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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 Veteran Focused Development By Titanium Housing Partners, Through its Proposed Entity, TX Fox 2026, Ltd., To Be Located at The Southwest Corner of Fox Avenue and Edmonds Lane, Lewisville, Texas; Committing To a Development Incentive; and Providing an Effective Date.
request
ADMINISTRATIVE COMMENTS:
Titanium Housing Partners, through its proposed entity, TX Fox 2026, Ltd., is requesting City support of their 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 veteran-focused development at the Southwest corner of Fox Avenue and Edmonds Lane, Lewisville, Texas. This resolution only provides the City’s support of their tax credit application, which increases Titanium Housing Partners’ likelihood of receiving the tax credit. A separate zoning request must be submitted for the property and will be considered by 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.