The TDHCA convened its board meeting at 10am, Feburary 11, 2022 at the John H. Regan Building, JHR 140 1400 Congress Ave Austin, Texas 78701
February 10th Meeting Summary
CALL TO ORDER ROLL CALL Leo Vasquez, Chair CERTIFICATION OF QUORUM
Called to order 10:04am.
CONSENT AGENDA approved.
ITEM 3: APPROVAL OF THE FOLLOWING ITEMS PRESENTED IN THE BOARD MATERIALS:
EXECUTIVE REPORT
BOBBY WILKINSON; EXECUTIVE DIRECTOR, TDHCA
- Executive Director’s Report
- Launch vendor website and call center- not huge volume like before. Pilot is going well. 100 million dollars out.
- Rent relief – less than 1% funds available. Currently conducting budget reconciliation. Since Feb 2021 – 1.97 billion in rent and utility assistance provided. Eviction prevented 21,000 households. Supreme court order regarding evictions expires March 1st.
- TDHCA has a new Multifamily finance manager
- Compliance – little physical inspections were conducted during the pandemic. TDHCA has started to do final construction inspections in-person. They will start sending people out in a month or so.
- Virtual training to our housing partners posted on their youtube channel.
ITEM 4: HOUSING STABILITY SERVICES
CATE TRACZ; DIRECTOR OF HOUSING STABILITY SERVICES
Presentation, discussion, and possible action on approval of a Draft HOME-ARP Plan to be released for public comment and to release Notices of Funding Availability after plan acceptance
- Current MOU between TDHCA and the Texas Veterans commission expires on August 31, 2022.
- Would like to authorize the MOU today so that funds can start – no later Sept 1, 2022 – authorize executive director to agreement with Veterans Commission.
- The 2nd MOU will last for 24 months and provide $378,000 to support the salaries and fringe of 2 positions
Motion carries
ITEM 5: COMMUNITY AFFAIRS
MICHAEL DE YOUNG; DIRECTOR OF COMMUNITY AFFAIRS
a) Presentation, discussion, and possible action on awards for 2022 Community Services Block Grant discretionary funds for education and employment services to Native American and Migrant Seasonal Farmworker populations
- $300,000 program. Provides employment, work skills, resume writing, and crediantiling certificates.
- This is from 2021 plan – NOFA – 5 applications received. 4 for migrant seasonal farmworker support, and for 1 native American populations
- They will award 3 applicants for $100,000 awards – located in San Antonio and El Paso. The contract begins March 1st
Motion Passes
b) Presentation, discussion, and possible action to effectuate the use of non-federal funds
to repay the U.S. Department of Health and Human Services Administration for Children and Families for costs disallowed as a result of the 2014 LIHEAP monitoring
Motion passes.
ITEM 6: ASSET MANAGEMENT
ROSALIO BANUELOS; DIRECTOR ASSET MANAGEMENT
Presentation, discussion, and possible action regarding a Material Amendment to the Housing Tax Credit Application 20186 – The Residence at Ridgehill, Kerrville
Motion Passes
ITEM 7: MULTIFAMILY FINANCE
CODY CAMPBELL; DIRECTOR OF MULTIFAMILY PROGRAMS
a) Presentation, discussion, and possible action regarding a waiver of 10 TAC §11.101(a)(2)(C) for The Landing at Spears (#22184) Withdrawn agenda items
b) Presentation, discussion, and possible action regarding a waiver of 10 TAC §11.1(e) for Wellington Frost Town (#22295)
- Item related to data deficiencies to prove that a site is in an opportunity zone
- The current data requirements for proposed 9% tax credit application does not allow the use of other data sources that are not the ACS 5-year annual demographics report that is updated annually
- Most recent ACS data is a couple years old and doesn’t accurantely represent the increase of median income in the census tract.
- There isn’t enough samples in the census tract to draw a conclusion.
- TDHCA staff has stated that they are neutral whether the developer could use FFAC data instead of ACS data.
- Using current ACS data is not a statutory requirement.
- Developer will be allowed to use the alternative data source.
Motion carries
C) Presentation, discussion, and possible action regarding a waiver of 10 TAC §11.1003(b) of the 2022 Qualified Allocation Plan relating to the Maximum Supplemental Request Limit for Pathways at Chalmers Courts West (#20202) in Austin
- Waiver request – maximum supplement amount.
- Written in the 2022 GAP is $5 million dollars for supplemental allocations – not more than 7% of the initial allocation
- This property is asking for a supplemental amount of $300,000. 15% to remain feasible. This is related to the increase in material and labor cost.
Motion carries
d) Presentation, discussion, and possible action regarding a waiver of 10 TAC §11.1003(b) of the 2022 Qualified Allocation Plan relating to the Maximum Supplemental Request Limit for Telephone Road Elderly (#19077) in Houston
Motion carries
e) Presentation, discussion, and possible action regarding waivers of 10 TAC §11.1003(b)
of the 2022 Qualified Allocation Plan relating to the Maximum Supplemental Request Limit for Supplemental Housing Tax Credit Requests from the 2022 Competitive Housing Tax Credit Ceiling
- Blanket approval for 11 developments that have applied for supplemental credits due to increase labor and construction costs.
- They are all within the 15% limit.
- This is not an approval for funding but the granting of the waiver for underwriting.
- The total request for 3.9 million in supplemental credits- the highest it could be
- The Board approves staff recommendation to grant the waiver request, conditioned on the exclusion of any increased site acquisition costs and costs associated with mold remediation from the original application
Motion carries
f) Presentation, discussion, and possible action regarding approval of Supplemental Housing Tax Credit requests for the 2022 Competitive Housing Tax Credit Application
Round
- Board action request 23 recommendations for the board, 22 did not go above 7%
- Total $3.9 million includes increased waiver
- The developers will return their past credits that will then result in an new award and push back request-in service deadline to December 2024. Essentially resetting their clocks.
Motion carries
g) Presentation, discussion, and possible action regarding an award from the Multifamily Direct Loan (MFDL) 2021-3 Notice of Funding Availability (NOFA), as amended
- From a previous development presented at the beginning of the meeting – $492,558 in national trust fund – deferred payroll – 30 years affordability
- This loan is deferred repayable – so if they refinance then they would need to pay this back – the mismatch between state and federal years of affordability is standard
Motion carries
h) Presentation, discussion, and possible action on an award of a Predevelopment Grant from the Multifamily 2021‐2 Special Purpose Notice of Funding Availability: Predevelopment
- Applicants must go through PPR process – no underwriting process for predevelopment grant
- SAFE Alliance – supportive services systems successful since 2010.
Motion carries
ADJOURN @ 11:35 am
Next meeting March 10TH