038 51,495.38$ 763.10$ -$ 763.10$ 634.36$ 128.74$ 50,861.01$ 88,871.66$
288 11/15/2038 50,861.01$ 763.10$ -$ 763.10$ 635.95$ 127.15$ 50,225.06$ 88,998.81$
289 12/15/2038 50,225.06$ 763.10$ -$ 763.10$ 637.54$ 125.56$ 49,587.52$ 89,124.37$
290 1/15/2039 49,587.52$ 763.10$ -$ 763.10$ 639.13$ 123.97$ 48,948.39$ 89,248.34$
291 2/15/2039 48,948.39$ 763.10$ -$ 763.10$ 640.73$ 122.37$ 48,307.65$ 89,370.71$
292 3/15/2039 48,307.65$ 763.10$ -$ 763.10$ 642.33$ 120.77$ 47,665.32$ 89,491.48$
293 4/15/2039 47,665.32$ 763.10$ -$ 763.10$ 643.94$ 119.16$ 47,021.38$ 89,610.65$
294 5/15/2039 47,021.38$ 763.10$ -$ 763.10$ 645.55$ 117.55$ 46,375.83$ 89,728.20$
295 6/15/2039 46,375.83$ 763.10$ -$ 763.10$ 647.16$ 115.94$ 45,728.67$ 89,844.14$
296 7/15/2039 45,728.67$ 763.10$ -$ 763.10$ 648.78$ 114.32$ 45,079.88$ 89,958.46$
297 8/15/2039 45,079.88$ 763.10$ -$ 763.10$ 650.40$ 112.70$ 44,429.48$ 90,071.16$
298 9/15/2039 44,429.48$ 763.10$ -$ 763.10$ 652.03$ 111.07$ 43,777.45$ 90,182.24$
299 10/15/2039 43,777.45$ 763.10$ -$ 763.10$ 653.66$ 109.44$ 43,123.79$ 90,291.68$
300 11/15/2039 43,123.79$ 763.10$ -$ 763.10$ 655.29$ 107.81$ 42,468.50$ 90,399.49$
301 12/15/2039 42,468.50$ 763.10$ -$ 763.10$ 656.93$ 106.17$ 41,811.57$ 90,505.66$
302 1/15/2040 41,811.57$ 763.10$ -$ 763.10$ 658.57$ 104.53$ 41,152.99$ 90,610.19$
303 2/15/2040 41,152.99$ 763.10$ -$ 763.10$ 660.22$ 102.88$ 40,492.77$ 90,713.07$
304 3/15/2040 40,492.77$ 763.10$ -$ 763.10$ 661.87$ 101.23$ 39,830.90$ 90,814.30$
305 4/15/2040 39,830.90$ 763.10$ -$ 763.10$ 663.53$ 99.58$ 39,167.37$ 90,913.88$
306 5/15/2040 39,167.37$ 763.10$ -$ 763.10$ 665.18$ 97.92$ 38,502.19$ 91,011.80$
307 6/15/2040 38,502.19$ 763.10$ -$ 763.10$ 666.85$ 96.26$ 37,835.34$ 91,108.05$
308 7/15/2040 37,835.34$ 763.10$ -$ 763.10$ 668.51$ 94.59$ 37,166.83$ 91,202.64$
309 8/15/2040 37,166.83$ 763.10$ -$ 763.10$ 670.19$ 92.92$ 36,496.64$ 91,295.56$
310 9/15/2040 36,496.64$ 763.10$ -$ 763.10$ 671.86$ 91.24$ 35,824.78$ 91,386.80$
311 10/15/2040 35,824.78$ 763.10$ -$ 763.10$ 673.54$ 89.56$ 35,151.24$ 91,476.36$
312 11/15/2040 35,151.24$ 763.10$ -$ 763.10$ 675.23$ 87.88$ 34,476.01$ 91,564.24$
313 12/15/2040 34,476.01$ 763.10$ -$ 763.10$ 676.91$ 86.19$ 33,799.10$ 91,650.43$
314 1/15/2041 33,799.10$ 763.10$ -$ 763.10$ 678.61$ 84.50$ 33,120.49$ 91,734.93$
Pmt.
No.Payment Date Beginning Balance
Scheduled
Payment Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
315 2/15/2041 33,120.49$ 763.10$ -$ 763.10$ 680.30$ 82.80$ 32,440.19$ 91,817.73$
316 3/15/2041 32,440.19$ 763.10$ -$ 763.10$ 682.00$ 81.10$ 31,758.19$ 91,898.83$
317 4/15/2041 31,758.19$ 763.10$ -$ 763.10$ 683.71$ 79.40$ 31,074.48$ 91,978.23$
318 5/15/2041 31,074.48$ 763.10$ -$ 763.10$ 685.42$ 77.69$ 30,389.06$ 92,055.91$
319 6/15/2041 30,389.06$ 763.10$ -$ 763.10$ 687.13$ 75.97$ 29,701.93$ 92,131.88$
320 7/15/2041 29,701.93$ 763.10$ -$ 763.10$ 688.85$ 74.25$ 29,013.08$ 92,206.14$
321 8/15/2041 29,013.08$ 763.10$ -$ 763.10$ 690.57$ 72.53$ 28,322.51$ 92,278.67$
322 9/15/2041 28,322.51$ 763.10$ -$ 763.10$ 692.30$ 70.81$ 27,630.22$ 92,349.48$
323 10/15/2041 27,630.22$ 763.10$ -$ 763.10$ 694.03$ 69.08$ 26,936.19$ 92,418.55$
324 11/15/2041 26,936.19$ 763.10$ -$ 763.10$ 695.76$ 67.34$ 26,240.43$ 92,485.89$
325 12/15/2041 26,240.43$ 763.10$ -$ 763.10$ 697.50$ 65.60$ 25,542.92$ 92,551.50$
326 1/15/2042 25,542.92$ 763.10$ -$ 763.10$ 699.25$ 63.86$ 24,843.68$ 92,615.35$
327 2/15/2042 24,843.68$ 763.10$ -$ 763.10$ 700.99$ 62.11$ 24,142.68$ 92,677.46$
328 3/15/2042 24,142.68$ 763.10$ -$ 763.10$ 702.75$ 60.36$ 23,439.94$ 92,737.82$
329 4/15/2042 23,439.94$ 763.10$ -$ 763.10$ 704.50$ 58.60$ 22,735.43$ 92,796.42$
330 5/15/2042 22,735.43$ 763.10$ -$ 763.10$ 706.26$ 56.84$ 22,029.17$ 92,853.26$
331 6/15/2042 22,029.17$ 763.10$ -$ 763.10$ 708.03$ 55.07$ 21,321.14$ 92,908.33$
332 7/15/2042 21,321.14$ 763.10$ -$ 763.10$ 709.80$ 53.30$ 20,611.34$ 92,961.63$
333 8/15/2042 20,611.34$ 763.10$ -$ 763.10$ 711.57$ 51.53$ 19,899.76$ 93,013.16$
334 9/15/2042 19,899.76$ 763.10$ -$ 763.10$ 713.35$ 49.75$ 19,186.41$ 93,062.91$
335 10/15/2042 19,186.41$ 763.10$ -$ 763.10$ 715.14$ 47.97$ 18,471.27$ 93,110.88$
336 11/15/2042 18,471.27$ 763.10$ -$ 763.10$ 716.93$ 46.18$ 17,754.35$ 93,157.05$
337 12/15/2042 17,754.35$ 763.10$ -$ 763.10$ 718.72$ 44.39$ 17,035.63$ 93,201.44$
338 1/15/2043 17,035.63$ 763.10$ -$ 763.10$ 720.51$ 42.59$ 16,315.11$ 93,244.03$
339 2/15/2043 16,315.11$ 763.10$ -$ 763.10$ 722.32$ 40.79$ 15,592.80$ 93,284.82$
340 3/15/2043 15,592.80$ 763.10$ -$ 763.10$ 724.12$ 38.98$ 14,868.68$ 93,323.80$
341 4/15/2043 14,868.68$ 763.10$ -$ 763.10$ 725.93$ 37.17$ 14,142.75$ 93,360.97$
342 5/15/2043 14,142.75$ 763.10$ -$ 763.10$ 727.75$ 35.36$ 13,415.00$ 93,396.33$
343 6/15/2043 13,415.00$ 763.10$ -$ 763.10$ 729.57$ 33.54$ 12,685.43$ 93,429.87$
344 7/15/2043 12,685.43$ 763.10$ -$ 763.10$ 731.39$ 31.71$ 11,954.04$ 93,461.58$
345 8/15/2043 11,954.04$ 763.10$ -$ 763.10$ 733.22$ 29.89$ 11,220.83$ 93,491.46$
346 9/15/2043 11,220.83$ 763.10$ -$ 763.10$ 735.05$ 28.05$ 10,485.77$ 93,519.52$
347 10/15/2043 10,485.77$ 763.10$ -$ 763.10$ 736.89$ 26.21$ 9,748.89$ 93,545.73$
348 11/15/2043 9,748.89$ 763.10$ -$ 763.10$ 738.73$ 24.37$ 9,010.15$ 93,570.10$
349 12/15/2043 9,010.15$ 763.10$ -$ 763.10$ 740.58$ 22.53$ 8,269.58$ 93,592.63$
350 1/15/2044 8,269.58$ 763.10$ -$ 763.10$ 742.43$ 20.67$ 7,527.15$ 93,613.30$
351 2/15/2044 7,527.15$ 763.10$ -$ 763.10$ 744.29$ 18.82$ 6,782.86$ 93,632.12$
352 3/15/2044 6,782.86$ 763.10$ -$ 763.10$ 746.15$ 16.96$ 6,036.72$ 93,649.08$
353 4/15/2044 6,036.72$ 763.10$ -$ 763.10$ 748.01$ 15.09$ 5,288.70$ 93,664.17$
354 5/15/2044 5,288.70$ 763.10$ -$ 763.10$ 749.88$ 13.22$ 4,538.82$ 93,677.39$
355 6/15/2044 4,538.82$ 763.10$ -$ 763.10$ 751.76$ 11.35$ 3,787.07$ 93,688.74$
356 7/15/2044 3,787.07$ 763.10$ -$ 763.10$ 753.64$ 9.47$ 3,033.43$ 93,698.21$
357 8/15/2044 3,033.43$ 763.10$ -$ 763.10$ 755.52$ 7.58$ 2,277.91$ 93,705.79$
358 9/15/2044 2,277.91$ 763.10$ -$ 763.10$ 757.41$ 5.69$ 1,520.50$ 93,711.48$
359 10/15/2044 1,520.50$ 763.10$ -$ 763.10$ 759.30$ 3.80$ 761.20$ 93,715.29$
360 11/15/2044 761.20$ 763.10$ -$ 761.20$ 759.30$ 1.90$ -$ 93,717.19$
Villas at Buda
Villas at Buda
Picerne Longhorn Landing
Project Location
Southeast corner of Robert S. Light and South FM 967
Project Profile, Unit Mix and Income Mix
• Townhome-style apartment buildings with individual private
entrances
• 2-story buildings; 137 units
Unit Mix Income Mix
1 bedroom 27 30% AMI 21
2 bedroom 55 50% AMI 47
3 bedroom 55 60% AMI 47
Market 22
Financial Impact and Support Request
• Approximate HaysCAD Value of Project: $7,900,000 (anticipated net operating income divided by a CAP rate of 10%)
