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Council supports $500 permit-fee waiver for Stonewood Apartments rehab seeking tax credits
Summary
Council voted 5-1 to approve a resolution supporting rehabilitation of 85 affordable-housing units at Stonewood Apartments and to waive a $500 city permit fee to aid the developer’s Texas Department of Housing and Community Affairs tax-credit application.
The Midlothian City Council on Feb. 10 approved a resolution supporting a substantial rehabilitation of Stonewood Apartments (two adjacent properties on 14th Street) and agreed to waive a $500 city development-permit fee to aid the developer’s application for federal tax credits through the Texas Department of Housing and Community Affairs.
Tim Smith of Hook Development Services, representing PK Companies LLC, described the two existing affordable-housing properties as more than 40 years old and in need of substantial rehab. He said the estimated construction budget is about $70,000 per unit and that the two properties together total about 85 units. The waiver and the city’s resolution are part of the application package for competitive tax credits.
Council members debated and then approved the resolution; the vote was 5-1. Supporters said reinvesting in aging affordable housing helps preserve neighborhood rental stock; the dissenting vote was not elaborated in the public record.
What happens next: The developer will include the city resolution and fee waiver in its TDHCA application and pursue federal/state tax credits; if awarded, the rehabilitation would proceed under city permitting and oversight.
