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Developer seeks city support for LIHTC rehabilitation of Embassy Apartments; application scores 78/100

2124161 ยท January 16, 2025

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Summary

Oceda Industries asked the council to consider a resolution of support for a Low-Income Housing Tax Credit rehab of the Embassy Apartments (1415 W. Airport Freeway). The project scored 78 of 100 under the state's scoring criteria and staff will place the resolution on the Feb. 6 council agenda.

The City of Irving received an application from Oceda Industries seeking Low-Income Housing Tax Credits (LIHTC) to rehabilitate the Embassy Apartments at 1415 W. Airport Freeway. At the work session staff summarized the application and the city's role: a local resolution of support (which yields points in the state competition), a request for a small development commitment and the required threshold review.

Project details: The tax-credit application describes a rehabilitation (not demolition) of a nine-building complex originally built in 1964. The developer initially included a proposal to increase the unit count to 117 with demolition of the front-facing building, but said after a recent predevelopment meeting it will now seek to retain and rehabilitate the existing total of 111 units. Planned upgrades include high-efficiency appliances, interior and exterior improvements, additional laundry hookups in most units, new amenities and on-site case-management services providing connections to financial-literacy and other community resources.

Scoring and city role: City staff preliminarily scored the application 78 out of a possible 100 points under the Texas Department of Housing and Community Affairs (TDHCA) framework. Staff said the project meets land-use and affordability thresholds but received no community-support points in the initial submission; the applicant will need letters of support to submit with the state application. The developer also requested a $500 development-commitment credit from the city (customarily fulfilled by permit-fee reductions), which would add one point to the state application.

Next steps: Staff will include the full application and a draft resolution for council consideration at the Feb. 6 regular meeting. TDHCA's deadline is later in February; awards are announced in June and final scoring in July.

Ending: Councilmembers said the proposal is the type of rehab project the city should consider supporting, and asked staff to ensure the application materials demonstrate substantial per-unit rehabilitation work as required by the state.