• Estimated Annual property tax generated based on 0.2979/$100: $23,500
• Estimated Parkland Dedication & Development Fees-in-lieu: $178,000
• Estimated Fees (including permitting & impact fees): $83,000 (not on water system, so no water impact or tap fees)
• Applicant is requesting $120,750 which in the City’s discretion may be in the form of a grant or in-kind contribution, or a
permanent loan with an interest rate not to exceed 3% annually for a term of at least 15 years and minimum amortization
period of 30 years (or combination thereof); form to be determined by the City Council prior to 9/1/2014. Such an approach
does have some minor staff impact in the Finance Department to administer, applicant will need to prepare debt schedule.
Water Infrastructure
• Project is located in the Monarch Utilities water service area
Wastewater Infrastructure
• Extension of wastewater lines will be required with this project. The UDC requires such extensions be done at the
developer’s expense. Staff and the project engineer have not analyzed line depths in detail, but the two points of access to
an existing gravity line are South FM 967 near Davey Plumbing and Robert S. Light Blvd. near the existing apartments. Staff
notes that the Robert S. Light connection will involve coordination and agreements with the South Buda WCID.
• Staff notes that the extension of a wastewater line to this property could potentially serve vacant properties and reduce the
cost of development for future businesses in the area.
Transportation
• Project involves a single access point onto Robert S. Light, but property has frontage on South 967 as well for a potential
second access point. Project is likely to trigger TIA and ROW dedication per Transportation Master Plan
Environmental Impact
• No significant environmental encumbrances are known for this site
Comprehensive Plan
The project is located in the “Industrial Employment Character District” and “Business Mixed Use Node” per the Buda 2030
Comprehensive Plan. This means that the appropriateness of multifamily use depends on surrounding uses and particular site,
location & design characteristics. Key phrases from the Plan’s description of this character district include:
• Primary purpose is to provide a home for industrial employment uses that are often incompatible with residential (primarily
when the uses exhibit performance characteristics that will cause incompatibility)
• Compatibility standards will need to be established between these uses to mitigate conflicts in land use
• Housing is not an appropriate use for this district at this time since it is significantly incompatible with heavy industrial uses
(referring to single family). The only type of housing that should be considered in this area is housing for workers. Any
market analysis conducted to evaluate the demand for housing in this area should acknowledge this situation.
Annexation, Zoning & Adjacencies
• The project is currently zoned I1 – Light Industrial & Warehousing; multifamily is permitted by Special Use Permit
• Property is directly adjacent to Texas Lehigh Cement Company, which is cause for some concern due to compatibility
• Other adjacent uses include a business/employer to the east; area zoning calls for similar uses
• Buda EDC has stated that the presence of existing multifamily already limits industrial development along Robert S. Light
Blvd. to lighter employment uses rather than heavy industrial; additional multifamily in this area is not a significant
hindrance.
Police Services
Staff is applying 0.75 annual calls for service per unit as an assumption based upon research of existing multifamily. Based on this,
the project is anticipated to generate 103 calls for service annually.
RESOLUTION NO. _________
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
BUDA, TEXAS APPROVING FUNDING ASSISTANCE FOR THE
APPLICATION OF LONGHORN’S LANDING, LP TO THE
TEXAS DEPARTMENT OF HOUSING AND COMMUNITY
AFFAIRS FOR 2014 COMPETITIVE NINE-PERCENT HOUSING
TAX CREDITS AND FOR THE DEVELOPMENT OF
LONGHORN’S LANDING TO BE LOCATED ON
APPROXIMATELY 14+/- ACRES OF LAND AT SOUTH LOOP 4
(FM 967) AND ROBERT S. LIGHT BOULEVARD, IN THE CITY
OF BUDA, HAYS COUNTY, TEXAS 78610.
WHEREAS, Longhorn’s Landing, LP, a to be formed limited partnership, through an affiliated
entity (“Applicant”) has brought to the City of Buda a proposal to develop an affordable rental housing
community named Longhorn’s Landing (“Project”) to be located on 14+/- acres of land at South Loop 4
(FM 967) and Robert S. Light Boulevard in the City of Buda, Hays County, Texas 78610; and
WHEREAS, the Applicant intends to file an application to the Texas Department of Housing and
Community Affairs (TDHCA) for an allocation of 2014 Competitive 9% Housing Tax Credits (HTC) for
the construction and development of the Project; and
WHEREAS, the Applicant has requested from the City of Buda support for its application to
TDHCA and for the development of the Project; and
WHEREAS, the City Council of the City of Buda is desirous of providing adequate affordable
housing for persons of low and moderate income within the City; and
WHEREAS, one of the most effective ways of providing such affordable housing is through the
development of multifamily housing with HTCs allocated by TDHCA; and
WHEREAS, in accordance to Section 11.9(d)(2) of the 2014 Qualified Allocation Plan, an
application may qualify for points for a resolution voted on and adopted from the governing body
expressly setting forth a commitment to provide a certain level of development funding assistance by the
political subdivision; and
WHEREAS, the City finds that this Resolution was adopted at a meeting of the Buda City
Council on February 18, 2014 that was held in strict compliance with the Texas Open Meetings Act at
which a quorum of the City Council Members were present and voting;
NOW, THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City of Buda,
Texas that:
Section 1. The City of Buda hereby approves a commitment to the Project of funds in an amount
of $120,750, which in the City’s discretion may be in the form of a grant or in-kind contribution, or a
permanent loan with an interest rate not to exceed three percent per annum and a term of at least fifteen
years and a minimum amortization period of thirty (30) years, or a combination thereof. The funds for this
proposed grant, contribution, or loan have not been provided to the City by the Applicant or a related
party to the Applicant.
