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Council supports Stone Creek apartment tax-credit application to extend affordability and fund renovations
Summary
Lewisville city staff recommended—and council approved unanimously—a resolution of no objection to a non-competitive 4% housing tax-credit application that staff said would fund extensive renovations to Stone Creek Apartments and reset the affordability period for the complex.
At a public hearing the City Council unanimously approved a resolution expressing no objection to an application for non-competitive 4% housing tax credits for a proposed renovation of the Stone Creek Apartments, a multifamily property that the staff presentation said is managed as a Denton County Housing Authority project.
Staff explained that the resolution is limited to a statement of the city’s support for the tax-credit application to the Texas Department of Housing and Community Affairs; it does not commit city funds. Staff described proposed renovations that would include interior upgrades (cabinets, countertops, new…
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