Wichita County authorizes judge to sign resolution allowing tax-exempt bonds for Sun Valley Apartments rehabilitation

County commissioners on Tuesday authorized the county judge to sign a resolution allowing Nortex Housing Finance Corporation to pursue tax-exempt bond financing to acquire and rehabilitate the Sun Valley Apartments at 1315 Central Freeway East in Wichita Falls.

The action followed a public hearing required by a recent change in state law; the court voted 5-0 on a motion by Commissioner Watts, seconded by Commissioner Beauchamp, to permit the housing finance authority to proceed. County officials repeatedly said the action does not create county liability or additional county debt.

Why it matters: The project aims to renovate a 133-unit multifamily complex that county and housing officials described as in need of extensive repairs. Nortex told the court the work would include new kitchens, bathrooms, grounds and public areas and that the financing package mixes bonds, private loans and housing tax credits. County officials noted that if the housing finance corporation owns the land, the property would be tax-exempt while under that ownership.

At the hearing, Dave Clark, executive director of the Nortex Housing Finance Corporation, described the proposal as an acquisition and rehabilitation project. Clark said the project would make the complex “completely rehabbed” and estimated overall costs at roughly $22 million; he also described financing elements including bond issuance and housing tax credits. Clark told the court the corporation’s ownership of land is a mechanism used to reduce operating costs and support long-term affordability.

County discussion touched on public-safety and tax-roll implications. One commissioner noted the complex has had policing problems in the past and said new management and rehabilitation could reduce crime and neighborhood blight. Another commissioner said taking the property off the tax roll is a concern because it reduces taxable property for the county; commissioners responded that such financing tools are common to make affordable housing projects feasible.

County staff and Nortex clarified that the city has taken a different, separate role on a related pilot tax agreement and that the city is not a co-developer of this project. A member of the public asked whether the Overland Properties pilot with the city involved the same property; Nortex said the city’s pilot agreement and the county’s permitting under the state program are distinct processes.

The court opened the public hearing at the start of the item and closed it before taking action; County Judge and commissioners emphasized the county will not incur liability from the bond issuance. The motion authorizing the county judge to sign the resolution passed 5-0.

Looking ahead: Nortex and the developer will move forward with financing and rehabilitation steps; commissioners noted the county will monitor impacts on tax receipts and public-safety outcomes.