Res 2022-166R/providing no objection to the submission of an application for Low Income Housing Tax Credits (LIHTC) to the Texas Department of Housing and Community Affairs

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a. The project will provide a minimum of 33 units (10% of all units) affordable to households at or below 30% AMI for the duration of the tax exemption; (Note From Staff: the application came in prior to the Workforce Housing Policy update in March, 2022. The applicant is meeting the previous criteria noted here in (a), however is not meeting the new criteria of 25% of all units below 30%AMI) b. The project will provide a minimum of 4 units(10%of all units)that are ADA accessible and affordable to households at or below 30%AMI; C. The project shall include these criteria in the Texas Department of Housing and Community Affairs Land Use Restriction Agreement; d. The project shall partner with the Capital Area Housing Finance Corporation (CAHFC)which addresses housing needs in Central Texas. 6. The Applicant has demonstrated that the Project complies with the City of San Marcos Affordable Housing Policy pertaining to consideration of Low Income Housing Tax Credit projects by meeting at least five of the eight necessary criteria as follows: a. The project meets the necessary criteria to be considered for a tax exemption; (Note From Staff: see above note) b. The Project will address a housing need by providing 330 units for those making at or below 60% of the area median income. The project will provide 33 units for those making 30%or less of area median income and 297 units for those making 60% or less of the area median income; C. The Project is currently located in the ETJ but is proposed to develop under a non-Legacy zoning district; d. The Project is not located within one quarter mile walking distance of an existing bus stop on a current transit route, however CARTS is proposing a stop at the intersection of Centerpoint Road and Centerpoint Court which will be across the street from the Project; and e. The Project will incorporate wraparound services that provide flexible voluntary social, economic, or education benefits to the residents. Incorporated services will utilize local support services and resources, meet the needs of the local community, and exceed the minimum Texas Department of Housing & Community Affairs requirements for amenities. The Project will incorporate the listed common amenities and resident support services: i. Furnished fitness center, children's playscape, horshoe pit, swimming pool,gazebo,covered pavilion,or pergola with sitting area,community laundry room, BBQ grill and picnic table, business center with workstations, furnished community