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Denton council backs staff direction to tighten housing tax credit support, prioritizing deep affordability
Summary
City staff proposed replacing an "a la carte" review of housing tax credit applicants with an annual priorities-setting work session, pre-application meetings, neighborhood notice, and a scoring matrix that favors 30% and 50% AMI units; council directed staff to proceed and requested regular ISRs to monitor effects on applications.
City staff on Tuesday outlined changes to Denton—s policy for issuing letters of support for projects seeking federal Low-Income Housing Tax Credits, urging the council to emphasize deep affordability and to make the city—s review process more selective.
"Every year, the federal government allocates billions of dollars to the states to help develop affordable housing," Jesse Kent, director of community services, told the council, summarizing staff—s proposal to move from bringing every qualified applicant to council to instead presenting only those projects that match annual council priorities. Kent said staff will require a pre-application meeting, a neighborhood meeting and a local tax-partner partnership if a developer requests a property…
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