Texas Department of Housing and Community Affairs

Multifamily Finance Division

Notification of Submission of Affordable Housing Applications

Northwood Neighborhood Association 13017 Silver Creek Drive Austin, TX 78727

March 09, 2016

Re: Notification of Affordable Rental Housing Application(s) Proposed in Your Area

Dear Neighborhood Organization:

The Texas Department of Housing and Community Affairs (the "Department") has received one or more application( s) by the March 1, 2016, Application Deadline, for the Competitive Housing Tax Credit Program ("HTC"), for the development of affordable rental housing in the community you represent. A development summary for each application submitted in your area is included with this correspondence.

This notification and enclosed materials are provided in accordance with §2306.1114, Texas Government Code, to ensure that you are informed of proposed affordable housing activity in your area and so that you may provide your input on the proposed application(s). The Department greatly appreciates receiving views concerning the need for affordable housing within the local districts and how the proposed development(s) may address that need. Your comments will be carefully considered by the Department's Governing Board when making a decision to award HTC funds to a proposed application at its July 28, 2016 meeting.

The Department will conduct a series of public hearings around the state to collect public comment on all Competitive HTC applications. The public hearing schedule is published on the Department's website at http://www.tdhca.state.tx.us/multifamily/announcements.htm and a copy of the public hearing schedule is included with this notification.

The Department's mission is to administer all of its assigned programs efficiently, transparently, and lawfully and to invest its resources strategically to develop high quality affordable housing which allows Texas communities to thrive. The Housing Tax Credit Program is just part of a wide variety of housing finance programs administered by the Department. Through its rental housing finance programs, the Department encourages new construction, reconstruction or rehabilitation of high quality multifamily rental housing, primarily through partnerships between public-private developers and owners. These deveiopments benefit Texans in your district by providing qualified individuals and families with safe, decent and quality affordable housing.

Please mail any comments you may have to TDHCA, Multifamily Finance Division, Attention: Sharon Gamble, Competitive Housing Tax Credit Administrator, P.O. Box 13941, Austin, Texas 78711-3941 or submit by facsimile to (512) 475-0764. If you have any questions or need additional information, please contact Sharon, at (512) 936-

7834 or by email at sharon.gamble@tdhca.state.tx.us.

Sincerely,

Marni Holloway Director, Multifamily Finance

Relevant Development Information as Presented by the Applicant:

Programs Applied For:

� Housing Tax Credits-Competitive 9% (HTC)

D Multifamily Direct Loan

D Housing Tax Credits-Non Competitive 4% (HTC)

0 TDHCA Tax Exempt Bond ,

Development Information:

Development Number: 16161

Development Name: Elysium Park

Development Address: 3300 Oak Creek Dr

Development City: Austin Development Zip: 78727 Region: 7

Regional Allocation: Urban

HTC Set Aside: D Nonprofit 0 USDA D At-Risk

Construction Type: New Construction

Building/Unit Configuration:

� 4 units or more D Duplex D Fourplex

D Townhome D Single Room Occupancy D Single Family Construction

Total Restricted Units: 70 Total Market Rate Units: 10 Total Units:

Applicant Information:

Owner Contact: Lisa Stephens Owner City: Austin

Owner Address: 421 W 3rd St, #1504 Owner State: TX

Owner Phone: Owner Zip: 78701

Owner Email: lisa@saigebrook.com

80

This Development may include other public benefits such as financing, rental subsidies and tenant supportive services.

TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS

221 East 11th Street, Austin, TX 78701 PO Box 13941, Austin, TX 78711

Main Number: 512-475-3800 Toll Free: 1-800-525-0657

Email: info@tdhca.state.tx.u Web: www.tdhca.state.tx.u�

Equal Opportunity Employer/Program. Auxiliary aids and services are available upon request to individuals with disabilities. Relay Texas: 800-735-2989 (TTY) and 711 (Voice).

' Texas Department of Housing and Community Affairs

Multifamily Finance Division P.O. Box 13941, Austin, Texas 78711-3941 Phone: (512) 936-7834 Fax: (512) 475-0764

Announcement of the Public Hearing Schedule for Comment _on.,the 2016 Competitive Housing Tax Credit Applications

The mission of the Texas Department of Housing and Community Affairs ("the Department'') is to administer its assigned programs efficiently, transparently, and lawfully and to invest its resources strategically and develop high quality affordable housing which allows Texas communities to thrive. Tbrough our rental housing programs, the Department encourages the new construction or rehabilitation of high-quality multifamily housing, primarily through private developers. These developments benefit Texans by providing qualified families with safe, affordable, quality housing.

