From
Katherine Garcia-Thomson
Title
Resolution in support of the Lennox House application for Tax Credits
Presenter
William A. Hills, Director, Housing and Neighborhood Services
Recommended Action
Approve
Analysis
The Lennox House was opened by National Church Residences (NCR) in the early nineties after the extensive renovation of the former Lennox Hotel. It is now 40 apartments designated for senior residents. The property has had minor renovations over the years; however, NCR in conjunction with the City of Grand Prairie revitalization efforts is planning a major renovation to the facility. This renovation will be partially supported by the use of competitive 9% Low Income Housing Tax Credits (LIHTC).
The LIHTC program requires the support of the local political subdivision in the form of a resolution. This resolution can be of general support; however, staff recommends the adoption of a resolution providing a more comprehensive level of support. NCR has agreed to work with the Downtown Revitalization team and has agreed to insure the renovations, meet the Downtown Revitalization Plan. Therefore, staff recommends agreeing to a minimum of $500.00 in funding through in-kind considerations contingent on NCR receiving the LIHTC applied for. Additionally, we recommend the acknowledgement of their contribution to the Downtown Master Plan for the purposes of the 2020 LIHTC application round, as they represent the only residential facility located within the Downtown Master Plan.
Financial Consideration
None
Body
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS IN SUPPORT OF THE SUBMISSION OF AN APPLICATION TO THE 2020 COMPETITIVE HOUSING TAX CREDIT (HTC) PROGRAM THROUGH THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS (TDHCA) BY LENNOX HOUSE SENIOR HOUSING LIMITED PARTNERSHIP, FOR THE REHABILITATION OF LENNOX HOUSE APARTMENTS; AND PROVIDING AN EFFECTIVE DATE
WHEREAS, Lennox House Senior Housing Limited Partnership (“A...
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