City of Lewisville, TX - File #: 24-3308

• File #: 24-3308
• Version: 1
• Type: Agenda Item
• Status: Consent Agenda
• File created: 2/5/2024
• In control: City Council
• On agenda: 2/19/2024
• Title: Approval of a Resolution of the City Council of the City of Lewisville, Texas, Supporting an Application for Competitive (9%) Housing Tax Credits from the Texas Department of Housing And Community Affairs for a Proposed Mixed-Income Senior Living Development by Generation Housing Partners, or An Affiliate, to be Located at the Southeast Corner of W. Valley Ridge Blvd. and N. Garden Ridge Blvd.; Committing to a Development Incentive; and Providing an Effective Date.

title

Approval of a Resolution of the City Council of the City of Lewisville, Texas, Supporting an Application for Competitive (9%) Housing Tax Credits from the Texas Department of Housing And Community Affairs for a Proposed Mixed-Income Senior Living Development by Generation Housing Partners, or An Affiliate, to be Located at the Southeast Corner of W. Valley Ridge Blvd. and N. Garden Ridge Blvd.; Committing to a Development Incentive; and Providing an Effective Date.

request

ADMINISTRATIVE COMMENTS:

Generation Housing Partners (GHP) is requesting City support of its application to the Texas Department of Housing and Community Affairs for Competitive 9% Housing Tax Credits. These tax credits provide the financial mechanism that would allow for future construction of a mixed-income senior living development at the southeast corner of W. Valley Ridge Blvd. and N. Garden Ridge Blvd. This resolution only provides the City’s support of the tax credit application, which increases GHP’s likelihood of receiving the tax credit award. A separate zoning request must be submitted for the property and will be considered by the City Council at a future date if the tax credits are awarded.

RECOMMENDATION:

That the City Council approve the resolution of support as set forth in the caption above.