Page 1 of 2
Section 2. Notwithstanding anything herein to the contrary, the funding commitment by the City
of Buda as set forth in this Resolution shall be contingent on (i) the Applicant securing HTCs from
TDHCA in an amount sufficient to develop the Project, (ii) site and design plan approval of the proposed
development by the City of Buda, and (iii) approval by the City of Buda of all matters discovered through
the due diligence conducted by or on behalf of the City of Buda in connection with the development of
the Project.
Section 3. That for and on behalf of the Governing Body, Kenneth Williams, City Manager, is
hereby authorized, empowered and directed to certify these resolutions to the Texas Department of
Housing and Community Affairs.
Section 4. Should any portion or part of this Resolution be held for any reason invalid or
unenforceable by a court of competent jurisdiction, the same shall not be construed to affect any other
valid portion hereof, but all valid portions hereof shall remain in full force and effect.
DULY PASSED and APPROVED, on the ___ day of February, 2014.
CITY OF BUDA, TEXAS
____________________________________
Todd Ruge, Mayor
ATTEST:
______________________________
Joy Hart, City Secretary
Page 2 of 2
EXHIBIT A
Woodlands‐Sugar Land MSA; McAllen‐Edinburg‐Mission MSA; or San Antonio‐New Braunfels
MSA.
(B) Applicants seeking points under subparagraph (A) and this paragraph are required to satisfy the
requirements of the Section 811 Program as outlined in the Section 811 Program guidance and
contracts unless a specific requirement of the Section 811 Program is otherwise waived by the Board.
The Section 811 Program provides project‐based rental assistance to Developments to serve
extremely low income persons with disabilities (who meet target population requirements and are
age 18 and over, but less than 62 years of age) who are referred to each participating Development
by the Department. Participation in the Section 811 Program requires execution of a Rental
Assistance Contract by the later of Carryover Allocation deadline or upon preparation of a Rental
Assistance Contract by the Department. Because HUD has not yet released Section 811 Program
guidance or agreements between the Department and HUD, the Board may make adjustments or
accommodations for participation of each Applicant in this Program, however, once elected,
Applicants may not withdraw their commitment to participate in the Section 811 Program unless so
authorized by the Board or as a result of program eligibility issues. Should an Applicant receive a
Housing Tax Credit award, the Department may allow Applicants to identify an alternate existing
Development in the Applicant’s or an Affiliate’s portfolio, consistent with Department Section 811
Program criteria, to participate in the Section 811 Program.
(C) Only if the Applicant that is making application for a Development Site does not meet the
requirements in subparagraph (A) of this paragraph may an Application qualify for points under this
subparagraph. An Application will receive two points for Developments for which at least 5 percent
of the Units are set aside for Persons with Special Needs. For purposes of this scoring item, Persons
with Special Needs is defined as households where one individual has with alcohol and/or drug
addictions, Colonia resident, Persons with Disabilities, Violence Against Woman Act Protections
(domestic violence, dating violence, sexual assault, and stalking), persons with HIV/AIDS, homeless
populations, veterans, wounded warriors (as defined by the Caring for Wounded Warriors Act of
2008), and migrant farm workers. Throughout the Compliance Period, unless otherwise permitted
by the Department, the Development Owner agrees to affirmatively market Units to Persons with
Special Needs. In addition, the Department will require an initial minimum twelve‐month period
during which Units must either be occupied by Persons with Special Needs or held vacant. After the
initial twelve‐month period, the Development Owner will no longer be required to hold Units vacant
for households with special needs, but will be required to continue to affirmatively market Units to
households with special needs.
(8) Location Outside of “Food Deserts”. An Application with a Development Site that is located outside of
a “food desert” qualifies for one (1) point. A food desert is a census tract identified as low income and low
access at one (1) mile for urban areas and ten (10) miles for rural areas (also known as the Original Food
Desert measure) based on the U. S. Department of Agriculture’s Food Access Research Atlas. Applicants
must submit a map using the Food Access Research Atlas indicating that the Development Site is not
located in a food desert. Applicants can access said map at http://www.ers.usda.gov/data‐products/food‐
access‐research‐atlas/. If the location of the map or data changes, the Department will provide updated
information concerning accessing the map or data on the Department’s website.
(d) Criteria promoting community support and engagement.
(1) Local Government Support. An Application may qualify for up to seventeen (17) points for a
resolution or resolutions voted on and adopted by the bodies reflected in subparagraphs (A) – (C) of this
paragraph, as applicable. The resolution(s) must be dated prior to April 1, 2014 and must be submitted to
the Department no later than the Final Input from Elected Officials Delivery Date as identified in §11.2 of
this chapter. Such resolution(s) must specifically identify the Development whether by legal description,
address, Development name, Application number or other verifiable method. For an Application with a
proposed Development Site that, at the time of the initial filing of the Application, is:
(A) Within a municipality, the Application will receive:
Page 16 of 28
(i) seventeen (17) points for a resolution from the Governing Body of that municipality expressly
setting forth that the municipality supports the Application or Development; or
(ii) fourteen (14) points for a resolution from the Governing Body of that municipality expressly
setting forth that the municipality has no objection to the Application or Development.
(B) Within the extraterritorial jurisdiction of a municipality, the Application may receive points
under clauses (i) or (ii) of this subparagraph and under clauses (iii) or (iv) of this subparagraph:
(i) eight and one‐half (8.5) points for a resolution from the Governing Body of that municipality
expressly setting forth that the municipality supports the Application or Development; or
(ii) seven (7) points for a resolution from the Governing Body of that municipality expressly
setting forth that the municipality has no objection to the Application or Development; and
(iii) eight and one‐half (8.5) points for a resolution from the Governing Body of that county
expressly setting forth that the county supports the Application or Development; or
(iv) seven (7) points for a resolution from the Governing Body of that county expressly setting
forth that the county has no objection to the Application or Development.
(C) Within a county and not within a municipality or the extraterritorial jurisdiction of a
municipality:
(i) seventeen (17) points for a resolution from the Governing Body of that county expressly
setting forth that the county supports the Application or Development; or
(ii) fourteen (14) points for a resolution from the Governing Body of that county expressly
setting forth that the county has no objection to the Application or Development.
(2) Commitment of Development Funding by Local Political Subdivision. (§2306.6710(b)(1)(E)) An
Application may receive up to fourteen (14) points for a commitment of Development funding from the
city (if located in a city) or county in which the Development Site is located. Development funding from
instrumentalities of a city or county will not qualify for points under this scoring item unless such
instrumentalities first award the funds to the city or county for their administration, at least 60 percent of
the governing board of the instrumentality consists of city council members from the city in which the
Development Site is located (if located in a city) or county commissioners from the county in which the
Development Site is located, or 100 percent of the governing board of the instrumentality is appointed by
the elected officials of the city in which the Development Site is located (if located within a city) or county
in which the Development Site is located. The government instrumentality providing Development
funding under this scoring item may not be a Related Party to the Applicant. Development funding must
be provided in the form of a construction and/or permanent loan with an interest rate no higher than 3
percent per annum and term of at least 5 years, a grant, an in‐kind contribution, a contribution which will
support the Development, such as vouchers, or combination thereof. Funds cannot have been provided to
the Local Political Subdivision by the Applicant or a Related Party. Should the Local Political Subdivision
borrow funds in order to commit funding to the Development, the Applicant or a Related Party to the
Applicant can provide collateral or guarantees for the loan only to the Local Political Subdivision. HOME
Investment Partnership Program or Community Development Block Grant funds administered by the
State of Texas cannot be utilized for points under this scoring item except where the city, county, or
instrumentality is an actual applicant for and subrecipient of such funds for use in providing financial
support to the proposed Development. The Applicant must provide evidence in the Application that an
application or request for the development funds has been submitted in the form of an acknowledgement
from the applicable city or county. The acknowledgement must also state that a final decision with regard
to the awards of such funding is expected to occur no later than September 1. A firm commitment of
funds is required by Commitment or points will be lost (except for Applicants electing the point under
subparagraph (C) of this paragraph). While the specific source can change, the funding secured must have
been eligible at the time the Application was submitted.
