Page 5 - Arlington - LIHTC Review Procedures 2017 - Gibbins Rd. 7.12.17

EXECUTIVE SUMMARY
TDHCA Restriction on Awards
Per the Rules, TDHCA will not award more than 1 application within a 2-mile radius in Tarrant County. There are several proposed applications within 2 miles of City Hall, but only 1 of those applications can be awarded.
Awarding full revitalization points to The Residence at Arbor Grove would provide a score of 126, which would be competitive against applications in the rest of the region. However a score of 126 would not outscore a site on Abram St that has a resolution of support or a resolution of no objection; therefore, we urge staff and council to decide where and how to best provide housing in Arlington.
Conclusion
In order for this project to be compeKKve, OPG is requesKng both a ResoluKon of Support and a resoluKon idenKfying The Residence at Arbor Grove as the one that most contributes to the revitalizaKon efforts of the city.
OPG has worked with City staff for months to find a suitable site for a much needed senior housing development. In fact, we believe that we were the first developer to contact staff back in October.
OPG first found a high opportunity site on Abram St called The Residence at Channing Park and presented it to staff, city council members, and the neighborhood. Because of concerns about rezoning and general support and because OPG strives to be a good development partner, OPG found an alternative site on Gibbins Road. That Gibbins Road site called The Residence at Arbor Grove has received a more favorable response based on the need in the area.
While the Residence at Arbor Grove might be a better fit for the community, a resolution of support or no objection for competing applications on Abram St would mean that a development that truly meets the city's revitalization efforts will not be competitive.
To be clear, a No Objection resolution for any Abram St development means that it would be awarded over a site within the city's revitalization areas.
It should be noted that any development awarded tax credits will have to prove up zoning by Commitment, which will be at the beginning of September. Any problems related to rezoning will result in the loss of credits for the development and the next deal being awarded. While it is likely that the next development would be an Arlington deal, there are no guarantees. Additionally, if the next deal requires zoning and encounters issues, because of federal timing issues, the city runs the risk of receiving no credits at the end of the day.
In summary, if City staff has concerns about rezoning or general neighborhood support for any of the HTC applications, we urge staff and council to take no action of such applications so that applications with unanimous support, that further the city's planning efforts be prioritized.