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Council backs Palladium Denton West housing tax‑credit application; project to include 120 units
Summary
Council approved a resolution supporting Palladium Denton West’s application for 9% Low‑Income Housing Tax Credits; the proposed 120‑unit development would reserve about 34% of units at deeply affordable levels and pay full property taxes, staff said.
Jesse Kent, director of community services, presented a request for council to support a 9% Low‑Income Housing Tax Credit application from Palladium for a new‑construction 120‑unit apartment project near Fall Meadow and Garden View Streets. Kent said the developer had previously engaged the neighborhood, received an SUP through Planning & Zoning, and had scored 35 points under the council’s scoring matrix — well above the minimum needed for property‑taxed projects.
Kent said the applicant estimated an annual resident benefit of roughly $60,000 by providing rents at very low and extremely low income levels; staff noted the property will remain fully taxed and that a public meeting had been held as part of application review. "It's a 120 unit development," Kent said, summarizing the unit count and that roughly 34% of units would meet the city's 'affordable for Denton' criteria.
Council members expressed appreciation for the developer’s engagement and the clarity provided by the scoring matrix; the council voted 6–0 to adopt the resolution supporting the tax‑credit application.