Page 17 of 28
(A) Option for Development Sites located in the ETJ of a municipality. For an Application with a
Development Site located in the ETJ of a municipality, whether located in an unincorporated Place or
not, the Applicant may seek Development funding from the municipality or a qualifying
instrumentality of the municipality, provided the Applicant uses the population of said municipality
as the basis for determining the Application’s eligible points under subparagraph (B) of this
paragraph. Applicants are encouraged to contact Department staff where an Applicant is uncertain of
how to determine the correct Development funding amounts or qualifying Local Political
Subdivisions.
(B) Applications will qualify for points based on the amount of funds at the levels described in
clauses (i) – (v) of this subparagraph. For the purpose of this calculation, the Department will use the
population of the Place from which the Development Site’s Rural or Urban Area designation is
derived.
(i) eleven (11) points for a commitment by a Local Political Subdivision of the lesser of the
population of the Place multiplied by a factor of 0.15 in funding per Low Income Unit or $15,000
in funding per Low Income Unit;
(ii) ten (10) points for a commitment by a Local Political Subdivision of the lesser of the
population of the Place multiplied by a factor of 0.10 in funding per Low Income Unit or $10,000
in funding per Low Income Unit;
(iii) nine (9) points for a commitment by a Local Political Subdivision of the lesser of population
of the Place multiplied by a factor of 0.05 in funding per Low Income Unit or $5,000 in funding
per Low Income Unit;
(iv) eight (8) points for a commitment by a Local Political Subdivision of the lesser of the
population of the Place multiplied by a factor of 0.025 in funding per Low Income Unit or $1,000
in funding per Low Income Unit; or
(v) seven (7) points for a commitment by a Local Political Subdivision of the lesser of the
population of the Place multiplied by a factor of 0.01 in funding per Low Income Unit or $500 in
funding per Low Income Unit.
(C) Two (2) points may be added to the points in subparagraph (B) (i) – (v) of this paragraph and
subparagraph (D) of this paragraph if the Applicant provides a firm commitment for funds in the
form of a resolution from the Local Political Subdivision and provides a commitment for the same
source(s) at Commitment. The resolution must reflect terms that are consistent with the
requirements of this paragraph.
(D) One (1) point may be added to the points in subparagraph (B)(i) – (v) of this paragraph and
subparagraph (C) of this paragraph if the financing to be provided is in the form of a grant or in‐kind
contribution meeting the requirements of this paragraph or a permanent loan with a minimum term
of fifteen (15) years, minimum amortization period of thirty (30) years, and interest rate no higher
than 3 percent per annum. An Applicant must certify that they intend to maintain the Development
funding for the full term of the funding, barring unanticipated events. For Applicants electing this
additional point that have not yet received an award or commitment, the structure of the funds will
be reviewed at Commitment for compliance with this provision.
(3) Declared Disaster Area. (§2306.6710(b)(1)) An Application may receive ten (10) points if at the time
of Application submission or at any time within the two‐year period preceding the date of submission,
the Development Site is located in an area declared to be a disaster area under the Texas Government
Code, §418.014.
(4) Quantifiable Community Participation. (§2306.6710(b)(1)(B); §2306.6725(a)(2)) An Application may
qualify for up to nine (9) points for written statements from a Neighborhood Organization. In order for
the statement to qualify for review, the Neighborhood Organization must have been in existence prior to
the Pre‐Application Final Delivery Date, and its boundaries must contain the Development Site. In
addition, the Neighborhood Organization must be on record with the state (includes the Department) or
county in which the Development Site is located. Neighborhood Organizations may request to be on
Page 18 of 28
EXHIBIT B
Longhorn’s Landing
Financing Proposal to the City of Buda, Texas
City of Buda Loan for Longhorn’s Landing Development
Borrower: A single-purpose to-be-formed entity affiliated with Picerne that will own the
rental community known as Longhorn’s Landing.
Loan Amount: $120,750
Term: 15 years
Amortization: 30 years
Interest Rate: 3% (Maximum Allowed by TDHCA)
Repayment Terms: Monthly Payments of principal and interest calculated based on the above
terms. At the end of the 15 year-period the outstanding balance will be due and
payable in the form of a balloon payment. The City will charge a processing fee
for the processing of each payment. We project that processing fee at 10% of
the payment amount. The processing fee will be increased annually by up to 3%
to reflect inflation. Please refer to attached amortization Schedule for a detail
on the monthly payments and projected outstanding balance at the end of the
term. The processing may be adjusted by mutual agreement of the parties to
better reflect the City’s actual processing costs once those are determined.
Prepayment: Borrower may prepay the outstanding principal balance plus interest accrued at
any time without penalty. Upon Stabilization of the property, Borrower will
repay a portion of the principal equal to the projected balloon payment due at
the end of the term. Stabilization is projected to occur on the 24th month of the
term of the loan. This balloon payment is projected to be $72,500.
Closing Conditions: Loan is subject to:
- Award of LIHTCs by TDHCA
- Closing by the borrower on all other financing for the
development. It is anticipated that such other financing will
be tax credit equity obtained through the sale of the tax
credits and inclusion of an investor limited partner into the
borrowing entity, a construction loan or some similar loan
to finance the construction of the development, and a
permanent loan.
- Approval by City staff, and as needed, by City Council of the
final site plan and building plans for the proposed
development.
- Additional terms as described in the proposed resolution of
financial support
-
Closing Costs: At closing the City shall receive an origination fee equal to 2% of the loan
amount ($2,394.65) as is typical with commercial loans. In addition to this
closing fee, at closing Borrower will reimburse the City for any third –party costs
related to the making of this loan up to an amount of $10,000. This
reimbursement may also be used to offset staff time directly related to the
making of this loan, such as City Attorney time for drafting or reviewing loan
documents, financial staff time related to reviewing the business terms of this
proposed loan, etc.
Penalties: Late payments will incur a late fee of $100. The City may also charge a Default
Interest Rate if any payment is more than 30 days late. Default Interest Rate
will apply until all payments are brought current. Default Interest rate will be
determined in the loan documents
Guarantees: The City will receive a second mortgage on the land and improvements to be
known as Longhorn’s Landing.
Borrower or its affiliates will guarantee the completion of the
development. Certificates of Occupancy issued by the City of Buda will serve as
evidence of completion. In the event the development is not completed within
24 months of the making of this loan, Borrower will repay this loan in full to the
City. The City may elect to offer extensions of this term, at its discretion, if
requested by Borrower.
