Description
Title: Conduct a public hearing and consider a resolution related to an application by Roers Austin Apartments Owner V LP, or an affiliated entity, for 4% Non-Competitive Housing Tax Credits for the construction of a multifamily development to be financed through the private activity bond program and to be known as Decker Lane Apartments, located at or near 7400 Decker Lane, Austin, Texas 78724. Funding: Approving this resolution does not constitute any obligation of the City with respect to funding. This resolution will support the applicant's application for federal Housing Tax Credits.
Summary
The City of Austin is considering a resolution to support the construction of the Decker Lane Apartments, a proposed affordable multifamily housing development by Roers Austin Apartments Owner V LP, located at 7400 Decker Lane. The project aims to provide 202 units, including 41 units for households earning up to 50% and 161 units for those earning up to 60% of the Area Median Family Income (MFI). The financing will primarily come from 4% Low Income Housing Tax Credits and private activity bonds. The resolution does not obligate city funding but is necessary for the applicant's submission to the Texas Department of Housing and Community Affairs. This initiative is significant for addressing affordable housing needs in Austin's general population.