Houston staff recommend 14 multifamily tax-credit projects; waivers and district limits part of package

Houston housing staff presented recommendations Feb. 4 for which multifamily projects the city should endorse for 9% low-income housing tax credit points, telling a special Housing and Affordability call that 14 of 22 applications are being recommended and that several administrative waivers will be requested to make some projects eligible for TDHCA scoring.

The committee chair (meeting chair) said the meeting represented an early, strategic step: "this is the Super Bowl of tax credits," and city staff described the recommendations as the first stage in a longer process to secure private equity for affordable housing construction.

City Housing and Community Development Department Director Mike Nichols told the committee the agenda was about the long view of affordable housing and emphasized the target population for many projects: people at or below 50% of area median income. Derek Sellers, a department presenter, clarified that "these are not funded by the city. We are just a player in the process," explaining that the Treasury allocates credits to states, and TDHCA awards points under a Qualified Allocation Plan.

Why it matters: TDHCA awards up to 17 local points for municipal resolutions of support that can determine whether a competitive 9% tax-credit deal receives funding. City staff said municipal points are a significant part of the scoring mix and can be decisive for projects that are otherwise competitive.

Key items from staff presentation

- Applications and recommendations: staff received 22 applications and recommended 14 projects to receive the city's resolution of support. Staff said the recommended package includes both projects inside Houston and projects in the…