Longhorn's Landing
Loan Schedule
CITY OF BUDA LOAN
Lender TBD
Amount $120,750 Interest Income over 15 Years 12,210$
Lender Orig Fee 2.0%Origination Fee 2,415$
Reimbursement for Closing Costs 10,000$
Interest Rate 3.000%Total Income (including cost Reimbursements)24,625$
Term 180
Amortization 360
Interest Only?No $23,000
Monthly Payment $302 $404,775
Annual Payment $3,623
CITY LOAN
Period Date Payment Interest Principal
Processing
Fee
Total
Payment to
City
Outstanding
Balance
$119,732
1 3/1/2017 505 299 205 50 555 119,527
2 4/1/2017 505 299 206 50 555 119,321
3 5/1/2017 505 298 206 50 555 119,114
4 6/1/2017 505 298 207 50 555 118,907
5 7/1/2017 505 297 208 50 555 118,700
6 8/1/2017 505 297 208 50 555 118,492
7 9/1/2017 505 296 209 50 555 118,283
8 10/1/2017 505 296 209 50 555 118,074
9 11/1/2017 505 295 210 50 555 117,864
10 12/1/2017 505 295 210 50 555 117,654 1
11 1/1/2018 505 294 211 50 555 117,444
12 2/1/2018 505 294 211 50 555 117,232
13 3/1/2018 505 293 212 52 557 117,021
14 4/1/2018 505 293 212 52 557 116,809
15 5/1/2018 505 292 213 52 557 116,596
16 6/1/2018 505 291 213 52 557 116,382
17 7/1/2018 505 291 214 52 557 116,169
18 8/1/2018 505 290 214 52 557 115,954
19 9/1/2018 505 290 215 52 557 115,739
20 10/1/2018 505 289 215 52 557 115,524
21 11/1/2018 505 289 216 52 557 115,308
22 12/1/2018 505 288 217 52 557 115,091 2
23 1/1/2019 505 288 217 52 557 114,874
24 2/1/2019 73,005 287 72,718 52 73,057 42,157
25 3/1/2019 505 105 399 54 558 41,757
26 4/1/2019 505 104 400 54 558 41,357
27 5/1/2019 505 103 401 54 558 40,955
28 6/1/2019 505 102 402 54 558 40,553
29 7/1/2019 505 101 403 54 558 40,150
30 8/1/2019 505 100 404 54 558 39,745
31 9/1/2019 505 99 405 54 558 39,340
32 10/1/2019 505 98 406 54 558 38,933
33 11/1/2019 505 97 407 54 558 38,526
34 12/1/2019 505 96 408 54 558 38,117 3
35 1/1/2020 505 95 410 54 558 37,708
36 2/1/2020 505 94 411 54 558 37,297
37 3/1/2020 505 93 412 55 560 36,886
38 4/1/2020 505 92 413 55 560 36,473
39 5/1/2020 505 91 414 55 560 36,060
40 6/1/2020 505 90 415 55 560 35,645
41 7/1/2020 505 89 416 55 560 35,229
42 8/1/2020 505 88 417 55 560 34,813
43 9/1/2020 505 87 418 55 560 34,395
44 10/1/2020 505 86 419 55 560 33,976
45 11/1/2020 505 85 420 55 560 33,556
46 12/1/2020 505 84 421 55 560 33,135 4
47 1/1/2021 505 83 422 55 560 32,713
48 2/1/2021 505 82 423 55 560 32,290
49 3/1/2021 505 81 424 57 562 31,866
50 4/1/2021 505 80 425 57 562 31,441
Total Tax Income Over Loan Term (3% Annual Increases)
Tax Income to City Year 1
RETURNS TO THE CITY OF BUDA
ADDITIONAL BENEFITS TO THE CITY OF BUDA
51 5/1/2021 505 79 426 57 562 31,015
52 6/1/2021 505 78 427 57 562 30,588
53 7/1/2021 505 76 428 57 562 30,159
54 8/1/2021 505 75 429 57 562 29,730
55 9/1/2021 505 74 430 57 562 29,299
56 10/1/2021 505 73 432 57 562 28,868
57 11/1/2021 505 72 433 57 562 28,435
58 12/1/2021 505 71 434 57 562 28,002 5
59 1/1/2022 505 70 435 57 562 27,567
60 2/1/2022 505 69 436 57 562 27,131
61 3/1/2022 505 68 437 59 563 26,694
62 4/1/2022 505 67 438 59 563 26,256
63 5/1/2022 505 66 439 59 563 25,817
64 6/1/2022 505 65 440 59 563 25,376
65 7/1/2022 505 63 441 59 563 24,935
66 8/1/2022 505 62 442 59 563 24,493
67 9/1/2022 505 61 444 59 563 24,049
68 10/1/2022 505 60 445 59 563 23,604
69 11/1/2022 505 59 446 59 563 23,159
70 12/1/2022 505 58 447 59 563 22,712 6
71 1/1/2023 505 57 448 59 563 22,264
72 2/1/2023 505 56 449 59 563 21,815
73 3/1/2023 505 55 450 60 565 21,364
74 4/1/2023 505 53 451 60 565 20,913
75 5/1/2023 505 52 453 60 565 20,460
76 6/1/2023 505 51 454 60 565 20,007
77 7/1/2023 505 50 455 60 565 19,552
78 8/1/2023 505 49 456 60 565 19,096
79 9/1/2023 505 48 457 60 565 18,639
80 10/1/2023 505 47 458 60 565 18,181
81 11/1/2023 505 45 459 60 565 17,721
82 12/1/2023 505 44 460 60 565 17,261 7
83 1/1/2024 505 43 462 60 565 16,799
84 2/1/2024 505 42 463 60 565 16,337
85 3/1/2024 505 41 464 62 567 15,873
86 4/1/2024 505 40 465 62 567 15,407
87 5/1/2024 505 39 466 62 567 14,941
88 6/1/2024 505 37 467 62 567 14,474
89 7/1/2024 505 36 469 62 567 14,005
90 8/1/2024 505 35 470 62 567 13,535
91 9/1/2024 505 34 471 62 567 13,064
92 10/1/2024 505 33 472 62 567 12,592
93 11/1/2024 505 31 473 62 567 12,119
94 12/1/2024 505 30 474 62 567 11,644 8
95 1/1/2025 505 29 476 62 567 11,169
96 2/1/2025 505 28 477 62 567 10,692
97 3/1/2025 505 27 478 64 569 10,214
98 4/1/2025 505 26 479 64 569 9,735
99 5/1/2025 505 24 480 64 569 9,254
100 6/1/2025 505 23 482 64 569 8,772
101 7/1/2025 505 22 483 64 569 8,290
102 8/1/2025 505 21 484 64 569 7,805
103 9/1/2025 505 20 485 64 569 7,320
104 10/1/2025 505 18 486 64 569 6,834
105 11/1/2025 505 17 488 64 569 6,346
106 12/1/2025 505 16 489 64 569 5,857 9
107 1/1/2026 505 15 490 64 569 5,367
108 2/1/2026 505 13 491 64 569 4,876
109 3/1/2026 505 12 493 66 571 4,383
110 4/1/2026 505 11 494 66 571 3,889
111 5/1/2026 505 10 495 66 571 3,394
112 6/1/2026 505 8 496 66 571 2,898
113 7/1/2026 505 7 498 66 571 2,400
114 8/1/2026 505 6 499 66 571 1,901
115 9/1/2026 505 5 500 66 571 1,401
116 10/1/2026 505 4 501 66 571 900
117 11/1/2026 505 2 503 66 571 397
118 12/1/2026 505 1 504 66 571 (106)10
LONGHORN’S LANDING OVERVIEW
02/22/2014 Picerne Development Corporation
1
LONGHORN’S LANDING OVERVIEW
02/22/2014 Picerne Development Corporation
2
City of Georgetown, Texas
SUBJECT:
Discussion and possible action on a recommendation to develop a comprehensive plan, in
collaboration with stakeholders and public-private partnerships, using a plethora of resources to
build sustainable and affordable communities with housing as the medium.--Walt Doering,
Boardmember
ITEM SUMMARY:
Please see the attached report.
FINANCIAL IMPACT:
None at this time.
SUBMITTED BY:
Jennifer Bills, Housing Coordinator
ATTACHMENTS:
Description Type
Comprehensive Approach to Housing Affordability in
Georgetown Cover Memo
2030 Plan Chapter 4--Plan Administration Backup Material
Comprehensive Approach to Creating Sustainable and Affordable Communities
in Georgetown with Housing as the Medium
The Georgetown Housing Advisory Board (GHAB) was established to advise City Council for
ensuring “the City has housing affordable for residents at all economic levels.” The reality is, its
advice has not been sought at all levels. Rather, its focus has been on providing units to residents
below 80% of median household income. And, with that task, it's faced continuous stumbling blocks in
building affordable housing. Through the years, it's struggled to get the council and citizenry to make
this issue of building affordable housing a major priority for those who work in our city, but don't have
the option to live, work and play in it.
For example, in 2008, 15 comprehensive policy recommendations (see Attachment #1) were crafted by
GHAB and the Planning Department with Mullin and Lonegran, consultants. It included input and
buy-in from many stakeholders. It was coordinated by the housing coordinator and submitted to the
council for approval. The plan contained significant recommendations for reducing the housing deficit.
It was a comprehensive approach. It was creative. It made good sense. It reflected new and emerging
ways for cities to address the problem. But the council tabled it. Subsequently, the recommendations
were pulled from the agenda.
