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Council tables vote on Waterford Spencer Oaks tax‑credit request, wants Denton Housing Authority consulted
Summary
Developers asked the council for a 'no objection' resolution for a 4% tax‑credit rehabilitation of 208 units at Waterford at Spencer Oaks. After public comment and debate over local control and tax‑exempt bond structure, council voted 4‑2 to table and seek a conversation with the Denton Housing Authority before proceeding.
Staff described a 4% Low‑Income Housing Tax Credit application for Waterford at Spencer Oaks — an existing 208‑unit complex — that aims to fund extensive rehabilitation, with developer estimates of about $80,000 per unit for renovations and a 50% property‑tax exemption partnership. Jesse Kent, director of community…
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