24-393

Authorize (1) the adoption of a Resolution of Support for O-SDA Industries, LLC or its affiliate(s) (Applicant), related to its application to the Texas Department of Housing and Community Affairs (TDHCA) for 9% Housing Tax Credits for the development Olea at Oak Cliff (Project) located at 541 East Jefferson Boulevard, Dallas, Texas 75203; (a) accordance with 10 TAC § 11.3(d) (the “Administrative Code”), specifically allow the adaptive reuse of the Project, as required by the Administrative Code, because the Project is within one linear mile or less of Gateway Oak Cliff (a 9% housing tax credit development located at 400 South Beckley Avenue), and is subject to the One Mile Three Year Rule; (b) in accordance with 10 TAC § 11.3(e) and § 11.4(c)(1) (the “Administrative Code”) specifically allow the proposed adaptive reuse of the Project, as required by the Administrative Code, because the Project is located in a census tract that has more than 20% Housing Tax Credit Units per total households; and (2) an agreement with the Applicant for a line of credit in the amount of $500.00 for the proposed multifamily development - Not to exceed $500.00 - Financing: General Fund

CONSENT AGENDA Approved Introduced January 22, 2024

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