As a result, progress was thwarted. Georgetown's opportunity for ensuring affordable housing for
residents suffered a severe setback. While home building for the wealthy grew significantly, and still is
today, the reverse took place for workers (e. g. service workers, retail clerks, construction workers,
utility employees, firefighters, police, school teachers, nurses, etc.). Yet, our workers are vital to the
city's success and essential for Georgetown to maintain its quality of life.
In 2012, GHAB was given seven recommendations (see Attachment #2) by council for reducing the
affordable housing deficit. The recommendations were derived from work in 2008. Since then,
GHAB has focused its work on its highest priorities, namely: (1) developing incentives for housing
developers to create workforce housing, and (2) determining locations appropriate for multifamily
housing within the city.
Within the past year and a half, GHAB's work has picked up speed. Yet GHAB remains stifled. It's
prevented from creating a holistic approach with more quality solutions for resolving this problem, due
to a belief no revisions can be made to the given recommendations until 2016. Not so! At the same
time, resistance from some members of council remains. This, too, has slowed the implementation of
affordable housing. But there's hope. We have a mayor who is supportive of affordable housing. Also,
most council members are ready to move forward, at least with the two recommendations tasked to
GHAB. They realize Georgetown can no longer drag its feet. They realize the opportunity to create
affordable housing, much less sustainable communities, is rapidly slipping away unless we act with
urgency.
Despite that, another problem still remains. Current recommendations from GHAB, soon to be
presented to council for approval, are limited. They, like the remaining five other recommendations
are narrow in scope. They're not sufficient to reduce the problem, much less solve it. They focus
solely on traditional methods for building affordable housing. Such recommendations continue to
make housing affordable now, but not in subsequent years. They do not address making housing
affordable over time. Nor will they reduce significantly our need for affordable housing. In addition,
the results of implementing building incentives, the #1 priority, have been a mixed bag in many cities.
Page 2
Now, this is not to say these recommendations, including #1, should to be abandoned. Not at all. We
still need to use many traditional methods to close the gap. Approval by council of GHAB's two
highest priorities is essential. But we need to do more. More creativity and out-of-the box thinking is
required. Out-of-the box thinking, not small thinking, is necessary. And council should support a more
creative solution and system-wide approach to resolving the problem by tasking GHAB to: develop a
comprehensive plan, in collaboration with stakeholders and public-private partnerships, using a
plethora of resources to build sustainable and affordable communities with housing as the
medium.
Such a plan would review and integrate, where feasible, recommendations from the 2008 plan, and the
2014 recommendations from GHAB. Prior work will not be wasted. It will contain multifamily
dwellings and building incentives. It also will consider new and emerging ways, like “small housing”
and community land trusts, for creating durable, energy-efficient, and cost-effective housing. For our
workers, like the rest of us, deserve the option to live in our city, and enjoy our quality of life. And only
a comprehensive approach will do that, including reducing the affordable housing deficit significantly,
while meeting the needs of workers, seniors and millennials, and making more effective use of
taxpayers' dollars.
With that as background, here are some resources GHAB and Council need to consider to craft a
comprehensive strategic plan, subject to Council's approval:
Design and Construction of Housing
+ For-Profit and Non-Profit Builders and Developers
+ Target population
+ Habitat for Humanity
+ The Pinnacle Group
+ City of Georgetown – Building Incentives
+ Georgetown Housing Authority
+ Georgetown Transportation Advisory Board
+ Georgetown Economic Department Corporation
+ Planning and Zoning Commission
+ Southwestern University
+ National Community Land Trust Network
+ Burlington Associates in Community Development or Civic Economics
Page 3
Finance
+ Foundation Grants for Low-Income Housing (Georgetown, MacArthur and Ford)
+ Community Development Block Grants (HUD)
+ Low-Income Housing Tax Credits (HUD)
+ Tax Increment Financing
+ General Obligation Bonds
+ Texas State Affordable Housing Corporation
+ Texas Department of Housing and Community Affairs
Legal
+ Georgetown City Attorney
+ UT Entrepreneurship and Community Development Clinic
Sustainability
+ Georgetown Chamber of Commerce
+ Georgetown Parks and Recreation
+ Georgetown Independent School District
+ Lone Star Circle of Care
+ Bluebonnet Trails Community Services
+ Williamson County Literacy Council
+ The Georgetown Project
+ The Caring Place
There are more resources, of course. Many more. So resources are not the problem. We are. It's we
who need to change our mind-set and make this a major priority. We can continue to drag our feet, and
resist building affordable housing that's affordable. But that won't get the job done. The deficit will
Page 4
still be there, only larger. Nor can we do this on the cheap. That won't work, either. It never has. It
never will. Creating affordable and diverse communities is costly. But such cost is vital to sustaining
Georgetown's quality of life, and ensuring it remains a “City of Excellence.”
Our workers deserve our best effort. Seniors and young people do, too. Only a comprehensive plan
will make for our best work. Only a comprehensive plan will resolve this housing problem and provide
them, and us, with sustainable and affordable communities. Only a comprehensive approach will help
us close the deficit, create more housing affordability, and make effective use of taxpayers' dollars. So
let's not delay. The window of opportunity is closing. Let's do the right thing.
--WD, Rev.,11/8/14
Page 5
Attachment #1
Policy Recommendations: Georgetown Planning Department
2008
1. Increase the amount of land zoned specifically for multi-family housing developments.
2. Identify revitalization areas for concentrated investment.
3. Treat non-profit and for-profit affordable housing developers as a special class of developers.
4. Waive all municipal impact fees and development fees for housing units affordable to 89% of
the area median income and below.
5. Capitalize a local Housing Trust Fund with a dedicated revenue stream.
6. Encourage the creation of a local Community Land Trust.
7. Prioritize the use of HUD CDBG funds for affordable housing.
8. Continue the Housing Diversity density incentives for new residential construction.
9. Use the City owned and operated electric utility to finance affordable housing.
10. Strengthen home buyer counseling and support services.
11. Strength the development skills of local non-profit housing developers.
12. Seek out County DCBG funds and State HOME funds in support of affordable housing
initiatives; subcontract with local non-profits to implement projects.
13. Adopt universal design standards.
14. Fund the proposed fixed-route transit system.
15. Treat affordable housing as a major policy issue in Georgetown.
Page 6
Attachment #2
Housing Element
2012
Recommendations
These recommendations offer a series of procedures which, when undertaken in whole or in part,
offer the potential to reduce the affordable housing deficit in the City of Georgetown. These
recommendations are ranked in order of their priority with a time frame for considering
implementation.
High Priority (One to five years)
1. Develop a program through which workforce housing developers can receive incentives to
provide new units.
2. Determine suitable multifamily zoning locations with sufficient services and land use
compatibility for an appropriate mix of housing variety within the city.
Medium High Priority (Five to seven years)
3. Continue the Housing Diversity density incentives for new residential construction.
4. Prioritize the use of HUD CDBG funds for affordable housing.
5. Strengthen home buyer counseling and support services.
Medium Priority (Seven to ten years)
6. Seek out County CDBG funds and State HOME funds in support of affordable housing
initiatives; subcontract with local nonprofits to implement projects.
7. Identify revitalization areas for concentrated investment.
City of Georgetown 2030 Comprehensive Plan
Chapter 4. - Plan Administration
City of Georgetown 2030 Comprehensive PlanCity of Georgetown 2030 Comprehensive Plan
3.92
Chapter 4. - Plan Administration
4.1
4. Plan Administration
OVERVIEW
While the City of Georgetown 2030 Comprehensive Plan is fundamentally a “policy docu-
ment,” the goals, policies, and actions identified in it will only become a reality by concerted,
consistent attention to implementation. This requires that the City administration, departments,
and present and future Planning and Zoning Commissions and City Councils actively and
continuously use the 2030 Comprehensive Plan as a key reference for all decisions and actions,
consistent with the strategic initiatives and policies contained in the Plan.
Texas law provides basic guidance to municipalities for developing and applying compre-
hensive plans. Chapter 219 of the Local Government Code grants powers to municipalities for
promoting sound development and the public health, safety and welfare, with broad local govern-
ment discretion to define the content and organization of a comprehensive plan. Further, Chapter
211.004 requires that zoning regulations (as well as rezonings) be adopted in accordance with a
comprehensive plan, while Chapter 212.010 requires that the approval of development plats also
must be consistent with an adopted comprehensive plan.