The following six public hearings are provided to gather public comment on the 2016 Competitive Housing Tax Credit Applications. The schedule of these meetings is provided below:

Lubbock Wednesday, April 6 at 6:00 p.m. Groves Library Community Room 5520 19th Street Lubbock, TX 79407 http://library.ei.lubbock.tx.us/

Dallas Wednesday, April 13 at 6:00 p.m. J. Erik Johnson Central Library Auditorium 1515 Young Street Dallas, TX 75201 htij?: I I dallaslibmy.org/

Tyler Tuesday, April 5 at 6:00 p.m. Tyler Rose Garden Center 420 Rose Park Drive Tyler, Texas 75702

Houston

Thursday, April 7 at 6:00 p.m. City Hall Annex Chamber, Public Level, 900 Bagby Houston, TX 77002 \\T\.Vw.houstont.x.gov

Austin Tuesday, April 12 at 6:00 p.m. William B. Travis Building 1-104 1701 N. Congress Austin, TX 78701 http:l /W\Vw.tcfp.tex:as.gov/maps/

http://\\T\.VW.tylertexasonline.com/ tyler-texas-rose-garden.htm

Harlingen Monday, April 11 at 6:00 p.m. Harlingen Cultural Art Center 576 76 Drive (behind the public library) Harlingen, TX 78550 http: //www.myharlingen.us/

El Paso Monday, April 4 at 4:30-6:30 Main Library Maud Sullivan Gallery Room 501 N. Oregon St. El Paso, TX 79901 http: //home.elpasotexas.gov I

The application logs for all 2016 Competitive Housing Tax Credit Applications are published on the Department's website at the following link: http://W\vW.tdhca.state.tx.us/multifamily /housing-tax-credits-9pct/index . htm

Written comments are also encouraged. All public comment must be received, by the Department, by June 12, 2016, for the Competitive Housing Tax Credit Program. Such comments should be addressed to:

Texas Department of Housing and Community Affairs Multifamily Finance Division P.O. Box 13941 Auttin, TX 78711-3941 Facsimile: (512) �75-0764 Email: htc.public-com ment!altdhca.state.tx.us

For additional information you may contact the Multifamily Division at (512) 936-7834 or visit the program's web site at btt;p://www.tdbca.state.tx.us/multifamilv/announcement::.btm. Individuals who require auxiliary aids or services for these meetings should contact Gina Esteves, ADA Responsible Employee, at (512) 475-3943 or Relay Texas at (800) 735-2989 at least two days before the meeting so that appropriate arrangements can be made. Individuals who require a language interpreter for the hearing should contact Gina Esteves at. (512) 47 5-3943 at'least three days prior to the hearing date. Personas que hablan espaiiol y requieren un interprete, favor de llamar a Gina Esteves al siguiente nilmero (512) 475-3943 por lo menos tres dias antes de la junta para hacer los preparativos apropiados.

TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS

lj�QJ!kil1X!j}i�;�301fi1i'!:fil'i@'..��-� The Texas Department of Housing and Community Affairs' ("TDHCA") Housing Tax Credit ("HTC") program is one of the primary means of directing private capital toward the development and preservation of affordable rental housing for low-income households. The HTC program is designed to: o Provide a source of equity financing for the development of affordable housing; o Maximize the number of affordable units added to the state's housing supply; o Ensure that the state's affordable housing supply is well maintained and operated, serving as a credit to the communities in which affordable housing

is constructed and operated; and o Prevent losses in the state's supply of affordable housing.

IHJIOW i-!itOJUSDINIG YAX CIRIEDl'l!'S WOR�

c Tax credits are awarded, using a competitive process detailed in statute and rule, to eligible participants to offset a portion of their federal tax liability in exchange for the production or preservation of affordable rental housing.

o The value associated with the tax credits allows residences in HTC developments to be leased to qualified households at below market rate rents.

• There are two types of HTCs: 9% HTC and 4% HTC.

9% HTC (COMPIETD1WIE)

o The 9% HTC program is highly competitive. o The amount of HTC available in each region is determined through the

Regional Allocation Formula ("RAF"). • There are set-asides for "at risk" and USDA assisted developments. 0 At least 10% of the allocation must be used for qualified non-profits. • Applications are scored and ranked within their region or set-aside. • Scoring criteria range from financial feasibility, different indicators of

local support, size and quality of units, amenities services to be provided to the tenants, and more.

• Scoring reflects requirements found in state law and program rules; the program ·rules are known ·as the Qualified Action Plan ("QAP").

4% HTC (NON-COMPETITIVE)

0 4% HTCs are awarded to developments that use tax-exempt bonds as a component of their financing.

• Applications are accepted throughout the year. • 4% HTCs are available statewide; they are not subject to regional

allocation.

Fl\llNIDING SOURCE

U.S. Treasury Department via the Internal Revenue Code.

ELIGIBLE ACTIVITIES

The development of affordable rental properties or the rehabilitation of existing properties that maintain affordable rents for an extended period of time.

BE!i'l!IEFDCBARI ES

Tenants earning up to 60% of the area median family income ("AMFI"), which varies by area. For example, to qualify for a reduced rent in an HTC­supported property, the annual income of a Dallas family of four may not exceed $42;540, while the annual income for the same household Jiving in Brownsville may not exceed $29, 160. (These limits are subject to change as HUD releases new income limits and are available under the Featured Items drop menu on TDHCA's home page at www.tdhca.state.tx.us).

ELIGIBLE A.PPLBC'ANTS

Private for-pr.ofit and nonprofit developers.

Jl"UJIBLDC DNl!"UT

• Public comment is taken at all TDHCA board meetings and is accepted during the application review process.

D Public input for purposes of scoring is subject to a .number of requirements, including deadlines, all specified in detail in the OAP.

• Regional public hearings are held to take public comment on 9% HTC applications (Applications for 4% HTC have hearings associated with their bond funding; no separate hearing is held for the 4% HTCs.)

0 Hearing schedules, TDHCA board meeting announcements, and other informational notices are posted Ofl TDHCA's Website.

AWARl!llS

• Final funding decisions on all HTC applications are made by TDHCA's Governing Board.

• The application "cycle" for 9% .applications begins at the beginning of the· year. Throughout the cycle different issues relating ·to the developments that are competing will be considered by the TDHCA board, such as appeals of terminations, scoring notices, requests for waivers, and challenges.

- 9% HTC applications are recommended for final approval in July - 4% HTC applications are considered for approval throughout the

year

COMPLIANCE

• TDHCA monitors and physically inspects all properties which have received tax credits and/or multifamily funds from any TDHCA program.

• The Department follows very specific requirements for monitoring, inspecting, and reporting.

• Jn Texas, property owners who don't keep their promises during the building pmcess, who let their properties fall into disrepair, or who do not follow the program rules may be subject to certain actions designed to encourage compliance. These actions, if not promptly addressed, may lead to other more serious actions such as the assessment of administrative penalties cir, in extreme instances, debarment from the HTC program.

• TDHCA provides oversight authority for health, safety, and program compliance of funded properties for up to 40 years.·

MORE lNIFORMATRON

More HTC information can be found by visiting TDHCA's site at www.tdhca.state.tx.us, hover.ing over the Programs tab, selecting Multifamily Programs, and clicking the Apply for Funds option, or by calling 512-475-3340.

CONSUMER ASSISTANCE

Individuals may search for TDHCA-supported affordable rental properties in their area by visiting TDHCA at www.tdhca.state.tx.us and clicking on

· the "Help for Texans" tab or by calling TDHCA's Housing Resource Center toll free at 800-525-0657.

. TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS � , . Street Address: 221 East 11th Street, Austin, TX 78701 �ai!ing Address: PO Box 13941, Austin, TX 78711 · . 1.!J"' . �"! _ __ ____ _ Main llil.'!!�. 512.--1I5-3JlQQ_T.9ll£ree: 1-a9.0.:.QZ.5_--0§�7..Email.:.Jnto@tdbcastate..bc..us .. Web:-www.tdhca.state.tx . .us---- ---- -���- .. �·::.::.:.:�.:� ....

�,.----- --- -· - · --·-· - . --··--··- ·· -------·---· ----------TDHCA is an Equai Housi;g-

Opporlunity entity. All TDHCA programs are administered on a fair and equal basis regardless of race, color, national origin, religion, sex, disability, or familial status.

Reasonable accommcxlatioos will be made for persons with ciisabilities anci language assistance will be made available for persons with limited English proficiency. 02112115

TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS

The Texas Department of Housing and Community Affairs' ("TDHCA") Texas HOME Investment Partnerships' Multifamily (Rental Housing) Development ("HOME MFD") Program is a key source of funding for the new construction and rehabilitation of affordable rental housing for low income.l:Jouseholds. The Program is designed to expand the availability of safe; decent, and affordable rental housing in rural communities.

IHlti:llW 'll'IHIIE !rliOIMIE l\lilFl!ll WOR!l{S

• Elig,ible applic ants receive funding in the form of a loan to assist with the new construction or rehabilitation of a rental development.

• A portion of the units must be leased to income eligible residents at restricted rents; in seine instances all units must be restricted to income eligible households and must be rent restricted ..

IFQJJNIO>DNG SCllQJllRCIE

TDHCA's HOME Investment Partnerships Program ("HOME"), which is funded by the US Department of Housing and ·urban Development ("HUD").

IOISTIR!DIBl!JTIOH>li IO>IF IFUll!DS

• By state law, 95% of TDHCA's total federal annual HOME Program funding allocation is reserved for comr:nunities that do not receive HOME funding directly from the federal government; the remaining 5% must assist Persons with Disabilities ("PWD") anywhere in the state.

• With the exception of PWD funding, all HOME funds are initially available by region in accordance with the Regional Allocation Formula ("RAF").

IEUGBSLIE ACT!'VDYHIES

• The acquisition, new construction, or rehabilitation of rental properties that maintain affordable rents for an extended period of time.

• Properties seeking funding for Persons with Disabilities ("PWD") must follow integrated housing rules; developments restricted only to PWDs are not eligible for funding.

BIENIEIFICIAIRBIES

Households earning up to 80% area median family income ("AMF!") as defined by HUD, which varies by area. For example, to qualify for a reduced rent in a HOME MFD supported property, the annual inco_me of a Dallas family of four may not exceed $56,080, while the annual income for the same household living ir;i Brownsville may not exceed $37,680. (These limits are subject to change as HUD revises the income limits and are available under the Featured Items drop menu on TDHCA 's home page at www.tdhca.state.tx.us).

IEll.BGIBB..IE AIPIPll.iCANTS

• Units of local government ·0 Nonprofit organizations

• Public Housing Agencies • For-profit entities • Community Housing Development Organizations ("CHDOs")

IP'l\JBILBC DNIPIUT

• Public hearings are held to gather input on the Notice of Funding Availability, program rules, etc.

• Public comment is taken at all board meetings. • Hearing schedules, TDHCA board meeting announcements, and

other informational notices are posted on TDHCA's Website at www.tdhca.state.tx.us.

AWARDS

• Multifamily HOME funds are awarded to eligible applicants first through the Regional Allocation Formula ("RAF") as funds may be available, then statewide on a first-come, first-served basis.

• The majority of HOME MFD applications are layered with Housing Tax Credits ("HTCs"); HOME MFD funding for these applications are contingent upon an HTC award.

• Final funding decisions on all HOME MFD applications are made by TDHCA's Governing Board.

CIOJM!l"LIANCIE

0 TDHCA monitors and inspects all properties, which have received multifamily funds.

• The Department follows very specific requirements for monitoring, inspecting, and re porting.

·

• In Texas, property owners who don't keep their promises during the building process� let their properties fall into disrepair, cir who do not follow the rules may be subject to certain actions designed to encourage compliance.

0• TDHCA provides oversight authority for health, safety, and program compliance of funded properties for up to 40 years.

C()NSlJJMER A.SSBSTAINICE

Individuals may search for TDHCA-supported affordable rental properties in their area by visiting the Help for Texans section of the TDHCA website or by calling the TDHCA Housing Resource Center toll free at 800-525-0657.

MORIE INFORMATION

More.HOME MFD Program information can be found by visiting TDHCA's site at www.tdhca.state.t x.us, hovering over the Programs tab, selecting Multifamily Programs, and clicking the Multifamily HOME Program option, or by calling 512-475-3.340:

·

TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS � Street Address: 221East11th Street, Austin, TX 78701 Mailing Address: PO Box 13941, Austin, TX 78711 J...!I "'-.:� Main Number: 512-475-3800 Toll Free: 1-800-525-0657'" Email: info@tdhca.state.tx.us Web: www.tdhca.state.tx.us b.'¥iil'ili1i�·

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-=;:·--=-=-­equal basis regardless of race, color, national origin, religion, sex, disability, or familial status.

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