Page 4 - Arlington - LIHTC Review Procedures 2017 - Gibbins Rd. 7.12.17

EXECUTIVE SUMMARY
The enclosed response to the City of Arlington’s Low Income Housing Tax Credit Review Process is submiAed by Overland Property Group (“OPG”). We are requesKng a formal resoluKon of support for the 2017 tax credit applicaKon, Residence at Arbor Grove, a seniors only development located at 1118 N. Gibbins Rd. AddiKonally, we are requesKng a resoluKon confirming that this development contributes more than any other to the concerted revitalizaKon efforts of the city.
Resolu'on of Support
The resoluKon of support for this development will allow the development to receive seventeen (17) points in its applicaKon for funding from the Texas Department of Housing and Community Affairs (TDHCA). Without this resoluKon, the proposed applicaKon will not be compeKKve and will not proceed.
Addi'onal Request
As part of the tax credit scoring process, developments are incenKvized to be located in either high opportunity areas or areas that are in need of revitalizaKon. The Residence at Arbor Grove is located in an area that has been idenKfied by the city, through its comprehensive planning process, as being in need of revitalizaKon efforts.
To receive the maximum allowable points for a development in a revitalizaKon area, a city must choose one that it feels most contributes to the revitalizaKon efforts of the city. We believe that The Residence at Arbor Grove is that development, and request formal acknowledgment of such in the form of a resoluKon.
Other Considera'ons
Currently there are a total of ten tax credit pre applicaKons located in Arlington. How the City chooses to allocate resoluKons of support and revitalizaKon will ulKmately dictate which applicaKons will be compeKKve. We urge the City to review these applicaKons with regard to how they meet exiKng planning goals, the needs of the populaKon of the City. These tools are given to local governments by TDHCA specifically so that they can decide what works best for their community.
If the City does not idenKfy a hierarchy within these ten deals, the scoring outlined by the State agency will dictate where these developments are built– regardless of your need. For example an un- zoned site may outscore appropriately zoned sites. From our discussions with staff and individual members, we understand that this is indeed a concern. We believe that for developments that do not meet the guidelines outlined by the City with respect to receiving support should receive no ac'on, as even developments that receive resoluKons of “No ObjecKon” may sKll outscore more desirable ones.