Consistent with this broad mandate of Texas state law for compliance with a comprehensive
plan, the City of Georgetown Charter was amended in 1986 with the addition of Section 1.08, to
articulate the City’s commitment to comprehensive planning, as excerpted below.
Purpose and Intent
…(to) establish comprehensive planning as a continuous and ongoing governmental function
in order to promote and strengthen the existing role, processes and powers of the City of
Georgetown to prepare, adopt and implement a comprehensive plan to guide, regulate, and
manage the future development within the corporate limits and extraterritorial jurisdiction of the
City to assure the most appropriate and beneficial use of land, water and other natural resources,
consistent with the public interest.
Contents
The comprehensive plan shall contain the council’s policies for growth, development and
beautification of the land within the corporate limits and the extraterritorial jurisdiction of the
City…The comprehensive plan should include but not be limited to:
A future land use element1.
A traffic circulation and public transit element2.
A wastewater, electric, solid waste, drainage and potable water element3.
A conservation and environmental resources element4.
A recreation and open space element5.
A housing element6.
A public services and facilities element, which shall include but not be limited to a 7.
capital improvement program
City of Georgetown 2030 Comprehensive PlanCity of Georgetown 2030 Comprehensive Plan
4.2
A public building and related facilities element8.
An economic element for commercial and industrial development and re-development9.
Health and human service element10.
Historic preservation element11.
Citizen participation element12.
Urban design element13.
Public safety element14.
Legal Effect
Upon adoption of a comprehensive plan or element or portion thereof by the City Council, all land
development regulations, including zoning and map, subdivision regulations, roadway plan, all
public improvements, public facilities, public utilities projects and all City regulatory actions relating
to land use, subdivision and development approval, should be consistent with the adopted plan or
element.
Following the incorporation of Section 1.08 into the City Charter in 1986, the City
commenced a planning process that led to the adoption of the award-winning Century Plan.
In the accompanying Policy Plan, the City established an elaborate protocol for plan adoption,
revision and amendment. Although the Policy Plan reflects positively on the City’s commitment
to faithfully carry out the Century Plan, some of its provisions lack clarity, as exemplified by the
absence of distinction between a “plan revision” and a “plan amendment”. Other provisions of the
Policy Plan placed too great a burden on staff, with an ambitious, but often ill-defined, implemen-
tation work program that included such requirements as “…an annual operating plan...(to) include
one and two year budgets and revenue projections, and one, two and five year project plans…(with)
multiple time horizons to ensure that the activities, programs and projects required by the ends, means,
and functional plan elements of the Century Plan are included with both the short and long range work
programs of the appropriate City Division.”
This chapter seeks to confirm the City’s commitment to plan implementation by replacing
the provisions for plan implementation contained in the Policy Plan with a simple, clear, and
streamlined protocol for the comprehensive plan adoption, compliance, amendments, monitoring,
and plan updating and revisions. First, the basic principles that determine plan compliance are
established.
Chapter 4. - Plan Administration
4.3
Principles of Comprehensive Plan Compliance
Principle 1: Zoning districts and related development standards in the Unifi ed
Development Code (UDC) shall be revised to maintain consistency with the 2030
Comprehensive Plan (Plan).
The various Plan elements identify both specific revisions to standards and ordinances, such
as the need for new design standards and guidelines and incentives for mixed-use and conservation
development. This principle does not suggest that, upon Plan adoption, the Zoning Map, UDC
and its various zoning districts must undergo a wholesale revision. The Future Land Use Map
is not intended to become or replace present zoning district designations on the Zoning Map.
Rather, the Future Land Use Map conceptually depicts relatively broad categories of land use,
and will serve as a guide for considering future rezonings. Because the Future Land Use Map
depicts development patterns 20+ years into the future, in some areas of the city and the ETJ,
land use designations are considerably greater in intensity than existing zoning and current land
use. Except where necessary to reserve certain parcels for future employment use, “correct” clearly
inappropriate prior zoning designations, or to otherwise make a legitimate policy determination
based on the public interest—the City of Georgetown will not initiate changes in present zoning
designations.
Principle 2: Requested rezonings shall be reviewed for consistency with the Plan and
shall not be approved if found contrary to the Plan.
Because the Future Land Use Map and its policies are considerably broader than present
zoning and development regulations, many development applications that are consistent with
present zoning will also be consistent with the Plan. In many cases, particularly those involving
rezoning, the Plan review process will provide additional flexibility in the development review
process. This will be particularly true for those areas designated for mixed-use, where underlying
zoning is more rigid or limited than that provided for in the Plan. However, in cases where a
proposed development is in clear conflict with the Plan, such approvals may not be granted unless
and until the Plan is amended. The City Council shall make such amendments upon findings of
fact, based on designated criteria.
Specifi c Provisions
The following is a recommended “checklist” for the development of a more specific protocol
for Plan compliance, to be established within three months of Plan adoption:
Identify specific task schedules, resources, and responsibilities to enact revisions to
the UDC and associated development standards to be in conformance with the 2030
Comprehensive Plan, consistent with the priorities and timeframes in the Future Land
Use Element.
Establish provisions for the review of all development applications, rezonings, and plats
to be consistent with the 2030 Comprehensive Plan.
City of Georgetown 2030 Comprehensive PlanCity of Georgetown 2030 Comprehensive Plan
4.4
PLAN ADOPTION, AMENDMENTS, MONITORING AND REVISION
Completion of Plan Elements
No later than six months after the completion of the first element, the Planning and Develop-
ment Department and/or the Planning and Zoning Commission shall recommend to the City
Council a set of criteria for the preparation and adoption of the remaining Plan elements, includ-
ing a prioritized sequence for completion.
Plan Adoption
The Plan shall be adopted by the City Council, either by individual Plan element, by groups
of elements, or as a whole. Per the comprehensive plan terms of the City Charter, a Revision to
the Plan shall require a super-majority of the City Council only if the revision occurs more than
once every five (5) years. A Revision is defined as the adoption or deletion of Plan Element(s).
An Amendment, as defined in the Charter, is a minor change to the comprehensive plan. For the
purposes of this Plan, as further defined in this chapter, an Amendment shall be any non-Element
change made by ordinance of the City Council.
Plan Adoption, Revision and Amendment shall follow the protocol below:
Transmittal to Planning and Zoning Commission: The Comprehensive Plan Steering
Committee, or staff of the appropriate City department, will transmit the entire Plan or
individual Plan elements, as they are completed, to the Planning and Zoning Commis-
sion or to the appropriate City-appointed board or commission for their review.
Recommendation to City Council: The Planning and Zoning Commission, or other
appropriate board or commission, shall hold a public hearing to recommend, by a
majority vote, the Plan or Plan element to the City Council for adoption, with specific
reference to any maps and other descriptive material intended as a part of the Plan. The
resolution must be recorded in the minutes of the Planning and Zoning Commission or
other board or commission.
Transmittal to City Council: The recommended Plan or Plan element must be transmit-
ted to the City Council.
Public Hearing: Before adopting the Plan or Plan element, the City Council must hold a
public hearing, advertised at least 30 days in advance.
Ordinance: City Council will adopt the Plan or Plan element by ordinance.
Plan Amendments
Plan amendments are periodic, substantive changes to the Plan and its associated goals, poli-
cies, and actions along with changes to the Future Land Use Map that are necessary to accommo-
date changed or unforeseen circumstances in a manner consistent with the public interest. While
the Plan provides for reasonable flexibility in interpretation, to have relevance over time, it should
not be permitted to be ignored, nor subject to continuous or arbitrary amendments to accommo-
date development applications, which are contrary to the Plan. Therefore, Plan amendments will
not be made more than once per calendar year, except for the rare circumstance where the City
Council feels it necessary to make a change with a super-majority vote. Plan amendments will be
Chapter 4. - Plan Administration
4.5
processed as part of the Annual Update and require only a majority vote of the City Council at
such update. Plan amendments shall be recommended by the Planning and Zoning Commission
or other appropriate board or commission, and adopted by City Council in the same manner
as per Plan adoption. However, the following deviations shall not be considered to require Plan
amendments. As such, these exceptions may be considered administratively and are not subject to
the public hearing process.
Emergency situations requiring immediate actions or development approvals necessary to
protect public health, safety or welfare, as determined by the City Council;
Small scale developments, involving minor deviations, interpretations or adjustments to
the Future Land Use Map, generally 10 acres or less; or
Corrections of errors, clarifications of intent, and updating of data that do not alter the
substance or intent of Plan policies or actions.
Specifi c Provisions
The following is a recommended checklist for the development of a more specific protocol for
Plan amendments, to be established within three months of Plan adoption:
Package proposed Plan amendments annually for review and recommendation by 1.
the Planning and Zoning Commission, and forward their recommendations to City
Council for their consideration following a public hearing.
Specific amendments may be considered more often than once a year when approved 2.
by a super-majority vote of all members of City Council.
Plan amendments may include text modifications to goals, strategies, and actions, 3.
or modifications to the Future Land Use Map that will accommodate rezonings or
development applications that are inconsistent with the adopted Plan.
Amendments should not be made without an analysis of immediate needs and consid-4.
eration of the long-terms effects. In considering amendments to the Plan, the City
should be guided by the following:
The need for the proposed change;
The effect of the proposed change on the need for City services and
facilities;
The implications, if any, that the amendment may have for other parts of the
Plan; and
A description and analysis of unforeseen circumstances or the emergence of
new information (such as a significant economic development opportunity
in Tier 2 or 3).
The City’s annual budget shall not be adopted as an element of the Plan. However, specific
annual budget priorities, as may be adopted separately by the City Council, should be consistent
with the 2030 Vision Statement and with existing policies in the adopted Plan or Plan elements.
City of Georgetown 2030 Comprehensive PlanCity of Georgetown 2030 Comprehensive Plan
4.6
Plan Monitoring and Updating
If a Plan is to have value and remain useful over time, it is important to develop ways of
monitoring progress on the many initiatives it calls for, to evaluate its effectiveness, and to keep
it current as new information becomes available and as circumstances change. For this reason,
comprehensive planning should be thought of as an ongoing process and not as a one-time event.
The Plan is not an end in itself, but rather the foundation that will guide ongoing, more detailed
planning. Without the evaluation and feedback loop, the Plan can soon become irrelevant. For
this reason, the Plan must be structured to respond to changing needs and conditions.
Due to the complexity of the many initiatives called for in the City of Georgetown 2030
Comprehensive Plan, as well as the accelerating rate of growth and change, provisions for Plan
monitoring and updating should be made in a timely manner, as follows:
City of Georgetown shall monitor and report upon Plan implementation progress
annually.
City of Georgetown shall conduct a thorough update, revision, and adoption of the Plan
every five (5) years.
Specifi c Provisions
The following is a checklist for the development of a more specific protocol for Plan monitor-
ing and updating, to be established within three months of the Plan adoption.
Annual Monitoring
At the anniversary of Plan adoption, the Planning and Development Department shall
submit to the Planning and Zoning Commission and City Council an annual report
indicating actions taken and progress made toward Plan implementation, along with
recommendations for Plan amendments due to altered circumstances or in response to
citizen requests, proposed rezonings, or plats.
Include policies to provide a process for monitoring implementation progress and adopt-
ing Plan amendments, including consideration of an ongoing role for the Comprehensive
Plan Steering Committee.
Develop benchmarks, as part of an overall Plan-monitoring program, to evaluate the
effectiveness of implementation efforts and adherence to the Plan.
Maintain dialogue with local citizens, municipalities, school districts, development inter-
ests, and other stakeholders and affected parties on a periodic, ongoing basis to monitor
the effectiveness and continued relevance of the Plan.
Before amendments are considered for adoption, citizens should be provided with effec-
tive ways for participating in the decision-making process, in addition to the required
public hearing.
Chapter 4. - Plan Administration
4.7
Updating / Plan Revision
Every five (5) years, the City of Georgetown shall initiate a process to revise and adopt an
updated Plan or one or more Plan elements. The revision process shall include the following:
Creation or continuation of the Comprehensive Plan Steering Committee, as appropri-
ate, depending on the Plan element or elements undergoing revision;
Updating of the Plan statistical data documenting growth trends, completed projects and
other factors experienced since the adoption of the current Plan;
Preparation of an Evaluation and Appraisal Report, documenting Plan effectiveness and
implementation efforts, identifying constraints upon implementation, and summarizing
trends and challenges that have emerged or changed in the period since Plan adoption;
Revision of goals, strategies, and actions to reflect changing circumstances, emerging
needs and opportunities, and expressed citizen priorities; and
Revisions to Future Land Use Map and other related maps.
City of Georgetown, Texas
SUBJECT:
Reminder to board members that are eligible for a second term about the reappointment process.--
Jennifer C. Bills, Housing Coordinator
ITEM SUMMARY:
The new term for all board and commissions start in March 2015. Applications for volunteers to
serve on the board will be accepted until January 9, 2015. In a recent review and amendment
process conducted by the Legal Department, the membership of the Housing Advisory Board was
decreased from nine (9) members to seven (7). Of the five board members with expiring terms,
three are eligible to serve an additional two year term.
The attached application can be filled out and submitted to the City Secretary's office at City Hall
(113 E. 8th Street), or you can fill out the online application at
https://records.georgetown.org/Forms/boards-commissions-application.
FINANCIAL IMPACT:
None.
SUBMITTED BY:
Jennifer Bills, Housing Coordinator
ATTACHMENTS:
Description Type
2015 Boards & Commissions Application Backup Material
City of Georgetown, Texas
SUBJECT:
Update from staff on recent conferences or articles related to housing trends--Jennifer C. Bills
ITEM SUMMARY:
October 15-17, I attended the annual American Planning Association (APA) State Conference. In
the past most of the session related to more standard planning practice information, but this year
there were a number of sessions focused on housing programs and policies. There were three
sessions I attended that provided insight into what other communities are doing for affordable and
multifamily housing.
From Apathy to Action: Love Where You Live
Speakers from the City of Plano spoke about success of the "Love Where You Live" program.
This program uses the power of volunteerism to create change in neighborhoods, restoring
neighborhood pride. You can learn more about their program on the Plano website:
http://www.plano.gov/652/Love-Where-You-Live
Stronger Communities through Housing Choice
This session focused on the changes to recent legislation and case law regarding the Fair Housing
Act and state administered housing programs. It specifically focused on the changes to the
Housing Tax Credit program that have come about from a Department of Housing and Urban
Development upon reviewing violations of the Fair Housing Act. These changes seek to ensure
that affordable housing developments are located more equally across jurisdictions. Cameron
Dorsey, the Deputy Executive Director of Multifamily Finance and Fair Housing when through
the Qualified Allocation Plan to explain how cities can assist tax credit developers submit
successful applications.
New Trends in Multifamily Development
This session focused primarily on trends in multifamily that are arising out of the demand for
rental housing from "Millennials." This population that is in their early to mid twenties are more
concerned with the available community amenities and activities than unit amenities. The
developers showed examples of recent developments that included clubhouse cafes with an in-
house barista, large open spaces for weekend events such as live music and roof-top patios.
Upcoming housing discussions
Austin’s Affordable Housing Needs and Impediments to Fair Housing Choice
When: Monday, December 1st, 6:00 – 7:30 pm
Where: Austin City Hall, 301 W. 2nd St., Austin, TX 78701
Come hear an overview of the market study, as well as preliminary information about the
impediments to fair housing in Austin. The presentation will be followed by Q&A.
Affordable Housing in Austin: Dig Deeper into the Data
When: Tuesday, December 2nd, 8 – 9:30 am
Where: LifeWorks, 835 N. Pleasant Valley Road, Austin, TX 78702
Come hear details from the market study, including how the data was gathered, what the data
means, and how individuals and organizations use the data. BBC Research & Consulting will
provide an overview of the report and the data and then we will open it up for questions, answers,
and conversations.
FINANCIAL IMPACT:
None.
SUBMITTED BY:
Jennifer Bills, Housing Coordinator
City of Georgetown, Texas
SUBJECT:
ITEM SUMMARY:
FINANCIAL IMPACT:
None.
SUBMITTED BY: